Ethics and Responsibility in Strategic Planning

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Ethics and Responsibility in Strategic Planning Charles Walker MGT/498 Strategic Management December 10, 2012 John Hawes Ethics and Responsibility in Strategic Planning A strategic plan is the direction the organization desires for the future. Strategic planning decides the general course and objective of the business. Many factors are to be considered when making a strategic plan including the ethics and social responsibility of the organization. An organization can actually enhance the financial position of the organization by being socially and ethically responsible. An organization can deter costly government regulations by being socially ethical and responsible “The concept of social responsibility proposes that a private corporation has responsibilities to society that extend beyond making a profit.”(Wheelen, T. L., & Hunger, J. D. (2010). The organization should consider the communities needs before a strategic plan is developed and should determine the best course to meet the communities and stakeholders expectations. “Social responsibility, therefore, includes both ethical and discretionary, but not economic and legal, responsibilities.”(Wheelen & Hunger (2010)).An organization by being in good standing in the community where the business operates tends to develop a loyal customer base. A loyal customer base trends to adding value to the organization which meets stakeholder’s expectations “A firm can fulfill its ethical responsibilities by taking actions that society tends to value but has not yet put into law.” (Wheelen & Hunger (2010)).The organization can keep government regulations down by becoming socially active or responsible. An example would be Coca- Cola adopting a concept of only allowing diet drinks to be sold to high school students and water to be sold to middle and elementary students. Coca-Cola doing this headed off

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