Ethics Reflection Paper Essay Example | Topics and Well Written Essays - 1000 words

Ethics Reflection Paper - Essay Example The stakeholders are any persons dealing with the company directly and indirectly from its work force, clients and the general public in which the organization operates. The organization ensures the development of ethical guidelines and standards, and its implementation followed by each and every member of the organization. This can be done through training and cultivation of an ethical culture, which would enable the satisfaction of each and every stakeholder. Good ethical principles in an organization increase customer satisfaction and retention translating into better financial standings at all times, with healthier profit margins. There is also better retention of employees and customer confidence from the public and regulatory authorities, which is suitable for business. High ethical standards can be achieved through strategic planning and development of an ethical oriented business culture. This is through training and reinforcement of ethical codes of conduct by policies and r egulations in an organization. Corporate social responsibility has become an integral part of the business organization strategic planning tool. ... CSR plays a crucial role in the long term premeditated setting up of a business in the recruitment and retention of competitive employees (Habisch, 2005). An exemplary corporate social responsibility policy that focuses on stakeholder satisfaction improves an organization’s perception by potential recruits and employees, which also boosts productivity and efficiency in organization operations. Strategic planning in managing potential risk from corruption, health scandals and environmental accidents has been the greatest task in business organizations (Eisingerich & Ghardwaj, 2011). A crisis can bring reputable organizations down from the effects of lost customer confidence, which results in low sales. However, social responsibility policies implemented to prevent any scandal emerging in an organization helps in strategically avoiding this. Corporate social responsibility also gives an organization a competitive edge over its competitors in the international markets through cus tomer satisfaction and loyalty. Comprehensive customer responsibility policies also open up more markets through fewer legal hindrances to operate. This is because governments are increasingly giving health safety and environmental conservation priority when licensing new organizations. Discuss how your ethical perspective has evolved throughout the UOP MBA program The MBA program has changed my ethical perspectives approach to management, obligations to self, society, and means to achieve personal and organizational goals. Ethics and social responsibility training expose people to different and varied ways of decision making, management, and strategic

Strategic management Link between strategic planning and performance Essay

Strategic management Link between strategic planning and performance - Essay Example Here strategic planning is used as a term to illustrate an organisational decision-making process, which can be generally defined as the process of realising the mission, primary goals, tactics, and approaches that govern the attainment and allocation of resources to accomplish organisational objectives (Pearce et al., 1987, p. 658). The major intention of this essay is to contribute new pragmatic evidence on the connection between strategic planning and performance, and to reflect on the effect of a set of related variables on this association. Mintzberg and Lampel, (1999, pp. 21-30) indicate that the term formal strategic planning is an intention to express that an organisation's strategic planning overall process entails apparent systematic procedures used to increase the participation and commitment of those chief stakeholders influenced by the plan. Study on the association between strategic planning and firm's performance has proved indecisive. From the early researches it is revealed that strategic planning improved performance (Herold, 1972, p. 94). However, later studies revealed that there was no patent systematic relationship between them (Shrader et al., 1984, pp. 149-171). Bresser and Bishop (1983) argued that if strategic planning bring in firmness and supports excessive bureaucracy then it might be called as dysfunctional. Despite the sustained significance of performance aim... 101-109) has mentioned that concentration has not been given to strategic planning and performance in experiential study. According to Greenley (1994), primarily, it should enhance the organisation's performance. The basic conjecture of strategic management emphasises on the planning of a task, aims and targets, of which organisation performance is a component, the practice of strategies to achieve these aims and targets, and control to guarantee that the targets are accomplished. Second, the intention of strategic planning is to increase the value of management all over an organisation. As a result this could bring about indirect perfection in performance, although its effectiveness may, certainly, be lost in the intricacy of variables with the likelihood to influence performance. However, managers may understand that it adds to effectiveness, giving them a sentiment of confidence and control. Strategic planning may therefore be useful as a process of management, in spite of the performance attained. In fact, the entire concentration of strategic management evolves around the accomplishment of objectiv es, which correspond to ambitions for future performance. Boyd (1991, p. 355) defines that strategic planning is a mean to run environmental turmoil, which has been adopted by numerous organisations. In addition, formal strategic planning is an unending managerial process, with a number of elements, embracing establishment of objectives and creation and assessment of strategies. A useful strategic planning system creates a link between long-range strategic objectives with both mid-range and functional plans. Planners gather data, estimate, and frame out and build alternative future scenarios. Ostensibly, such activities permit organisations to