The Ethics Awareness Inventory and Ethical Choices in the Workplace - Essay Example

Ethics and social responsibility play a very significant role in developing a strategic plan in as far as stakeholder needs are concerned. According to Kotler & Armstrong (2004), businesses are governed by social codes as well as professional ethics for the betterment of their performance. Basically, ethics refers to the values, principles and standards that operate in a given organization and they try to distinguish between good and bad morals in business (Rossouw, 2004). These values are regarded as enduring and essential and they should not be compromised for financial gain (DesJardins, 2006).

On the other hand, the concept of social responsibility suggests that there is need for a company to try to establish goodwill with the members of the society in which it would be operating. The concept of social responsibility maintains that businesses are part of the larger society in which they operate and they should be accountable to the society for their operations they will be undertaking. This entails that the organisation should try to create a fine balance between its goals and objectives and the needs and interests of the stakeholders and the members of the society at large.

Therefore, these two concepts are interrelated and they play a very significant role in the development of a strategic plan by a company that is concerned about achieving its desired goals from its operations. In as far as strategic planning is concerned; it can be observed that enlightened managers always try to do the right things for the betterment of the company. It is imperative for any business to try to create a balance between its organizational goals as well as its social responsibility initiatives so as to be in a position to fulfil the needs of the stakeholders.

This helps to create mutual understanding between the organization and its stakeholders which can also help it to operate viably in the long run. When managers in the organization make strategic plans about their operations, they ought to take into consideration the fact that they are in business to generate profits while at the same time serving the needs and interests of the people. In order to appeal to the interests of the targeted people, the organization should make sure that its profits oriented goals do not compromise the needs and interests of the stakeholders who may be impacted by its operations.

Failure to adhere to this principle may result in the stakeholders shunning the organization which can negatively impact on its operations in the long run. The ethical perspective in this program has evolved after realising that the survival of the organization in its operations hinges on the quality of its relationship with the stakeholders. In order to operate viably, the concept of best practice is very important in the operations of the company since it significantly helps to shape its ethical perspectives in carrying out its business.

A company that uses orthodox means in carrying out its business stands better chances of creating mutual understanding with its stakeholders which can positively contribute towards the attainment of its desired goals. Thus, the concept of best practice is mainly centred on issues such as transparency in its operations such that it can satisfy the needs of the stakeholders involved in its operations. In as far as attainment of the company’s strategic goals is concerned, it can be observed that the needs of the stakeholders are very important in shaping its ethical code of conduct.

This is very important since it helps to create trust among the stakeholders impacted by the operations of the organization. Companies that value the needs and interests of the stakeholders also stand better chances of attracting more customers while at the same time retaining those already existing. This is very important since it helps the organization to sustain its operations. Overall, the concepts of social responsibility and ethics play a pivotal role in determining the success of the company hence the need for managers to take them into account when deciding strategic plans for the company.

More people will be attracted to the organization if upholds professional ethics in its operations. References DesJardins, J. (2006). An introduction to business ethics, 2nd Edition, Boston: McGraw Hill International Edition. Kotler, P. & Armstrong G. (2004). Principles of Marketing, NJ: Pearson Education International. Rossouw, D. (2004). Business Ethics: 3rd Edition, CT, Oxford.