Every organization has a role to play in the society. An organization should not only serve the needs of the consuming public but the whole society at large. A research survey done recently shows that for every organization to be successful it has to have a clear set of ethics in performing its duties. A centric organization has standard practices and code of ethics that it follows. One advantage of embracing strategic planning is that the members of such an organization are best placed to become socially responsible.
According to McNamara (n. d, p.1) a strategic plan functions as a roadmap to an organization, paving way for the future developments in such a firm and how it will manage to achieve them. It involves establishing what goes on outside the organization, inside the organization by carrying out a SWOT analysis, writing the company’s vision and mission statement of the organization and establishing goals of the organization and how those goals will be achieved (Pearce & Robinson, 2009, p.). The purpose of this report is to explain the role of ethics and social responsibility in strategic planning.
Strategic plan and ethical considerations
Ethics are beliefs about what is good or bad, right or wrong and then doing the right thing. For instance a behavior can be regarded as ethical or unethical depending on the way individuals behave towards the society and their values. Ethics may entail respect, trustworthiness, caring, fairness, citizenship, and justice, amongst others. On the other hand, an organization is said to be socially responsible if it contributes to the welfare of its stakeholders and is not solely devoted to maximizing profits. Stakeholders are groups and individuals that are affected directly by the practice of the organization. They include customers, employees, suppliers and the community at large.
It is important to consider ethics and social responsibility when planning either for personal life or for the success of the business. It is important for organizations to ensure that when they are developing their strategic plans, they incorporate shareholders’ needs.
In addition, there is also the need to take into account the role of ethics within such an organization and how this may impact on the firm in the years to come. Ethics help employees and management to behave in accordance to the standards of the organization and this provide a good working environment and. As a result there are good relations between management and the employees and among employees themselves leading to achievement of goals.
Ethics acts as clear guidelines to employees on how they ought to act consistently especially when there are changes in the organization and this as a result ensures consistency in production. In addition they encourage employees to align their behaviors to the values prioritized by the organization and as a result ensure there is strong teamwork and motivate employees increasing production. Moreover they allow growth and meaning to employees for they are able to know what is good and bad and to be responsible of their behavior. It is also possible to avoid criminals and lower fines by having ethics and promote good image.
A company should determine which activities to devote its resources in order to be socially responsible and strengthen its competitive and balance economic and societal value. In addition, it should identify and respond to threats and opportunities affecting its stakeholders.
A company should offer services that are going to satisfy their customers so that they may make profit and continue surviving in the market since profits come from revenue of these customers. Hence ought to serve their customers consistently and effectively.
When a company knows the interests of their customers through research and meets them, it is able to achieve the ultimate goal of creating social and corporate value. Therefore a company should never assume that they know the needs of customers but should find out from them so as to meet them in accordance to their culture.
Moreover, a company should hold regular meetings with all the stakeholders where they can discuss issues affecting them. This will ensure that the stakeholders are proud of the company and want to work for the company all the more. In addition, external stakeholders will support the company in different ways. All these should be included in the strategic plan as they will enable the company to know why they are in business and which products they ought to supply (James, 2010, p.)This will improve the image of the company as they reflect on the needs of the customers. Social responsibility influence all aspects of the company daily activities as in one way or another the company have to interact with one of its stakeholders hence important for company to know them. This will cause the company to improve
How my ethical perspective has evolved throughout the program
Through out the programme I have learnt to appreciate and recognize others people work and to be honest as I have learnt on the penalties of plagiarism which involves using somebody else work without acknowledgement by first pausing and considering the consequences as this is not morally right(Johnson,1997,p.62)
Collection of objectives, strategies, actions and responsibilities should be the foundations of a company’s business plan since everyone in our society is affected by the strategic choices a company makes about products, services and way of doing things.
James L, F. (2010). Develop business plan. Web.
McNamara, C. (n. d). Strategic planning (in non-profit or for profit). Web.
Pearce, J. A., & Robinson, R. B. (2009). Strategic Management, Formulation, Implementation and Control. Web.