Ethics Paper Management - Assignment Example

Download file to see previous pages The decisions concerning strategic planning and management are usually taken by the shareholders of the company or the top level executive unit (Board of Directors). These decisions are related to all resources and structure of the company. The strategic action plan has to be fundamental, stable and long lasting. For these reasons a company needs to involve in its strategy concepts like vision (where we go, what we want) and mission (who we are, what we do). Values and beliefs that are shared within the organization show additional consolidation and commitment of the unit and the staff. Different types of mission statements are issued and among all those of importance to us are the “product – service oriented” and “customer – market oriented” ones. In her “Ethics Awareness Inventory” Williams (2011) argues that to succeed in the long run a company or an individual needs to consider topics like Character (what is good to be rather than what is good to do), Obligation (duty or obligation of individuals), Results (the consequences of our actions, where good should prevail over evil) and Equity (issues related to justice, trust and honesty). Since strategic planning is done mostly by shareholders and Board of directors then “is it done for their sole benefit, only?” When being asked, managers make an interesting rating for the objectives of their business behavior placing customers and government at the top, followed by stockholders and employees. Clifton and Amran (2011) share that the “Stakeholder Approach” is supportive in corporate practices and this is a proper way to achieve a sustainable world. Freeman (1994) is even more straightforward by writing that “Corporation shall be managed in the interests of its stakeholders, defined as employees, financiers, customers, and communities”. In most strategic and business managing sources stakeholders are described as the individuals, groups and institutions most deeply interested in the business of the company and its results. The short list would include customers, competitors and suppliers, as well as administrative, social and political institutions. Ferrell (2004) considers that “customers are key stakeholders that help establish the firm’s reputation and identification” and later “Understanding customer needs and wants and providing customers with high-quality products are the key to the company’s success.” An interesting issue is to discuss one specific group of stakeholders – parents and family members. The Forbes columnist Scott Reeves (2005) cites M. Sophie Beckmann, a certified public accountant and certified financial planner at A.G. Edwards in St. Louis to have said that "Responsibility increases with children" and that "You're now responsible for your spouse and the children. That means planning." And we add: “That means strategic planning.” A family with three children will spent not less than 15 to 20 years being engaged in college-related topics and thus behavioral, money and housing issues. Consider a possible student loan from the U.S. government Direct Loan Program with 10 years repayment period (U.S. Department of Education, 2011) and then it makes a period of nearly 30 years. People from that group of stakeholders would be delighted to learn and know about a company like the American Campus ...Download file to see next pagesRead More