Ethical Principles of Developing a Strategic Plan - Essay Example

Ethics paper If one takes a close look at the modern business world, one will be able to see that it is quite different from what humanity has witnessed in the previous centuries. One of the most important concepts that are being utilized by contemporary companies is business ethics. Contrary to that, if ethical principles were enshrined in the course of developing a strategic plan, then it will allow an organization to find the correct solution to every problem that it faces.

In addition to that, the concept of social responsibility is closely tied to the application of ethical principles in a strategic plan. Indeed, the force that should drive an organization to improve one’s performance and make it more sustainable is the acknowledgment of the impact that it has on the social environment and accepting responsibility for these actions. This means that such a strategic plan would urge the organization to minimize its negative impact on the environment in case it has any.

Moreover, it will provide effective ways to adjust the current practices to make sure that the performance does not cause any damage. However, it must be noted that while applying ethics and accepting social responsibility, the company should also take into consideration the needs of stakeholders. By definition, stakeholders are the people for whom certain actions make an essential difference (Freeman, 2010, 44). One should keep in mind that stakeholders are often found not only inside an organization but outside of it as well.

That is why the most essential part of developing a strategic plan that would be both ethical and socially responsible is not to overlook the needs of any stakeholders. This means that a company should carry out an objective investigation of the state of affairs and identify the primary stakeholders. Throughout the program I felt that my ethical perspective has evolved: now I can take into consideration the point of view or concerns of other people even though I may not agree with them. In addition to that, I pay much more attention to the long-term perspective since I was able to see the way consequences can shape the outcome of any action; that is why, I think several steps ahead.