January 17, 2013
Instructor: Paul Sam
Ethics is defined by the Mintzberg, Ghoshal, Lampel, and Quinn, 2003, as a question of not methods but goals and values. The moral principles that reflect society’s beliefs about the actions of an individual or group right and wrong are ethics According to Pearce and Robinson. Ethics provides a platform where companies can achieve goals, set objectives, and fulfill their organizational vision and mission by establishing a course of action and decisive roadmap. Social responsibility and ethics are required when a strategic plan is developed, especially when considering the stakeholders. In this paper the role of ethics and social responsibility in developing a strategic plan, considering stakeholder needs will be explained, and an explanation of how ethical perspective has evolved throughout the MBA program. In the firm those with any interest such as the managers, customers, employees, shareholders, or suppliers include Stakeholders of a company. To be socially responsible each has their own duties. Making sure there is good return on investment is the Shareholders responsibility. Constituting social responsibility is for employees and managers to have good working conditions and fair pay. Good quality products and fair prices are what customer deserves. Proper ethical decisions need to be made if conflict occurs between stakeholders and shareholders. Ethical committees are established in some companies to “establish some kind of routine for probing into the general ethical climate of the firm” (Mintzberg, Ghoshal, Lampel, & Quinn, 2003, p. 299). In what manner to act codes of conduct are also used. In a company’s value statement, mission statement, and strategic plans Ethics needs to be integrated. A way to lead to a strong strategic plan have a strategic plan describes the company’s purpose and what it stand for while keeping in mind its values. “Moral values...