Ethics and Business Essay

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Ethical Awareness Inventory

When it comes to developing a corporate strategic plan, ethical companies will consider the role social responsibility plays as a factor when considering the needs of the stakeholders. While profit may be the basis of the entire corporate structure, it cannot be the only factor considered when developing strategic plans. Ethics must also play an active role in corporate thinking and planning. When employed, ethics can guide a company so that it plays a role in the larger society in which it operates. In the case of developing strategic plans, corporate social responsibility must be an important factor when considering the needs of stakeholders.

In order to ensure ethics are a factor in strategic planning, companies must create and commit to specific ethical principles and goals which are not only taught to and expected of employees, but monitored and evaluated on a regular basis.

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Instructions in ethics is not enough, it must be constantly encouraged through the behavior of management. When a company makes ethics a fundamental aspect of the corporate environment, social responsibility will be a natural extension of this type of thinking.

The impact the company has on society at large must become an integral factor in strategic planning. Companies must remain profitable, but they must also take into account the needs of society and the stakeholders in the company. This includes not only stockholders but employees, vendors, suppliers, neighbors and others who are affected by the company and the decisions it makes. Therefore, companies must always remain within the bounds of the law and do what is right, just, and fair when dealing with….....

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