Ethics Reflection

In: Business and Management

Submitted By resia
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Ethics Reflection

April 24, 2015 Strategic Planning and Implementation 581

When it comes to ethics and its meaning one tends to think about the definition of ethics which is basically moral principles that governs a person or group behavior or a branch of knowledge that deals with moral principles and dealing with values relating to human conduct, with respect to the rightness and wrongness of certain actions and to the goodness and badness of the motives and ends of such actions.
Social responsibility is defined as a mode of ethics that implores us to act a certain way which can benefit society. From the social responsibility in the business world, it is how a business can perform its activities to show they can handle different obligations towards society. Strategic planning is a preliminary step in the corporate world in which management defines the organization's strategy, direction and decision-making. Ethical values and social responsibility serve a very important role in the strategic planning process.
Social responsibility to stakeholders is a very important process to focus on in the strategic planning process. Management must ensure that strategic decisions are reached even though the possibility can impact the stakeholders. Stakeholders are the following: suppliers, customers, societies and anybody who is affected by the activities of the business. A socially responsible company will treats stakeholders equal across the board.
Company stakeholders have a social responsibility to act for the good of the entire company, not just looking out for their own self-interests. Stakeholders push must not be based purely on financial…...

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