Ethics

Ethics Reflection

Susanna Gaspar

STR 581

August 31, 2015

Tom Greco

Ethics Reflection

Ethics is defined as the moral principles of any given system or rules of conduct towards people or a group of people ("Dictionary.com", 2015). Ethics are necessary in any business setting where people are involved with each other. They are intended to help us work with any person from any culture or background, without bringing personal bias or prejudices into the mix.

The Role of Ethics in Strategic Planning

Strategic Managers define the company mission based on the rights of their company’s claimants. These claimants are not just the employees and stockholders involved in the company but also society. When creating a strategic plan they must first look at how their plan affects each of these groups individually and as a whole. A stakeholder is always looking at the bottom line, wanting to know when they are going to make a return on their investments. The employees want satisfactory work, the government wants the rules to be followed, the customers want to get what they pay for, suppliers want reliable buyers, competitors want fair competition, and so on (Pearce & Robinson, 2015, ). The role of ethics and social responsibility in developing a strategic plan is to ensure that all claimants are represented in the strategic plan. The manager needs to understand what each claimant expects to get and then needs to implement it to the best of their abilities.

Ethical Perspective

Over the course of 15 months, while working towards a Master’s of Business Administration I have learned a great deal about ethics. The Business Law class has taught me that ethics play a great role in keeping issues at bay. The management and leadership classes have taught me that complying with ethical standards help to prevent any illegal or immoral behavior within the workplace. And the Marketing class taught me that ethics are deeply involved in how a company is able to...