STR 581 Week 1 Ethics Reflection Paper,
Ethics Reflection Paper
For an organization maintain stability and growth, it must consider the role of ethics and social responsibility as inherent components of strategic plan. Ethical and social responsibility criteria are important to the strategic planning process when making profit decisions before and after he enables the organization to attain the greatest possible benefits.Ethical responsibility is an obligation of every professional and is salient in every aspect of how an organization operates. Ethics ensures an organization can effectively achieve its mission, goals, and objectives which gives direction and framework. Ethics ensure guidelines are created which bind the organization into one common thread, therefore avoiding deviation from the desired strategic path. Ethics ensure that strategic plan is prepared in the best interest of all the organizations stakeholders.Social responsibility is the other major component to the strategic planning process and it correlates with organizations profitability.An organization that makes it a point include social responsibility as one of their criteria, ensure that they are contributing to the improvement and well-being of all society involved.
When looking at the ethical and social responsibility there are certain issues that must be addressed. First there are the stakeholders, it is imperative for management to ensure strategic decisions are reached once taking into account possible impact to stakeholders. Social responsibility is identified as corporate social responsibility (CSR) within most organizations and refers to “a business practice that involves participating in initiatives that benefit society. As consumers’ awareness about global social issues continues to grow, so does the importance these customers place on CSR when choosing where to shop” (Fallon, 2014, para. 2).The stakeholderscan be identified as customers, suppliers, government, competitors, and l………………