Describe the role of ethics and social responsibility in developing a strategic plan, considering stakeholder needs. Please provide references.
According to Peter Drucker, ethics plays a structural role in shaping the strategic plan of an organization. Prior to developing a strategic plan, a business must determine what it stands for, what its purpose is, and its values (Schulman, 2006). To this end, the ethics of the organization must be incorporated into the company's mission statement and all of its actions. In this manner, ethics will help to form the strategic plan by determining actions and visions that are acceptable according to the moral path chosen by the company.
Ethics are defined as "the moral principles that govern a person or group's behavior" (dictionary.com, 2012). In a company, these ethics are determined typically by the top management and demonstrated through their actions. Determining the shared values and using these to craft the strategic plan can give fundamental value to an organization. In contrast, failure to ...