In developing a business strategic plan, the goal is to provide a product or service that ultimately generates profit. More so, this plan helps identifies a business desire at a particular time during the life-cycle, which is beyond the day-to-day operations (http://managementhelp.org/fp_progs/sp_mod/str_plan.htm) OR (http://www.businesslink.gov.uk/bdotg/action/detail?itemId=1079687246&type=RESOURCES). In doing so, incorporating business ethics and social responsibilities initiatives, policies, or best practices are key. For this reason, the dedication consumes a significant amount of time in the decision making process. Each decision made must be carefully thought out and demonstrate that ethics and social responsibilities were taken into consideration. Consider cases such as, Xerox, Worldcom, Merrill Lynch, etc. where unethical decisions were made, which lead to a scandal. Yet, the challenges in developing a strategy that provides profit, includes an ethical business approach, and achieves maximum social benefits through programs and projects can become difficult, if not accurately designed (BOOK, 63).
Scope of Analysis
This analysis highlights the roles of ethics and social responsibilities when developing a strategic plan and the importance of stakeholders during this process. To conclude this analysis, a personal perspective towards ethics will be shared.
In general, ethics and social responsibilities plays a role by allowing a business to operate effectively, generating a honest profit, maximizing social benefits, increasing the confidence of the public, strengthening the relationship with stakeholders, providing an effective framework for conducting business, adding value to the business image, etc. To begin, developing, implementing, and enforcing policies company-wide will increase the awareness of individual expectations. By the same token, educational opportunities should be available for employees to engage in learning and understanding the rational for each policy. Even more important, this provides accountability and demonstrates how a business should function as a cohesive unit.
Ethics provides a framework for recognizing unethical actions. It is important to understand that in some cases, unethical actions are not always illegal. Ethics are morals, theories or a system for dealing with the concept of good and bad; which includes the anticipated moral duty and obligations (http://www.merriam-webster.com/dictionary/ethics). Simply illustrated, with concepts such as, character, professionalism, creditable, trustworthy, etc. are ways to generalize the meaning of ethics.
In this evolving world, the alarming concern is that ethics is a combination of preferences and the ethical standards can vary from business to business, which can cause dilemmas. On the other hand, ethics helps determine if actions and practices are at standards and being maintained through business activities such as programs,...