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Ethics Reflection Paper - Essay Example

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Running Head: Ethics Reflection Paper Ethics Reflection Paper Name Insert Grade Course Insert 10 May 2012 Explain the role of ethics and social responsibility in developing a company’s strategic plan, considering stakeholder needs. The dynamic face of business today requires the use of ethical principles in the day to day running of institutions and companies…
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Download file to see previous pages The stakeholders are any persons dealing with the company directly and indirectly from its work force, clients and the general public in which the organization operates. The organization ensures the development of ethical guidelines and standards, and its implementation followed by each and every member of the organization. This can be done through training and cultivation of an ethical culture, which would enable the satisfaction of each and every stakeholder. Good ethical principles in an organization increase customer satisfaction and retention translating into better financial standings at all times, with healthier profit margins. There is also better retention of employees and customer confidence from the public and regulatory authorities, which is suitable for business. High ethical standards can be achieved through strategic planning and development of an ethical oriented business culture. This is through training and reinforcement of ethical codes of conduct by policies and regulations in an organization. Corporate social responsibility has become an integral part of the business organization strategic planning tool. ...
CSR plays a crucial role in the long term premeditated setting up of a business in the recruitment and retention of competitive employees (Habisch, 2005). An exemplary corporate social responsibility policy that focuses on stakeholder satisfaction improves an organization’s perception by potential recruits and employees, which also boosts productivity and efficiency in organization operations. Strategic planning in managing potential risk from corruption, health scandals and environmental accidents has been the greatest task in business organizations (Eisingerich & Ghardwaj, 2011). A crisis can bring reputable organizations down from the effects of lost customer confidence, which results in low sales. However, social responsibility policies implemented to prevent any scandal emerging in an organization helps in strategically avoiding this. Corporate social responsibility also gives an organization a competitive edge over its competitors in the international markets through customer satisfaction and loyalty. Comprehensive customer responsibility policies also open up more markets through fewer legal hindrances to operate. This is because governments are increasingly giving health safety and environmental conservation priority when licensing new organizations. Discuss how your ethical perspective has evolved throughout the UOP MBA program The MBA program has changed my ethical perspectives approach to management, obligations to self, society, and means to achieve personal and organizational goals. Ethics and social responsibility training expose people to different and varied ways of decision making, management, and strategic ...Download file to see next pagesRead More
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