Preview

The Role of Ethics and Social Responsibility

Good Essays
Open Document
Open Document
880 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
The Role of Ethics and Social Responsibility
Ethics Paper � PAGE * Arabic �2�

Running Head-THE ROLE OF ETHICS AND SOCIAL RESPONSIBILITY

The importance of ethics in developing a strategic plan

Jaime Enriquez

MGT 498

January 24, 2011

Eligah King

THE IMPORTANCE OF ETHICS IN DEVELOPING A STRATEGIC PLAN

Business ethics are becomingly more effective in the modern world of business, yet ethics and social responsibility are concerns misunderstood today. Organization's when confronted with issues that become more significant as the organization grows have more of an impact on the lives of other people in ways management can only imagine. Ethics can be a personal topic, containing an important role in the success of the business and the social responsibility will surely maintain integrity and honesty for the organizations future. In regard to the role of ethics a social responsibility in developing a strategic plan, there will be discussion and consideration with the part of stakeholder's needs and agendas.

ETHICS AND SOCIAL RESPONSIBILITY

Ethics is an important subject, people may refer to as the, 'golden rule' and in business ethics can guidelines imposed by law. Ethics can be best understood as, "the rules of conduct recognized in respect to a particular class of human actions or a particular group, culture, etc" (Dictionary.com, 2011). In regard to business ethics, "ethics that refer to the moral rules and regulations governing the business world" (LoveToKnow, 2010) as a whole cannot tackle every circumstances in which ethical dilemmas may arise.

The importances of decision making not only helps it function properly but also can define the reputation of the organization. Decision making should not be unethical to meet such requirements, "ethical responsibilities of an organization's management are to follow the generally held beliefs about behavior in society" (Wheelen & Hunger, p. 58).

When an organization's values and ethics support its strategy, it is courtesy to stakeholders and the community to

You May Also Find These Documents Helpful

  • Best Essays

    Ethics is a word we all hear often, whether it’s on the news, in class or at work, ethics is associated with the way people act. Being ethical is similar to being right or wrong. Ethics as is an organized analysis of values relating to human conduct, with respect to their rightness and wrongness (Fieser, 2012). So what do ethics mean in business? Ethics in business has the same meaning, except it applies to the operations of whole company including executive managers, employees, and stock holders. The decisions made by all of those mentioned affect the ethical sense of the company.…

    • 2508 Words
    • 11 Pages
    Best Essays
  • Good Essays

    Elements of ethics and social responsibilities while deciding on the strategic planning. “They are supposed to respect the environment, pursue fairness in dealing with internal and external customers, and strive to improve their communities” (Romani, 1998). Many businesses operate unethically, but it has adverse effect on the customers. So companies must recognize the value of ethics and social responsibility and enforce the standards…

    • 851 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Mgt 498 Ethics Paper

    • 711 Words
    • 3 Pages

    A senior management responsibility is determined the strategic plan, direction, and decisions in strategic planning; he has to deal with conflicts and resolved with ethical responsibility for creating an adaptable strategic plan. Business responsibilities are four economic (goods and service), legal (laws), ethical, and discretionary. Ethics and social responsibility within organization are part important of developing strategic plan. Ethical responsibility is follow believes about behaviors society (Wheelen and Hunger, 2010). Also the social responsibility is the way how an organization makes activities that may not be harmful, and it can be good for the community (Abdullah, 2013). In this paper develops the role of ethics and social responsibilities in strategic plan considering the stakeholders needs and agendas. An example of an organization violated ethical…

    • 711 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    Mgt 498 Ethics Paper

    • 737 Words
    • 3 Pages

    The role of ethics and social responsibility aids organizations in developing a strong strategic plan, while addressing the needs of stakeholders. Ethics and social responsibility require social awareness to address the needs of the environment and to increase the knowledge of employees, which will lead to a corporation focused on supplying the customer with what is needed, managers equipped with solid decision-making abilities, and employees who believe that he or she are an asset to the business. It is the executive manager’s responsibility to establish a clear vision for the corporation and place a specific focus on understanding stakeholder’s needs. In an effort to support these requirements agendas and regulations will be developed to maintain and enforce business ethics within the organization. It is vital for an organization to establish a firm code of ethics for employees and managers to agree and adhere to equality within the organization.…

    • 737 Words
    • 3 Pages
    Satisfactory Essays
  • Satisfactory Essays

    • Explain the role of ethics and social responsibility in developing a strategic plan,considering stakeholder needs.…

    • 401 Words
    • 3 Pages
    Satisfactory Essays
  • Good Essays

    MGT/498 ETHICS

    • 1056 Words
    • 4 Pages

    Ethics, social responsibility, and sustainability are several factors that traditionally have an effect (either negative or positive) on the strategy of an organization’s. For example, a business’s ethical value can have an extensive influence on many levels an organization:…

    • 1056 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Ethics is defined as “the moral principles that reflect society’s beliefs about the actions of an individual or a group that are right or wrong.” (Pierce & Robinson, 2011 p. 74) Just as in one’s personal life, ethics plays a large role in the corporate world as well. Ethical considerations for a company’s stakeholders must be accounted for when creating a strategic plan. The following paragraphs will focus on the role ethics plays in creating a strategic plan and how those ethical considerations affect the company’s stakeholders. In addition, an analysis of how my own ethical considerations have changed in the course of taking the MBA program will also be discussed.…

