Ethics can be explained as the basic principles of a person or group. Social responsibility is the way a company executes various operations to achieve its broader commitments or responsibilities with regard to the environment and society. For example, the company avoids some operations that can harm the environment. Strategic planning is an important step in the implementation of certain projects and includes a process in which the company describes the decision-making process, course, and strategy. Therefore, social responsibility and ethical issues play a significant function in the strategic planning practice.
Strategic planning is the practice of generating policies, vision statement, mission statement, and effective decision-making to make sure that the organization’s success is achieved. The organization’s success is the essential attention of the stakeholders and to meet this interest, some considerations should be kept in mind in the strategic planning practice. The business world has experienced some scandals in the market activities, where these issues have forced companies to integrate social responsibility and ethical principles into strategic planning practice. The intention of ethics and social responsibility practice is to initiate visible public image and relations that help increase their productivity and accountability (Labbai, 2007).
Management should make sure that strategic decisions are made and adopted after keeping in mind the potential effects on the stakeholders. Moreover, stakeholders may include the community, buyers, suppliers, and anyone affected by the operations of the company. Stakeholders must be treated equally so that the company can be considered socially responsible. The company should also have a wider perspective regarding the effect of the planned actions on social and environmental issues (Sims, 2003).
The company should organize a management meeting that allows all participants the chance to give their opinions and comments about strategic planning. The meeting should be carried out in a professional and rational approach, and everybody should be free in raising ideas without discrimination or fear since it supports enhancing the quality of the decision-making process. Currently, companies are supposed to be socially responsible and to carry out ethical leadership and management techniques (Grbac & Loncaric, 2009). These approaches include treating all workers or stakeholders fairly and producing or buying commodities that have been certified in an ethical manner.
The participants during the decision-making process should appreciate and value the ideas of other participants by allowing them to engage fully during the process. Positive remarks generate more intellectual and rational discussion, but they must be managed in an approach that does not harm the feelings of other participants. This shows a case in which ethical values are integrated into the decision-making process. Discussion in a sociable setting enhances the relationship among the participants, reinforces the strategic planning practice and leads to effective decision making (Grbac & Loncaric, 2009).
As I complete this program, there is a significant change in my ethical perspective. My business classes in this university have included, to a certain extent, some lessons in ethical issues. My studies and research on some local and international companies have provided me with an enhanced knowledge of ethical and unethical activities within the company. The program has helped me understand the issues that the company should follow to achieve its success. Individuals and companies should make a conscious effort to demonstrate ethical values continuously.
In conclusion, the ethical principles should be implemented by every level of the management to help them provide effective strategic planning process. This can be achieved by providing open discussion and keeping in mind the effect that the planned operations have on the society and environment. Some measures should be put in place also to control and analyze whether the company is adhering to the ethical principles and social responsibility.
Grbac, B., & Loncaric, D. (2009). Ethics, social responsibility and business performance in a transition economy. EuroMed Journal of Business, 4(2), 143-158.
Labbai, M. (2007). Social Responsibility and Ethics in Marketing. Economic Journal, 2(1), 18-27.
Sims, R. (2003). Ethics and Corporate Social Responsibility: Why Giants Fall. New York: Greenwood Publishing.