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Leave a comment Ethics and Social Responsibility in Developing a Strategic Plan Explain the roles of ethics and social responsibility in developing a strategic plan while considering stakeholder needs and agendas.
Include at least one example of a company overlapping ethical boundaries for stakeholders agendas, and what types of preventative measures could be taken to avoid this type of situation. Corporate executives are faced with the immense challenge of balancing the pursuit of shareholder profits with a strong ethical code.
Focusing too much on one single area will cause the other one to suffer. Computer technology has made it easy for information about companies to flow freely and ethical failures are quick to be identified by the public. Failing to operate an ethical business could lead to quick brand deterioration through negative public exposure.
The following paper will explore the topics of ethics and social responsibility as they relate to strategic management.
The Role of Ethics and Social Responsibility The strategic decisions of a large multinational corporation have the potential to impact millions of people across the globe. Failing to recognize the widespread impact of these decisions could result in negative effects for shareholders, surrounding communities, and the environment.
Creating a well-documented code of ethics gives companies a blueprint on how their decisions should affect society. These categories are ranked in order of importance based on the survival of the business Wheelen First, economic considerations are those that result in the maximization of profits for the firm.
Next, a manager should consider the implications of decisions from a legal standpoint. In some cases, a business may need to make sacrifices in job performance to ensure that it is in compliance will all laws and regulations.
For example, a business may choose to conduct a voluntary employment compliance audit to ensure that it is following all anti-discrimination employment laws.
Third, ethical decisions will be considered based on commonly shared values in society. Global companies may need to adjust their ethical code based on the various cultures in which they conduct operations.
On a final note, a manager should make decisions based on discretionary choices, such as philanthropy, charity, and volunteerism.
Participation in these voluntary activities directly contributes to social responsibility. Utilitarianism is perhaps the most widely accepted approach to corporate ethics, which believe that the best choice is the one that creates the least amount of suffering.
Therefor, businesses should not engage in activities that lead to widespread suffering just for the sake of higher profits.
A second approach to this question is through the individual rights philosophy, which states that people have basic rights that should always be respected.Social responsibility and business ethics are often regarding as the same concepts.
However, the social responsibility movement is but one aspect of the overall discipline of business ethics. Many are prioritizing corporate social responsibility (CSR), and holding corporations accountable for effecting social change with their business beliefs, practices and profits.
In fact, some will. Nov 09, · Social Responsibility Plan Examples Sunset Vacations is a full-service travel agency committed to providing our clients with the best travel packages and experiences available. A 5-Step Social-Responsibility Action Plan. Corporate social responsibility--creating business value while promoting positive social change--is getting a .
The concept of corporate social responsibility, that businesses should both self-regulate and benefit their communities, goes back to before the attheheels.com America, at the time, states had the right to invalidate a business’s license to operate should the business act irresponsibly.
7 Steps to Effective Corporate Social Responsibility Usually, when you launch a business, you funnel your resources and energy into your company – not into helping others. Yet we live in a time when many customers judge companies by their demonstration of compassion and integrity.