Ethics When companies take the role of being responsible for taking into consideration their consumers and develop a product that will be used or consumed in such a way that does not violate a certain code of ethics. Companies have a social responsibility to their consumers and value their wellbeing. That is especially important while incorporating that into the businesses strategic plan. The confidence of the consumer has been compromised in such cases like Enron, Bank failures and very recently Apple. This paper will explain the need and role for ethics and social responsibility in developing a strategic plan. In addition we will also take a look into a recent scandal of a company overstepping it’s own ethical boundaries, and suggest ways or preventative measures that could be taken to avoid this type of situation while still considering the stakeholders needs and agendas, Apple will be the example.
The role of ethics and social responsibility Companies that incorporate ethics and social responsibility into their strategic process before-profit rather than after-profit are decisions best decided for maximum success, this is because companies have an obligation to their stakeholders to make the best decisions behind the scenes and must not be unethical. If in the event companies make unethical decisions to cut corners it could result in compromising the company’s reputation. The importance of ethics and social responsibility is not only reliant on the company’s reputation, however it should align with the company’s mission, vision, goals