The_Role_of_Ethics_in_a_Strategic_Plan

The Role of Ethics and Social Responsibility in Strategic Planning Organizations and businesses are expected by people in society to behave and act in a way that reflects a social and ethical responsibility of the business. Many stakeholders want what they perceive as an appropriate return on their investments. Companies understand that to be successful, companies have to consider social responsibility and ethics as critical parts, and essential parts of a strategic plan. Social and ethical responsibility standards have to be put in as a part of the strategic process in before-profit information rather than after-profit results if any company wants to accept the best and highest benefits or profits. This paper will explain the role of ethics and social responsibility in developing a strategic plan, and considering the stakeholder needs. To give an explanation on the role of ethics and social responsibility, it is important to know the meaning of ethics and social responsibility. Ethics basically reflects moral principles which society depicts about the actions of a person or group that reflects a right or wrong. What ethics does is ensures that companies and organizations achieve their missions, visions, goals and objectives giving the company an idea of framework and direction. Ethics help ensure guidelines which can help the organization combine into one common bound, oversee the actions of the company’s employees, and avoid movement away from the strategic path. When looking at social responsibilities on the corporate level, it reflects the idea that organizations or businesses have a duty to provide society and the financial interest of the stakeholders. Companies believe that it is the goal to maintain viability through long-run profitability. Corporate Social Responsibility gives companies the idea that, “there is a responsibility to serve society in general and the financial interest of stockholders” (Pearce, Robinson 2009). It seems that in social responsibilities managers face a diverse and commanding approach from stakeholders. Many times in society claims have been brought about linking corporate social responsibility to firm’s profit, through media, professional publications and some social responsibility publications. Corporate Social Responsibilities have five principles that are successful collaborative social initiatives. When the initiatives are put into the CSR companies can maximize the company social contributions while going forward with broader strategic goals. The first of the principles are Identify a long-term durable mission, which means that when companies identify and important policy challenge and can work together to find a solution over the long term. The second principle is contributed or in other words what we do. Companies basically maximize the benefits of the corporate contributions. This causes the contributions to create a mutually beneficial relationship between their partners giving the social purpose the initiatives to get maximum gains while minimizing the company cost and diversions. The third principle focus on contribute specialized services to a large scale underwriting. By making large contributions to large cooperative efforts, companies may have the greatest social impact. The forth principle is weigh government’s influence. When governments support businesses direct or indirect this can help business participation and contribute to the success of CSI’s. Assemble and value the total package of benefits is the fifth principle. What this does is reflect the idea that companies gain the greatest benefits from those who contribute whenever they put a price on the benefit package. All of the principles are important to corporate social responsibilities. What these five principles are doing is focusing on a better outcome for society and for corporate contributors.