Ethics Reflection Paper
September 9, 2014
Ethics and social responsibility occupy an important place in our personal value system. Customer confidence in how business operates has been severely shaken by recent corporate scandals and collapses, such as Enron and bank failures. To be their most successful, companies must consider ethics and social responsibility as critical parts, inherent components of strategic plan. Ethical and social responsibility should be considered as part of the strategic process in profit decisions in order to receive the maximum benefit, of corporate profits. This paper analyzes what ...view middle of the document...
Five ways a company can ensure ethics is included in their strategic planning are:
Establish explicit ethical goals and criteria,
Demonstrate commitment to ethical goals and criteria,
Communicate expectations of ethics and train workforce to represent ethical goals and criteria,
“Assess and monitor employee behavior and decisions, and maintain on-going proactive integrity continuity management” (Valentino, 2007)
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.
The Role of Social Responsibility in Strategic Planning
“Another major element of today's strategic planning is corporate social responsibility (CSR) where managers face a varied and increasing demand from stakeholders” (McWilliams and Siegel, 2001). The demand was marked by many claims by connecting social responsibility to company's profits, especially in publications, from the media, and by rising worldwide CSR organizations. Motivating is considered to be worthy, only if a CSR relationship can be demonstrated, then the motivation to spending will increase with CSR activities. “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). 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 wel-lbeing of the society, while minimizing any negative impact of their operations on the society.
My Ethical Perspective
My ethical perspective has changed so much. I am more patient, and seem to work well with coworkers. Before I used to like to work on projects alone, and not ask for...