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ETHICAL PRACTICE AND SOCIAL RESPONSIBILITY IN STRATEGIC MANAGEMENT

This article discusses various ethical practices and social responsibility in strategic management. Strategic planning and Corporate Social Responsibility (CSR) must go hand-in-hand. Ethics involves learning what is right or wrong. When planning for CSR, organizations must approach it ethically. Ethics in strategic management is vital for decision-making. Firms must avoid social impacts, which results from unethical practices. Ethical behavior is also crucial for environmental sustainability. Therefore, organizations must realize the importance of social responsibility in strategic management. This enhances the company’s chances of success in their plans.
Read more of ethical practices and social responsibility in strategic management at

SUSTAINABILITY PRINCIPLES FOR VARIOUS STAKEHOLDERS

Most stakeholders in an organization emphasize the importance of social responsibility in strategic management. Sustainability is essential to the protection of natural resources and human existence. Therefore, all stakeholders are affected by a company’s efforts in sustainability. Organizations must also consider regulations regarding strategic planning and Corporate Social Responsibility (CSR) when making decisions. Business stakeholders also have an interest in economic development. Companies should aim at assuring the consumer of the corporation’s commitment to sustainable policies. This requires the incorporation of ethics in strategic management to achieve the objectives of CSR.

For more information on the sustainability principles for various stakeholders, visit

ETHICAL PRACTICE  AND STAKEHOLDER ENGAGEMENT IN SUSTAINABLE DEVELOPMENT

For organizations to achieve the importance of social responsibility in strategic management, they require the input of all stakeholders. Regulations require firms to examine their business practices and determine their long-term social and environmental impacts. All affected stakeholders must, therefore, engage in contributing to decisions of ethics in strategic management. Sometimes, the interests of stakeholders are conflicting. It is up to the management of the organization to serve all their interests while ensuring sustainability. They may use expert consultants in the field of strategic planning and Corporate Social Responsibility (CSR). Their opinions thus become the basis for decision-making, even if they are not direct stakeholders of the company.
Read more of stakeholders’ engagement in sustainable development at 

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