Reference no: EM13924677
Ethics Reflection Paper
Ethics and social responsibility are integral components in developing a strategic plan while considering stakeholder needs. As such, ethics and social responsibility should be deemed as an essential strategic concern within all organizations. Ethics and social responsibility has the capacity to make or break an organization; the success of an organization's strategic plan is dependent upon it. This paper will explain the role of ethics and social responsibility in developing a strategic plan while considering stakeholder needs. Lastly, this paper will elaborate as to how my ethical perspective has evolved throughout the program.
Ethics in Organizations
An organization needs to adhere to ethics in order to effectively implement its mission, vision, and objectives in a way in which offers a solid foundation to management and their subordinates to properly develop and implement its strategies. By doing so, the organization as a whole is essentially subscribing to one commonality that directs all of the actions of the employees of the organization. Additionally, it assists in preventing such employees from divergence in regard to the proposed strategic guideline. Ethics additionally ensures that a strategic plan is developed in accordance to the interests of the appropriate stakeholders of the organization, both internal and external (Jin & Drozdenko, 2010). Likewise, corporate governance that stems from various regulatory parties makes it necessary for organizations to maintain a high degree of ethical standards; this is done by incorporating ethics within the organization's strategic plan so as to foster a positive corporate image for the stakeholders and general public (Min-Dong Paul, 2009).
When an organization places emphasis on its ethical practices, it essentially ensures that the organization has considered the various ethical implications of every plan of action within its strategic plan. By doing so, the implications become an integral part of the organization's overall scope. It is necessary for all organizations to integrate ethics into its strategic planning process in order to represent its core values to internal and external parties in a positive manner; this will assist in strengthening the organization's image (Jin & Drozdenko, 2010). As a result, the majority of stakeholders will have the assurance that the strategic plan serves their requirements and better interests
|
Estimated monthly variable costs using the high-low method
: Rooter's Cleaning Services provided data concerning the costs incurred to clean hotel rooms for which hotel customers pay $150 per night. Data for the past 7 months are as follows: January February March April May June July Number of rooms cleaned 25..
|
|
Significance of the research study for particular audiences
: Continue to identify and/or refine a research problem to be studied. Explain the significance of the research study for particular audiences
|
|
What is the price elasticity of demand for the t-shirts
: The author defines market equilibrium as generating the largest possible total surpluses and being efficient when four conditions are met. What is meant by "total surpluses", and what are the four conditions that must be met? Can you name a market..
|
|
Conventional departmental organization by function
: Production starts in the drilling department, where each fitting requires an average of one minute on a CNC machine. Because of the length of time required to set up a CNC machine to produce a certain model, the fittings are produced in batches of 2,..
|
|
Ethics reflection paper
: Ethics and social responsibility are integral components in developing a strategic plan while considering stakeholder needs. As such, ethics and social responsibility should be deemed as an essential strategic concern within all organizations.
|
|
Standard costs of products produced in same production cell
: Standard costs of products produced in the same production cell. Colt Controls has a lean production cell dedicated to producing product A, a small circuit board. They have decided to produce a second circuit board, product B, in the same production ..
|
|
Characterize pastoral societies
: 1. Nomadic pastoralists have permanent settlements; and complete households shift location with the herd. House structures are highly stable, such as a tent or yurt.
|
|
Discuss some of specific decision that need to be considered
: Discuss some of the specific decisions that need to be considered when evaluating the performance of a bond portfolio manager.
|
|
What is the real risk-free rate of return
: Suppose 1-year T-bills currently yield 6.00% and the future inflation rate is expected to be constant at 2.95% per year. What is the real risk-free rate of return, r*?
|