Preview

Str 581 Ethics Research Paper

Good Essays
Open Document
Open Document
851 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Str 581 Ethics Research Paper
Running Head: ETHICS REFLECTION PAPER

Ethics Reflection Paper

STR - 581, Week 1 Assignment

University of Phoenix
Abstract
Elements of ethics and social responsibilities while deciding on the strategic planning. “They are supposed to respect the environment, pursue fairness in dealing with internal and external customers, and strive to improve their communities” (Romani, 1998). Many businesses operate unethically, but it has adverse effect on the customers. So companies must recognize the value of ethics and social responsibility and enforce the standards
The Role of Ethics and Social Responsibility in Strategic Planning Keeping in mind the goal of maximizing stakeholder wealth, companies should develop the strategic
…show more content…
Maintain on-going proactive integrity continuity management” (Valentino, 2007). Keeping in mind the goal of maximizing stakeholder wealth, companies should develop the strategic plans, which can help to move the business forward. “Strategic planning is an organization 's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people” (Wikipedia). Keeping in mind the goal of maximizing stakeholder wealth, companies should develop the strategic plans, which can help to move the business forward. “Strategic planning is an organization 's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people” (Wikipedia). Keeping in mind the goal of maximizing stakeholder wealth, companies should develop the strategic plans, which can help to move the business forward. “Strategic planning is an organization 's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people” …show more content…
“Strategic planning is an organization 's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people” (Wikipedia). Keeping in mind the goal of maximizing stakeholder wealth, companies should develop the strategic plans, which can help to move the business forward. “Strategic planning is an organization 's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people” (Wikipedia). Keeping in mind the goal of maximizing stakeholder wealth, companies should develop the strategic plans, which can help to move the business forward. “Strategic planning is an organization 's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people”

You May Also Find These Documents Helpful

  • Good Essays

    Strategic planning helps guide a business in the right direction to achieve the goals it has set. It makes the company’s intentions clear to employees so that they know their part in the success of an organization. A strategic plan helps the members of an organization alien themselves with common goals. Employees should be committed to the implementation plan as well as poses extensive knowledge of the plan and should receive training in the new procedures in order for the implementation plan to work. This extensive training should include information for a better understanding of the importance of the strategic plan, how to handle the new procedures and also know the benefits and incentives of the strategic plan that is implemented. It is clear that without a strategic plan a business is set up for failure, without any goals not knowing where it is headed. Leaving employees confused about the purpose of their jobs and the organization wandering aimlessly, constantly changing its priorities achieves…

    • 322 Words
    • 2 Pages
    Good Essays
  • Best Essays

    MHA 612 FINAL PAPER

    • 3334 Words
    • 10 Pages

    “For that reason, strategic planning is a method of giving the direction and aligns the firm in relation to the surrounding environment and be competitive. Besides being as a management tool in a firm, strategic planning provides preparedness and modes of response to the environment (Wilson and Eilertsen, 2010).”…

    • 3334 Words
    • 10 Pages
    Best Essays
  • Better Essays

    Strategic planning involves taking information from the environment and deciding upon an organizational mission, and upon objectives, strategies, and a strategic architecture. There are many different ways to go about deciding on your mission. Michael Porter, a researcher from Harvard, had a few ways for developing frameworks for developing an organization’s strategy.…

    • 2286 Words
    • 10 Pages
    Better Essays
  • Satisfactory Essays

    The first form of planning, strategic planning is a "set of organizational processes for identifying the desired future of the organization and developing decision guidelines and provides a map for how an organization will achieve its objective and goals." (Varkey & Bennet, 2010). The responsibilities included in strategic planning are done by the top-level management, such as CEO or presidents, to design and execute strategic plans to create the organization's vision statements. In essence, the strategic planning manages the long-term goals of the…

    • 657 Words
    • 3 Pages
    Satisfactory Essays
  • Best Essays

    University of PhoenixStrategic management and planning is a very important part of all businesses. Without strategic management and planning most businesses will fail. Each business has had a strategic plan formulated at one point. After the plan is formulated then it is implemented and finally controlled.…

    • 4552 Words
    • 19 Pages
    Best Essays
  • Satisfactory Essays

    MGT wk 1

    • 510 Words
    • 3 Pages

    In society there are hundreds of companies competing for your business on a day to day basis. As a management team it is crucial to understand strategic planning, and know how it can help you grow as a company. In corporate terms, strategic planning is making a plan as a company in order to achieve long-term goals and objectives. Upper management must think strategically first, then apply that thought to a process. The strategic management process is best implemented when everyone within the business understands the strategy. There are five stages for the management team to understand they are goal-setting, analysis, strategy formation, strategy implementation and strategy monitoring.…

    • 510 Words
    • 3 Pages
    Satisfactory Essays
  • Good Essays

    Strategic planning is the process followed by an organization in which it defines its strategies and makes plans for proper allocation of its available resources to achieve its objectives. While developing a strategic plan, it is essential to consider the various internal organizational factors in order to help the plan succeed. The internal organizational factor comprises of mission, vision, values and guiding principles, strategy and strategic objectives of the organization. Before creating any strategic plan, it is essential to know where the company is standing and where the company intends to go. The company must look at their have a look at the mission statement and the vision statement of the organization and then they must match it with the required demands and then frame the strategic plan. The mission statement depicts the purpose that an organization has and vision statement determines the future by formulating a picture of the organization. Therefore, they are the most important internal considerations for the development of a strategic plan .…

    • 676 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Strategic Plan Overview