    • 770 Words
    • 4 Pages
    Good Essays
  • Satisfactory Essays

    1) Is it important for organizations, managers, employees to practice sound ethical decision making? Why or why not?…

    • 317 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    In Company Q's attempt to make logical day-to-day business decisions, they have created tension in the communities that they thrive in. With the intention of protecting the company and its assets, they have unintentionally created a imbalance of social responsibility within the company and community. Closing stores in major metropolitan area is a formula for disaster. These stores could have been where most foot traffic potential is located. That can lead to hight revenues. Company Q has shown that they cannot trust employees even if it is for the greater good. The offering of a small healthy and organic product selection may be an indication that Company Q does have an ear open to the community. In an attempt to save the image and continue Company Q's profitability, a few steps must be taken to sustain this margin. Community leaders should be involved in brainstorming the things Company Q can do. A competitive analysis of Company Q's competition should be factored in. Thirdly, Programs to increase customer loyalty can be implemented.…

    • 774 Words
    • 4 Pages
    Good Essays
  • Powerful Essays

    Northcentral

    • 1600 Words
    • 7 Pages

    Business ethics is a form of applied ethics or professional ethics that examines ethical principles and moral or ethical problems that arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations (Free Encyclopedia). The term business ethics is used in many ways, and the history of business ethics has varied based on how a person or company conceives of the objects under discussion. In a wide sense ethics in business is just the actions or applications of everyday ethical or moral norms and or decisions in business. Construed broadly as moral reflection on commerce, business ethics is probably as old as trade itself. If law, is a rough guide to widely-held moral intuitions (Goodin, R.1985).…

    • 1600 Words
    • 7 Pages
    Powerful Essays
  • Satisfactory Essays

    Ethics Paper Wk.2

    • 673 Words
    • 3 Pages

    The purpose of this paper is to explain and define the role of ethics and social responsibility in developing a strategic plan while considering stakeholder needs and agendas. This paper will include an example of a corporation overstepping ethical boundaries for stakeholder agendas, and what type of preventative measures were used to avoid to the situation.…

    • 673 Words
    • 3 Pages
    Satisfactory Essays
  • Better Essays

    Ethical and Social Issues (2008) explains, when describing business, ethics is defined as, the ability to reflect on key values along with a company’s decision-making process, to decide how values and decisions affect the stakeholder groups, and to ascertain how managers can use these teachings in everyday organizational operations. Ethical business leaders make every effort for fairness and justice within the boundaries of sound management practices. Using the process of ethical analysis, an individual will be given the ability to analyze a situation. With this process an individual can identify the stakeholders or employees, the decisions which can be reasonably taken, the consequences of the decision, and the facts. Additionally, the process allows an individual to define the dilemma or conflict, although, in most cases a dilemma possesses two opposed courses of action, which both burden meaningful values.…

    • 1140 Words
    • 5 Pages
    Better Essays
  • Powerful Essays

    In MANAGEMENT CONCEPTS & BUSINESS ETHICS lecture notes prepared by School Of Distance Education, University Of Calicut mentioned that Business Ethics or Ethical standards are the principles, practices and philosophies that guide the business people in the day today business…

    • 3700 Words
    • 13 Pages
    Powerful Essays
  • Powerful Essays

    AMRE

    • 2960 Words
    • 12 Pages

    Ethics is moral principles that govern a person 's behavior or the conducting of an activity. "Ethics in business" is the behavior that a business adheres to in its daily dealings with the world. The ethics of a particular business can be diverse. They apply not only to how the business interacts with the world at large, but also to their one-on-one dealings with a single customer.…

    • 2960 Words
    • 12 Pages
    Powerful Essays
  • Powerful Essays

    Table of Contents Session 1 Strategic thinking 4 Cognitive activities 4 [pic] 4 Limitations in cognitive abilities 5 Cognitive maps 5 Paradox of logical and creative thinking 6 Rational and generative reasoning perspectives 6 Article 1: “the concept of corporate strategy” 8 Article 2: “The mind of the strategist” 8 Article 4: “decision –making, it’s not what you think” 8 Lecture 2 – Organizational Purpose (read main parts of chapter 11 as well) 9 General Overview 9 The functions of mission and the link between mission and vision 10 Stakeholder versus shareholder view 11 CSR 11 Article: How companies define their mission 13 Tips to the exam (Fred’s word): 14 Lecture 3 – Values and decision- making 16 Virtue ethics – corporate core values 16 Deontological ethics/duty – rule-based management 17 Teleological (consequential) – utility theories, management by objectives, MCDM, balanced scorecard, stakeholder theory 17 Stakeholder theory 18 Shareholder theory 18 Immediate and expected emotions 18 Generic value system 19 Virtue values – core values - core values of the firm 19 Duty values - standards and procedures – protected values 19 Consequential values - stakeholder values – created values 19 Article: Structuring organizational value statements 21 Lecture 4 – Rationality 22 Four dimensions of rationality 22 Von Neumann-Morgenstern's axioms and utility 23…

    • 17726 Words
    • 71 Pages
    Powerful Essays