Reflecting critically and actively on ethical issues is an obligation of every professional. Reference this. Members should respect others' opinions by giving them the opportunity to speak and by listening to their ideas with interest. Integrating and planning must go beyond compliance issues and reactive disciplinary policies to actually manage integrity. (Lingham, 2009). Nevertheless, for those companies who include social responsibility as one of their criteria, companies are leaving no stone unturned to ensure that they contribute to the improvement and well being of the society, while minimizing any negative impact of their operations on the society. Adhering to the highest possible ethical standards, and integrating these ethics into their strategic planning, can build a good corporate image in front of all the stakeholders of the organization. Study for free with our range of university lectures! 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. Wider perspectives also have to be considered in terms of environmental and social impact of planned activities. 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. Disclaimer: This work has been submitted by a university student. If you need assistance with writing your essay, our professional essay writing service is here to help! From simple essay plans, through to full dissertations, you can guarantee we have a service perfectly matched to your needs. According to authors Andre and Velasquez, ethics has two parts. Building ethics into strategic planning is important to ensure that every facet of the organization is aligned with the ethos and values of the broader organization. This paper analyzes what are ethics and social responsibility, how each applies to a company’s strategic planning, and the overall impact on stakeholders when ethics and social responsibility is considered in strategic planning. 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). (Valentino, 2007). Free resources to assist you with your university studies! Discussion in a friendly environment improves the relationship among the members, strengthens the strategic planning process and results in better decision-making. 15FRIDAY2020 can only be used on orders with a 14 day or longer delivery. 10FRIDAY2020 can only be used on orders that are under 14 days delivery. 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. Looking for a flexible role? Examples are ‘going green,’ matching employee charitable contributions; creating ‘help the community’ programs, and sponsoring community events. Cannot be used in conjunction with other promotional codes. Ethical Principles in Planning (As Adopted by the APA Board, May 1992) This statement is a guide to ethical conduct for all who participate in the process of planning as advisors, advocates, and decision makers. My ethical perspective has broadened via this program as I have understood the linkage between ethics and its implications on the organization from strategic perspective. Ethics and social responsibility occupy an important place in our personal value system. Free Management Library: Business Ethics and Social Responsibility. Ethics guarantee that an organization accomplishes its mission, vision, goals, and objectives in a manner that will give a business a sense of direction and framework. Company Registration No: 4964706. Strategic planning is relevant when corporate ethics are discussed because corporate ethics serve a crucial role in the strategic planning process. She holds a Certified Accounting Technician qualification and is currently pursuing professional status through the Association of Chartered Certified Accountants. 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. The program has taught me the relationship between ethics and the different components of the strategic plan of the organization. Ethics must be incorporated in the strategic planning process so as to build trust on the part of all stakeholders of an organization (Hosmer, 2007). Business exists for many reasons but survival ultimately depends on profits. You can view samples of our professional work here. Five ways a company can ensure ethics is included in their strategic planning are: Establish explicit ethical goals and criteria. 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. *You can also browse our support articles here >. What individuals ought to do, usually in terms of rights, obligations, and benefits to society, fairness, or specific virtues. The Role of Ethics in Strategic Planning Reflecting critically and actively on honest issues can be an obligation of every professional. Ethics ensure that a company achieves its mission, vision, goals, and objectives in such a manner that they give a company a sense of direction and framework. During the planning process, the team should take a fair and truthful look at the possible risks and impact of decisions reached. Customer confidence in how business operates has been severely shaken by recent corporate scandals and collapses, such as Enron and bank failures. 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). All work is written to order. Members should be truthful and frank in providing ideas and comments. Reflecting critically and actively on ethical issues is an obligation of every professional. 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. Registered office: Venture House, Cross Street, Arnold, Nottingham, Nottinghamshire, NG5 7PJ. It can be an aid to recruitment and retention. 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! 1st Jan 1970 Strategic planning is an essential preliminary step in the corporate world in which senior management defines the organization’s strategy, direction and decision-making. There are four elements strategic planners should develop when considering ethical alignment: Reflecting such honest content or implications in one's decisions and activities must be salient in every facet of how companies operate. Copyright © 2003 - 2020 - UKEssays is a trading name of All Answers Ltd, a company registered in England and Wales. Constructive comments develop more intellectual discussion but should be dealt with in a way which does not hurt the other members' feelings. Ethics ensure guidelines are created that bind the entire organization into one common thread, govern the action of the organiza… Ethical values and social responsibility serve an important role in the strategic planning process. corporate profits. Promotion runs from 00:01am to 11:59pm (GMT/UTC) on the 27th November 2020. First, it refers to well based standards of right and wrong behavior. To be their most successful, companies must consider ethics and social responsibility as critical parts, inherent components of strategic plan. Management It goes beyond good public relations tactics or being nice to have. Internal behavior planning generally starts in the Human Resource Department.