Strategic planning and implementation ethic reflection

Ethics in strategic management slideshare

Five Forces The Five Forces model aims to help businesses understand the drivers of competition in their markets. Examples of the kind of issues that tend to get overlooked by growing businesses include: The future role of the owner - for example, it may be in the best interests of the business for the owner to focus on a smaller number of responsibilities, or to hand over all day-to-day control to someone with greater experience. Using key performance indicators KPIs and setting targets and deadlines is a good way of controlling the process of introducing strategic change. This cut down on cost of hiring and training new people. Organization should have departments within the company to guarantee that the company is in observance with all regulatory necessities. Mark Kolesinsky Week 1, July 18, Ethics Reflection Paper In the last decade, ethics in corporate America has become highly publicized following the discovery of unethical and fraudulent business practices in major corporations. The conclusion is logical. Everyone involved should know what is expected of them and when. When an organization has a good reputation it draws and maintains good employees. The business plan is typically a short-term and more concrete document than the strategic plan and it tends to focus more closely on operational considerations such as sales and cash flow trends. We cannot guarantee that the information applies to the individual circumstances of your business. The fit between implementation and strategy may not be perfect from the outset and the implications of implementing the strategy may make it necessary to tweak the strategic plan. Social responsibility and ethics should be conceived as fundamental strategic concerns within organizations.

Giving different information and situation, each person beliefs and value system is different, and may change depending upon the circumstances. In many cases, the best option is for the owner to give up a share of the business in return for equity finance - but this can be emotionally difficult to do.

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role of ethics in strategic planning

Organizations that make ethical discussions as best practice for the company often remain out of the media with negative publicity. The business plan is typically a short-term and more concrete document than the strategic plan and it tends to focus more closely on operational considerations such as sales and cash flow trends.

Strategy ethics and social responsibility

Organizations often offer ethic trainings to the employees as a whole. It may be that decision-making in some areas will be handed to others, or that processes which have worked well in the past will no longer fit with future plans. Organizations that make ethical discussions as best practice for the company often remain out of the media with negative publicity. Ownership structure - growing businesses in particular should ensure that they get this right. When an organization has a good reputation it draws and maintains good employees. Take on board the opinions of other staff - key employees, accountants, department heads, board members - and those of external stakeholders, including customers, clients, advisors and consultants. Any reliance you place on our information or linked to on other websites will be at your own risk. Contact us! Vision statement - a concise summary of where you see your business in five to ten years' time. Despite our best efforts it is possible that some information may be out of date. The three key elements of strategic planning Developing a strategy for business growth requires you to deepen your understanding of the way your business works and its position relative to other businesses in your markets. What do you want to be the focus of your business and your source of competitive advantage over your rivals in the marketplace? Think about the business as a whole, for example consider diversification, existing growth, acquisition plans, as well as functional matters in key areas. Where do you see your business in five or ten years?

You should also write it down and review it periodically. Where do you see your business in five or ten years?

role of ethics in strategic management pdf

Keep your review separate from day-to-day work and be realistic, detached and critical in distinguishing between the cause and effect of how your business operates. Organizations often offer ethic trainings to the employees as a whole.

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The Role Of Ethics And Social Responsibility On Developing