Social responsibility is how a business performs its activities to meet its wider obligations toward the society and environment, such as by avoiding activities which may be harmful. To qualify for the discount, you must have paid at least 50% of your order cost by 23:59 on Sunday 29th November 2020 (UTC/GMT). The paper will conclude with how my ethical perspective has evolved throughout the program. We're here to answer any questions you have about our services. Promotion runs from 00:01am to 11:59pm (GMT/UTC) on the 27th November 2020. Registered Data Controller No: Z1821391. The Role of Ethics in Strategic Planning Reflecting critically and actively on ethical issues is an obligation of every professional. Members should respect others' opinions by giving them the opportunity to speak and by listening to their ideas with interest. Wider perspectives also have to be considered in terms of environmental and social impact of planned activities. Disclaimer: This work has been submitted by a university student. Customer confidence in how business operates has been severely shaken by recent corporate scandals and collapses, such as Enron and bank failures. Such a strong focus on ethics will ensure that each set of stakeholders will be happy and assured that strategic plan will address their needs and wants and the organization will act in the best interest of each stakeholder. While external behaviors can include the latter three internal behaviors, they differ from internal CSR because management and public relations will consider the financial impact of their decisions because of their stakeholders, such as owners and shareholders. Study for free with our range of university lectures! Reflecting critically and actively on ethical issues is an obligation of every professional. It should be conducted in a professional and coherent manner and everyone should be independent in providing ideas without fear or hesitance as this helps improve the quality of the discussion and the decisions reached. 10FRIDAY2020 can only be used on orders that are under 14 days delivery. On this paper analyzes the ethics and social responsibility, how these applies to a company stakeholders and strategy planning. Copyright 2020 Leaf Group Ltd. / Leaf Group Media, All Rights Reserved. To export a reference to this article please select a referencing stye below: If you are the original writer of this essay and no longer wish to have your work published on the website then please: Our academic writing and marking services can help you! During the planning process, the team should take a fair and truthful look at the possible risks and impact of decisions reached. Everyday poor customer service, such as from Dell, Inc. has brought high levels of frustration to customers (Gizmodo, 2010). This is not an example of the work produced by our Essay Writing Service. However, academic research to date has been inconclusive, finding positive, negative and curvilinear relationships between CSR and financial performance (McWilliam and Siegel; Margolis and Walsh, 2001). Cannot be used in conjunction with other promotional codes. Aminah Abdullah has been writing articles on finance and other subjects since 2005. Thus CSR focuses on two areas: Internal behaviors, which refers to the way a corporation conducts the day-to-day operations of its core business functions, and External behaviors, which refers to a corporation’s engagement outside of its direct business interest (Jones, 2004). This demand has been marked by numerous claims linking corporate social responsibility to a firm’s profits, particularly in professional publications (Kanter, 1999), in the media, and by emerging international CSR organizations – such as the United Nations Global Compact. When companies develop strategic plans, they must consider what role ethics will play and how social responsibility will affect the plan keeping stakeholders need at the forefront. (Lingham, 2009). Management Reflecting such ethical content or implications in one’s decisions and actions must be salient in every aspect of how companies operate. Recent corporate scandals such as Enron (Business Wire, 2002), and the collapse of a major Wall Street banking house, Lehman Bros. (Jaffe, 2009), have scarred the business industry. Ethics ensure that strategic plan is prepared as per the best interest of all a company’s stakeholders, whether employees, vendors, customers or even the society in which the organization operates. This applies whether a company is involved with customers one-on-one, such as a Taco Bell or Dell, Inc., or their involvement is indirect, through their relationship with their clients, such as newspaper distributor Pogo Distribution Company, or wholesale food seller, Del Monte. From simple essay plans, through to full dissertations, you can guarantee we have a service perfectly matched to your needs. The future of our organizations, the people they represent, and the wider community can only be strengthened by embedding ethics into the strategic planning process.” Ethics should be central, not peripheral, to the overall management of the firm.

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