    • 1043 Words
    • 5 Pages

    Strategic planning examines all business aspects and is more than envisioning the future, because it requires setting goals and establishing critical success factors and actions necessary to reach those goals. Goals and actions are tactical plans updated annually or semi-annually to track progress. Strategic plans are made according to each company’s process. Some complete the process every few years, whereas others prefer a five-year interval. Some companies plan a five-year timeframe, whereas others set longer timeframes. In any case, implementation and tracking are never-ending responsibilities for management and employees.…

    • 1043 Words
    • 5 Pages
    Good Essays
  • Satisfactory Essays

    The term strategic planning is defined as “the process of determining a company’s long term goals and then identifying the best approach for achieving those goals”. The components of the strategic planning process consists of clearly defining the goals and objectives of an organization, assessing the internal and external environment of an organization, formulating strategies, implementing and evaluate those strategies, and making adjustment as and when needed.…

    • 254 Words
    • 1 Page
    Satisfactory Essays
  • Good Essays

    Strategic planning has a lot of advantages to it but, at the same time, there are issues/barriers and potential challenges that an organization may face. The tool to the effectiveness of any strategic plan is to find any barrier/challenge and develop a plan to eradicate the barriers. “A strategic issue is a fundamental policy question or challenge affecting an organization's mandates, mission and values, product or service level and mix, clients or users, cost, financing, organization, or management” (Cooper, 2012. p. 185). Some of the challenges include Lack of accountability, Lack of commitment, communication barriers, poor leadership, change, power and influence, lack of understanding…

    • 506 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Strategic management can be used to determine an organization 's mission, vision, values, goals, objectives, roles and responsibilities, etc. Strategic planning is a management tool. As with any management tool, it is used to help an organization do a better job. It is used to focus its energy, to ensure that members of the organization are working toward common goals, to assess and fine-tune the organization 's direction in response to change. Essentially, strategic management is an effort to produce decisions and actions that guide what an organization is, what the organization does, and why it does it. Being strategic means being clear about the organization 's objectives, being aware of the organization 's resources, and incorporating both into being consciously responsive to a dynamic environment. The process is about planning because it involves intentionally setting goals (i.e., choosing a future) and developing an approach to achieving those goals. The process is disciplined and calls for a certain protocol to keep it focused. The process raises questions that help planners observe experience, test assumptions, gather information about the current situation, and anticipate the future environment. Finally, the strategic planning process is about fundamental decisions and actions because choices must be made in order to answer the sequence of questions mentioned above. The strategic plan is ultimately no more, and no less, than a set of decisions about what to do, why to do it, and how to do it. Because it is impossible to do everything that needs to be done in one day, strategic planning implies that some decisions and actions are more important than others. Much of the strategy depends on making the difficult decisions about what is most important to achieving success. The strategic planning process can be tricky and even cluttered, but it is always defined by the basic thoughts outlined above.…

    • 636 Words
    • 3 Pages
    Good Essays
  • Better Essays

    Marketing Planning Models

    • 1364 Words
    • 6 Pages

    The strategic plan is focused on the long term and takes a more corporate view, it reviews a company’s internal and external environments using a market audit, looks at resources for both the present and the future and has strategic goals to adhere to, all of which follow the businesses mission statement. Although finance is important in companies a qualitative rather than quantitative approach is beneficial and helps both types of plan to grow.…

    • 1364 Words
    • 6 Pages
    Better Essays
  • Better Essays

    Each corporation decides which way to go and how to do business. Ethics and social responsibility should play a key role while working on strategic plan for the corporation. Doing business by considering moral values is important for business’s stakeholders. Customers, employees, and investors will evaluate the company on the radar of ethical values. Investors don’t appreciate shady activities that put their money at risk. Customers will not think highly of the company that is cut in doing unethical behavior and most likely will not buy from again. Employees will not think that the company has their back if the company is in wrong doing. It is easy to lose the trust in corporation and it is extremely difficult to restore the trust again. Therefore it is in the best interest of the corporation to do business ethically and be social responsible in the…

    • 899 Words
    • 3 Pages
    Better Essays
  • Good Essays

    Ethics Reflection Paper

    • 828 Words
    • 4 Pages

    Social responsibility and ethics are essential elements in establishing a strategic plan while contemplating the needs of stakeholders. Social responsibility and ethics should be conceived as fundamental strategic concerns within organizations. Social responsibility and ethics have the potentiality to help an organization succeed or fall. The achievement of an organization’s strategic plan relies on it. This paper will examine roles of social responsibility and ethics in establishing a strategic plan while contemplating stakeholder needs. Last, this paper will expand on how my ethical viewpoints have emerged throughout the program.…

    • 828 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Strategic Plans A Strategic Plan is a comprehensive plan in relation to the organisation’s goals and objectives. A Strategic Plan is usually developed with a period of 3 to 5 years in mind. The Strategic Plan should include the overall Mission, Vision and Values (covered later in this material) of the organisation along with targets for the accomplishments the organisation expects to achieve. The Strategic Plan should outline specific measures that will be used to evaluate progress towards achievement of those targets. A Strategic Plan highlights the above information to ensure that all stakeholders understand where the company is heading and how it intends to achieve its targets. Stakeholders can be anyone who has an interest in the company such as Shareholders, Management and Employees. It is common in some organisations for the Human Resources department to have their own Strategic Plan which is developed in line with the organisation’s overall Strategic Plan. For example, in the Strategic Plan of a retail organisation, plans to expand the business by opening one new store per year are outlined, the Human Resources strategic plan should detail how the HR department intends to meet the demands through initiatives such as recruitment and succession planning. Within the Human Resources strategic plan there may also be areas covered such as injury management, performance gaps, reviewing policies and quality assurance for HR services.…

    • 4044 Words
    • 116 Pages
    Good Essays