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In Today's Business Environment

Autor:   •  November 2, 2014  •  Essay  •  403 Words (2 Pages)  •  874 Views

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Ethics Reflection Paper

In today’s business environment, ethics and social responsibility play an important role when developing a strategic plan that considers stakeholder needs. The University of Phoenix Masters of Business Administration changes an individual ethical perspective because it never leaves the stakeholder interests behind. The curriculum involves 12 courses and 11 of those focus on how to lead and manage a corporation. There are no excuses upon completion for failing to follow social and ethical guidance.

A strategic plan starts with mission statement. Corporate social responsibility effect on the mission statement not only identifies what product or service a company produces, how it produces it, and what market it serves, it also embodies what the company believes. As such, it is essential that the mission statement recognize the legitimate claims of its external stakeholders, which may include creditors, customers, suppliers, government, unions, competitors, local communities, and elements of the general public (Pearce & Robinson, 2013).

The stakeholders, whether internal or external, need also voice their concerns over the organization’s business practices. The recent acts enacted after the financial meltdown, help stakeholders stay abreast of company’s finances and operations. Although the security exchange commission continues to find ways to ensure transparent business transactions, individuals within organizations continue to operate unethical practices to maximize profits and enhance their personal careers.

The strategic plan incorporates governance reflecting the ethics and social responsibility the organizations intents to follow and enforce. It also helps guide other organizations as it sets the example. In 1980, Whole foods started out with small store in Austin, TX. After almost four decades, the world’s leader in natural and organic foods in North America

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