I believe that the process of integrating ethics into an organization's strategic plan and design has a significant impact on providing enormous returns to its stakeholders. Ethics in business plays a fundamental role in ensuring that an organization can achieve its vision, mission, and objectives through a well-directed plan and a proper framework (Rothaermel, 2016). Integrating ethics into strategic planning allows a company to ensure that every aspect of its operations aligns with its ethos and values.
A company based on a foundation of ethics has the upper hand of building a long-lasting positive developmental impact for itself. Through business ethics, a company can develop and maintain a good reputation within the community (Rothaermel, 2016). For example, a society would love to associate with a company that cares for the environment. A company that operates ethically, right from the management level, builds a rigid bond within the stakeholders. Ethical considerations while running a business further help by increasing the profitability and stability of an organization.
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The ethical returns of a company are primarily dependent on its stakeholders. For example, when the management runs its business operations correctly, the employees are likely to follow suit. In this scenario, the employees can quickly initiate the right decisions and operational ideas using business ethics as a leading principle. Performing duties based on honesty and integrity as stakeholders increases a company's productivity and boosts the overall workforce morale.
In conclusion, a company's reputation within a particular community is vital in determining whether a company is worth investment. A company that operates ethically has the best chances of attracting both local and international investors. Investors are essential for a business since they support the operations by purchasing stocks and shares. To maintain a positive eminence in a community, a company must show its commitment towards ethically running its operations through positively impacting its employees and the environment at large.
Reference
Rothaermel, F. T. (2016). Strategic management: concepts (Vol. 2). McGraw-Hill Education.
