Strategic Planning & Implementation/ STR 581
February 13, 2012
Ethics is defined as “the moral principles that reflect society’s beliefs about the actions of an individual or a group that are right or wrong.” (Pierce & Robinson, 2011 p. 74) Just as in one’s personal life, ethics plays a large role in the corporate world as well. Ethical considerations for a company’s stakeholders must be accounted for when creating a strategic plan. The following paragraphs will focus on the role ethics plays in creating a strategic plan and how those ethical considerations affect the company’s stakeholders. In addition, an analysis of how my own ethical considerations have changed in the course of taking the MBA program will also be discussed. Role of Ethics
When developing a strategic plan, the Company needs to ensure the plan will encompass the core values and expectations the company has for its employees and are outlined in the strategic plan. The ethical standards are moral responsibilities that go beyond merely legal requirements (Pierce & Robinson, 2011). The ethical standards set forth in the strategic plan should embody the beliefs its upper management and customers hold dear. This is done by developing a well thought out and written mission and vision statement. These statements will define where the company plans to go and how it plans on achieving those goals. The statements keep ethical considerations at the center and can be utilized in goal-setting and strategic planning. This being said, it is important for companies to realize that not all employees, whether low-level or management, will follow the ethical guidelines in place. Social Responsibility
Corporate social responsibility is “The idea that business has a duty to serve society in general as well as the financial interest of stockholders.” (Pierce & Robinson, 2011 p. 52) All stakeholders should be taken into consideration when determining whether a...
References: Pearce, J.A., & Robinson, R.B. (2011). Strategic Management: Formulation, Implementation, and Control (12th ed.). Boston, MA: McGraw-Hill/Irwin
University of Phoenix, (2012). Williams Institute: Ethical Awareness Inventory, Retrieved from University of Phoenix, STR 581 website.
University of Phoenix, (2012). Williams Institute: Ethical Choices in the Workplace, Retrieved from University of Phoenix, STR 581 website.
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