Ethics in strategic planning essay example
The company CEO seeks to use the skills experience and knowledge of each stakeholder group to further the organization long time goal, the stakeholder initial role is to provide the capital a company needs to grow and expand or in the case of a startup venture, the capital need to launch its products or service into the marketplace.
He tends to admonish much of the conventional understanding concerning strategic planning and proposes his interpretations. Considering Stakeholder The word stakeholder means any person with an interest in business, someone who can contribute to the company grows and success or who benefits from its success.
Furthermore, the analysis explains how the information on ethics and social responsibility provides a road to success or failure, depending on the implementation of the knowledge one gains from the data and the decisions one makes.
The third model about ethical principles is the justice approach, which compels decision makers to take a balanced and equitable approach towards problems.
Therefor, businesses should not engage in activities that lead to widespread suffering just for the sake of higher profits.
Importance of ethics in strategic management
Effective planning is an essential element if a company is to successfully employ change management and implement new processes and procedures that will adjust organization functions and operational assignments in order to meet the desired outcomes. Highly ethical businesses evaluate their employees on contributions that make aside from their primary job function, such volunteer work, mentorship, and community involvement. In contrast to for-profit entities, the nonprofit relies heavily on volunteers to fulfill the organizational mission and vision. Strategic planning helps firms to define how they will make money in the future. Next, a manager should consider the implications of decisions from a legal standpoint. References Carpenter, M. These categories are ranked in order of importance based on the survival of the business Wheelen With this management in place an organization can achieve its long-term goals. Abstracts Ethics and social responsibility occupy an important place in human value system. 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. A second approach to this question is through the individual rights philosophy, which states that people have basic rights that should always be respected. In addition apple Inc.
Typically, the plan is organization-wide or focused on a major function such as a division or a department. What is a Strategic Plan?
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