Role of ethics and social responsibility in
developing a strategic plan
Businesses prepare strategic plans to provide
them with a long-term view of where they want to be at the end of that period. It
is a process involving six key stages: formulation of a mission statement,
conducting and environmental analysis, performing a competitive analysis,
analysis of strategic alternatives, outlining goals and strategies as well as setting
up systems of control. An organization assesses the external values for
opportunities and threats. Such an assessment would reveal what the organization
might do. Similarly, an assessment of internal strengths and weaknesses reveal
what the business can do. Besides the relevant legal requirements, the
organization must rely on ethical values to determine an appropriate course of
action. On its part, social responsibility guides the business on how to
respond to those affected by its activities.
One of the most common ways in which
businesses inculcate ethics is having a code
of ethics (Grower, 2005). If properly developed with the input of all stakeholders,
the code of ethics can be a powerful tool for developing an ethical culture in
an organization. The effective of such a code must, however, extend beyond
being a mere document. Everybody in the organization must own it. When combined
with social responsibility, the code can play an important role in guiding
relations with the various stakeholders of the business organization.
Thus, a good compass on ethics and social
responsibility would help the business maximize the wealth of owners as an
important group of stakeholders. This can be done through proper maintenance of
accounts. In addition, employees as a stakeholder group have various needs
including safe working conditions. This can greatly be enhanced through ethical
practice. Furthermore, the business has a responsibility to consumers who
expect safe products. An ethical policy in that area would help in achieving
such goals. Other responsibilities of the business include to the environment
and the society at large.
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Evolution of my ethical perspective
throughout the program
To begin with, the program has been an eye
opener to me. It never occurred to me that a module on ethics would add any
value to what I already thought I knew. It turned out that I was totally wrong.
In fact, the reality is that I now have a broader perspective on ethics than
when the program begun.
Ethics had all along appeared to me as an
issue best left to philosophers. Practical
business people, so I thought about myself, should grapple with real problems
and leave unnecessary theorizing to career academics in the realm of
philosophy. With hindsight, I can say that my perspective on ethics is now very
liberating.
Besides learning the different approaches to
ethical decision making, I now know that the survival of a giant business may
turn on a single ethical misstep. Engagement with materials concerning scandals
such as Enron was able to attune be with the practical realities of ethical
decision-making at play (Grower, 2005). Here was a company that was reporting
massive profits even when analysts were musing how this could be in a very
tough business environment. It only took the inquisitiveness of a journalist to
reveal that Enron’s profits were just a fraud. Lesson, never allow a bad
ethical culture to take root in an organization.
Reference
Grover, S.L. (2005).The Truth, the Whole Truth, and
Nothing but the Truth: The Causes and Management
of Workplace Lying. Academy of Management
Executive, 19,148–57.
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