This paper will examine the role of Ethics and social responsibility in developing a strategic plan as well as engage some personal reflection.
To begin with, one should note that while Ethics might seem as an abstract matter that does not have any real application to the business world, it may be rather helpful because of several reasons. On the one hand, it provides a company with comprehensive guidelines who to treat people who are engaged in the business activity (Pearce & Robinson, 2013). In other words, it sets the ground rules that every one is obliged to follow. On the other hand, this results in the emergence of effective interaction and contributes to the success of the strategic plan that is being developed by a company.
In addition to that, one should also note that notion of social responsibility is the one that should be engaged in the discussion as well. It is truly essential for a development of a strategic plan since it allows the company to identify the stakeholders who will be affected by the actions which will be carried out. With this in mind it is rather easy to outline the future impact and introduce certain adjustments if necessary. Furthermore, it provides a company with an ability to make rough predictions about its future and the nature of interaction with the public, avoiding possible conflicts that might ruin this cooperation from the very beginning if an organization is careless about its influence.
What is more important is that a socially responsible company not only acknowledges its impact, but it also strives to make a valuable contribution to the local environment. This means that an organization tries to minimize the harm that is brought by its activities and launches different programs which may or may not be related to its industry that help the local community in a number of ways. As a result, a company accepts its role is a local member and tries to “do