This paper will analyze the role of Ethics and social responsibility in developing a strategic plan while considering stakeholder needs and agendas, engaging an example that is taken from real life and discussion preventive measures that could have been utilized to avoid this kind of situation.
Speaking of role of Ethics in creating a strategic plan, one might point out the following. First of all, the engagement of the above mentioned concept allows people to focus on achievements in the long terms perspective, avoiding actions that might bring benefits in the short run, but result in devastating consequences in future. In addition to that, Ethics makes sure that the corporate plans respect human rights of the employees and provides with reasonable conditions to work in. Finally, it helps the stakeholders to find a perfect balance between their goals and the available tools to achieve them.
There is another concept that should be taken into account while considering the issue in question. It is called corporate social responsibility. One might suggest that the acknowledgement of it is relatively new since businesses in the previous ages did not pay enough attention to it; nevertheless, nowadays it is considered to be one of the pillars that hold the strategic development of a company. Another point that should be mentioned with regard to corporate social responsibility lies in the fact that only company with a developed corporate culture are able to take this concept into account. Indeed, the essential part of it focuses on the acceptance of influence that an organizations has on the environment, both social and natural, as well as readiness to be responsible for any changes that are introduced, positive or negative. So, corporate social responsibility makes sure that the way the stakeholders want to achieve their goals is a sustainable one.
It may be particularly useful to