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Reflection Summary Of Week 2 Essay

716 words - 3 pages

There are six steps management should follow when planning. Situational analysis is the first step where people gather relevant information needed for issue. The next step is generating alternative goals and plans. Then evaluate each alternative. Next select the best plan or goal out the alternatives. Implement the chosen plan or goal. Finally monitor and control the plan to ensure you are getting the desired outcome.
Strategic planning involves setting the long-term goals and strategies for the company. It basically means setting the course that the company will follow for the future. It involves setting strategic goals, which are major targets the company wants to meet, ...view middle of the document...

There are four factors that may influence any contingency plan. Those factors are goals, government regulations, profitability, and other considerations that can come up.
There are three factors that affect the planning process. These three factors consist of corporate social responsibility, ethical responsibilities, and legal responsibilities. Corporate social responsibilities are the obligation toward society assumed by a business. It reflects the social imperatives and social consequences of a business’s success. It concentrates mainly on policies and practices that reflect business responsibilities. Corporate social responsibility is not legally required but is ethical and can garner them greater respect from society. There are many companies solely looking out for their bottom line and will throw anyone under the bus to achieve the end. Making sound decisions can be difficult, but companies owe their employees and the community sound business practices that ensure the safety of the community and the employees.
Ethical Responsibilities involve meeting other social expectations that are not any type of law or regulation. Many companies have implemented certain ethical guidelines in their...

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