Ethics Reflection Paper

Ethics Reflection Paper
A company is in business to make a profit. Strategic managers must consider the ethical, economic, legal, and discretionary social responsibilities of the business in the planning process. Recognizing the legitimate rights of stockholders, employees, and stakeholders is crucial when defining the company mission and strategic plan. The challenge facing any company is coordinating the demands of stakeholder groups with the principle set of the company’s operating philosophy to optimize economic success. The role of ethics and social responsibility in strategic planning and the evolution of my ethical perspectives in the master’s of business administration (MBA) program is the basis of this paper.
Role of Ethics and Social Responsibility in Strategic Planning
A company’s mission, vision, and philosophy statements distinguish the ethical stance of the company. Ethical responsibilities reflect the company’s notion of right and proper business behavior and are obligations that transcend legal requirements (Pearce & Robinson, 2011, p. 50). Leadership must communicate to employees the direction, purpose, and understanding of a company’s expectation to ensure everyone makes good ethical decisions and confirm everyone will strictly adhere to the company’s beliefs and values. The ability for a company to link an individual’s natural moral judgment, arrive at a general principle to form an ethical decision, and adhere to the social responsibilities are unequivocal actions of a company. When the claims of stakeholder’s conflict, such as between government and the public, a company’s mission statement must resolve the contradicting claims. Resolving conflict requires a company’s objectives and strategies to be internally consistent, precisely focused and display a single-minded approach. Central to the belief that companies should operate in a socially responsive way for the benefit of all stakeholders is the basis that managers behave in an ethical...