Running head: ETHICS REFLECTION PAPER

Ethics Reflection Paper

ETHICS REFLECTION PAPER Ethics Reflection Paper What is ethics? Ethics is described as the discipline related to what is good and bad and with moral duty and obligation (Merriam-Webster, 2013). Within the last 10 years, ethics and

social responsibility has become a popular topic due to multiple instances where individuals who represent businesses displayed poor ethical standards. Businesses are held to higher ethical standards and are expected to operate in a way that is equally ethical and socially responsible while earning revenue. On multiple instances companies have experienced that these strategies are inconsistent with each other versus complimentary. When strategically planning, it is essential to include stakeholders since they are positively or negatively affected in business decisions. When including stakeholders, management should consider internal stakeholders, these consist of stockholders and employees while external stakeholders consist of suppliers and the public (Pearce & Robinson, 2011). The significance of any for-profit company would be to earn revenue while exceeding their customers expectations.

The Role of Ethics and Social Responsibility Ethics are directives and strategies utilized to support management and staff on how to conduct themselves on and off the job at all times. It is important to guarantee a companys policy is adhered to because employees must comprehend the tactics executed by the owners, stakeholders, and staff. The tactics include the mission statement, vision statement, and the companys values. These tactics characterize and plainly state the basic beliefs, values, priorities, and purpose for the economy, environment, and the stakeholders. The strategic plan implemented should build a strong and flexible stance that allows the organization to achieve goals in spite of unforeseeable forces. (Mintzberg, Lampel, Quinn, & Ghoshal, 2003).

ETHICS REFLECTION PAPER The Role of Ethics Ethics has a very important role in developing a strategic plan since stakeholders are forced to encompass a plan, a ploy, a pattern, a position, and a perspective. Mintzberg et al, (2003), states Each definition adds important elements to our understanding of strategy and encourages us to address fundamental questions about organizations in general (p. 6). Ethical analysis includes dynamics such as efficiency, loyalty, rationality, diligence, trustworthiness, equality, cooperation, justice, integrity, environmental concerns, and morals. Stakeholders consist of stockholders, creditors, employees, customers, suppliers, governments, unions, competitors, local communities, and the general public. Ethical standards imitate the end result of the defining and clarifying process of human interaction versus a generalized accepted code (Pearce & Robinson, 2004, p.60). Organizations that follow and believe in the ethical protocol are normally the organizations that remain in business. These organizations have stakeholders that are interactive with daily operations and loyal customers.

The Role of Social Responsibility Social responsibility has the responsibility of developing a strategic plan that takes stakeholders needs into consideration since the organization has an obligation to serve society as well as the financial interest of stockholders. (Pearce & Robinson, 2004, p. 53). Managers are aware of the needs of social responsibility due to three chief components: responsiveness to the environment, second, federal, state, and local government regulations, third, responsive corporate social policy may enhance long-term viability. (Pearce & Robinson, 2004, p. 53). Stakeholders are aware that the primary goal of any organization is earning revenue. Without revenue, stakeholders needs are unable to be successfully met. Management has the responsibility of

ETHICS REFLECTION PAPER identifying the rights of the consumers, suppliers, investors, and employees. The mission statements must distinguish external stakeholders because it symbolizes what the company believes in. Globalization has an important impact on the social responsibility of organizations. Organizations integrate social responsibility due to diverse in cultures, individuals, and international affairs.

My Ethical Perspective My ethical perspective has expanded throughout the MBA program. A key factor in the success of an organization relies on ethics and integrity. All of my teachings encompassed ethics, from math to history. As a requirement, students at The University of Phoenix are placed into teams to work on specified projects in a timely manner to meet particular goals. In business, management and business owners must identify the legal consequences of socially negligent behavior. Stakeholders are the backbones of an organization; they have the responsibility of remaining honest and encouraging ethical standards in order to justify development and profitability.

Conclusion In order to gain success and remain successful, organizations must adhere to a set of rules and policies. Ethical and social decisions are created to support the organization and society. Companies should become proactive in damage control due to possible obstacles. By becoming proactive negative public images and behavior concerns are eliminated or identified immediately which allow for guidelines to be adjusted properly. In developing a strategic plan it

ETHICS REFLECTION PAPER is important to consider the significance of ethics and how social responsibility could affect the stakeholders.

ETHICS REFLECTION PAPER References Merriam-Webster. (2013). Ethics. Retrieved March 09, 2013, from http://www.merriamwebster.com/dictionary/ethic Mintzberg, H., Ghoshal, S., Lampel, J., and Quinn, J. (2003). The strategy process: Concepts, contexts, cases (4th ed.). Upper Saddle River, NJ: Prentice Hall. Pearce, J. and Robinson, R. (2011). Strategic management: Formulation, implementation, and control (12th ed.). Boston,MA: McGraw-Hill/Irwin.