STR 581 Week 1 Ethics paper
The society and people expect various businesses and organizations operating in the society to act in a manner which shows their commitment towards work and fulfills the ethical and social responsibilities as well. Mostly stakeholders invest to gain appropriate returns on their investments in little period of time. In case of companies, they have realized the importance of ethics and social responsibility as an integral part of their strategic plans. This would in turn help them to be successful in the future. Nowadays the companies have to put forth ethical and social issues in their strategic process ahead of the before-profit issue rather than the after wards. This will help yield more profits and provide higher benefits to the organization as the clients are more towards these things. The purpose of this paper is to explain the role played by social responsibility and ethics towards the development of a strategic plan, keeping in mind stakeholder needs.
Firstly, before giving an explanation about the role of social responsibility and ethics, their meaning should be known to have a better understanding of the facts. In general ethics can be defined as the principles which are depicted by the society of an individual or a group of people through their behavior and actions about right and wrong. Ethics makes sure that the organizations and companies are able to achieve their goals, visions, missions and objectives which help company move towards the right directions. By devising guidelines known as ethical codes of an organization, these help to follow the actions of the employees and combine the organization into a single unit working for one goal. These guidelines also help fulfill the social responsibilities and keep the organization on the right path. At the corporate level when we look at the social responsibilities, organizations have the responsibility and duties towards the betterment of the society keeping in mind the interests of people attached to it. Companies of today have to keep these issues in mind as well as earning profits in the long run. These types of responsibilities give the co