International Strategic Planning
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1. How are the ethics of executives or ethical standards relevant to the process of strategy formulation? Should they be explicitly discussed in vision or valued statements? Explain your answer.
2. How does social responsibility relate to the strategy formulation process? Should all organizations include social responsibility in their mission and vision, even if it may have an adverse effect on maximizing shareholder wealth?
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Solution Summary
This solution discussed ethical standards with executives and social responsiblity with strategy formulation.
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1. How are the ethics of executives or ethical standards relevant to the process of strategy formulation? Should they be explicitly discussed in vision or valued statements? Explain your answer.
The ethics of executives or ethical standards are relevant to the process of strategy formulation in a number of ways. For example, a person needs to set high standards in their chosen field or industry in which he or she studied in their schooling. If these are not set high, then the individual is likely to face lawsuits for sexual harassment or embezzlement of funds. This can ruin a company immediately, such as losing important workers, high turnover rates, lack of respect, and the possiblity of bankruptcy occurring. Regardless, this can hurt the organization and the community that has to deal with the aftermath of poor choices made by individuals who have taken a stand on issues through selfishness and pride. Regardless, ...
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