Ethics have played a role in how companies have done business and conducted themselves but not as much as when Enron, WorldCom, Arthur Anderson were in the spot light for fraud. The companies hid valuable information from internal and external stakeholder and stockholders alike. The employees lost their retirement or at least some of their retirement to these unethical actions of top executives. The researcher will explain the role that ethics and social reasonability has on developing a strategic plan and how her ethical responsibilities have changed because of her education in this program. Ethics and Social Responsibility in Strategic Planning
According to Pearce and Robinson, 2011, “Ethics are the belief and moral rules that a person grows up with, which morally he or she believes is right or wrong.” One person may not have the same ethics as the next person. When developing a strategic plan the values, standards, norms, and rules of a company should be clearly stated to the employees of the company, along with the objectives and final goals of that company to ensure proper understand of what the company will except and will not. The mission and vision statement help with instilling the values, standards and ethics the company will stand for by their employees. Code of conduct is usually formulated when conducting an outline of a strategic plan, which ensures rights and moral activities. This aids the organization in fulfilling the desires of employees, internal, and external stakeholders too. The mission statement will help customers and external stakeholders know what the company’s attentions and values are toward the environment, community and how the company will conduct business. A company that incorporates ethical guidelines can correlate the rules, regulations, and norms that will help in staying within an ethical working environment. Reward systems are set up as a form of strategic plan by some...
References: Pearce, J. A., II, & Robinson, R. B. (2011). Strategic Management: Formulation, Implementation, and Control (12th ed). Boston, MA: McGraw-Hill/Irwin. Retrieved on February 25, 2013
Williams Institute Ethics Awareness Inventory Assessment. (2013). Ethical choices in the workplace. Retrieved on February 24, 2013.
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