Wednesday, July 2, 2014
Ethics refer to the primary principles of a single or a group. Social responsibility is how a business operates its activities to reach its wider requirements toward the society and environment, such as by dodging activities which may be damaging. Strategic planning is a necessary initial step in the corporate world in which senior management defines the organization's strategy, direction and decision-making. Ethical values and social responsibility serve a considerable role in the strategic planning process.
Social Responsibility To the Stakeholders
Management must confirms that strategic decisions are ...view middle of the document...
Constructive comments that build more intellectual conversation but should be dealt with in a way which does not harm the other members' emotions. Conversation in a friendly environment improves the relationship with the members, strengthens the strategic planning process and resolves in better decision-making.
Fairness and Truthfulness
During the planning process, the team should take a satisfactory and truthful look at the possible risks and impact of decisions accomplished. These need to be thoroughly examined to maintain the welfare of the stakeholders such as employees and the civilization at large. Members should be truthful and frank in giving ideas and comments.
Strategic Plan Example
In the 1990s, Nike had very heavy criticism for alleged sweatshop conditions in some of the foreign-owned factories in Asia that where they manufactured its products. Critics charged that many workers were underage and also most of them were underpaid. Some consumers prohibited Nike products, activists groups condemned the company’s labor policies, and students on a number of campuses staged demonstrations to protest Nike’s labor practices.
Nike’s initial reaction was opposing. On the one hand, discussed top management, Nike could not control the factories because it did not own them. At the same time, Nike spokespeople participate to add, Nike managers were in the factories on a regular basis to make sure that owners were complying with Nike’s labor standards and going by its code of conduct, which set...