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J. D. Farmer
J. D. Farmer, Teacher
Category: Homework
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Experience:  High School Teacher; Grad Student; Computer Tech; Internet Researcher
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Explain the role of ethics and social responsibility in developing

Customer Question

Explain the role of ethics and social responsibility in developing a strategic plan, considering stakeholder needs.
Submitted: 6 years ago.
Category: Homework
Expert:  J. D. Farmer replied 6 years ago.

Customer,

 

I am JD Farmer, and I will be assisting you in answering this question.

 

Strategic planning is the process of creating a mission statement, vision statement, policies, and cross functional decisions to ensure a companies success. Since, the companies success is the vital interest of the stakeholder, certain considerations must be taken into account in the planning process. With the recent scandals in the business market more companies are incorporating ethics and social responsibility into these plans. The purpose of ethic and social planning is to develop customer relations and public image. These steps may hinder, to a degree, the rapid increase in capital that unethical practices, albeit legal, might produce. However, the company will save money from law suits and negative publicity in the long run.

 

I hope this helps and can be incorporated into your research on the topic. If you need further assistance I am here.

 

JD

Customer: replied 6 years ago.
Relist: Answer quality.
Caan I get a more detailed answer.
Expert:  J. D. Farmer replied 6 years ago.
THIS ANSWER IS LOCKED!

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