Ethics

The major concern of any shareholder is to maximize the profit of the business; therefore organizations that seek to maximize their profits tend to periodically redefine the company’s missions and strategies. Those in successful strategic management positions also realize the importance of social responsibility. Strategic managers must recognize the importance of the stakeholders, which include stockholders and employees, while also considering the importance of outsiders such as suppliers, local communities, government roles, and the public (Pearce & Robinson, 2011). Because incorporating social responsibilities into the company’s mission is not an easy task, any organization that incorporates the interests of the internal and external stakeholders into its mission statement must consider the following steps:

1- Identify all internal and external stakeholders

2- Understand the stakeholders’ needs and expectations

3- Prioritizing the stakeholders’ needs and expectations as well as the reconciliation of stakeholders claims

4- Coordinating the claims, needs, and expectations with the company mission (Pearce & Robinson, 2011).

Ethic/Social Responsibility

In management, ethics is like the rules or guidelines that help employees display proper conduct according to the company’s personal standards and values that management has chosen to use to define the company. The company will incorporate their chosen beliefs and values in the strategic plan. This will guarantee that the employees will comprehend the rules and be able to make sound ethical decisions. The company’s values and beliefs are outlined in the mission statement, vision, and philosophy which give the employees the guidance, purpose, and an understanding of the company’s mission and goals. When the employees comply with the overall mission and vision statement, it can assist in setting company goals and help strategically plan for the future while maintaining the integrity of the ethics of all core...