Running head: ETHICS AND SOCIAL RESPONSIBILITYEthics and Social ResponsibilityName:Institution:Course Code:1ETHICS AND SOCIAL RESPONSIBILITY2Definition and Explanation of the Role of Ethics and Social Responsibility in Developing aStrategic PlanStrategic planning is the systematic process of visualizing a better future andtransforming the vision into definite goals and objectives by following specific steps. As acompany practices strategic planning, it also needs to keep in mind the needs and agendas of itsstakeholders. Ethics and social responsibility, therefore, will help companies reach their goalswhile at the same time serving the greater community.Social Responsibility and EthicsIn the business world, the term social responsibility can be tuned to corporatesocial responsibility (CSR). For organizations to achieve a sustainable competitive strategy, theyshould incorporate ethics and social responsibility (trukelj, 2017). In other words, they shouldcarter to all beings, including people, animals, and nature, as well as satisfy their stakeholdersrather than stockholders alone. Corporate social responsibility focuses on both internal behaviorsand external behaviors. The former refers to a manner in which a business or organization carriesout its daily activities, while the latter describes their engagement outside their direct interests.Corporate social responsibility does not necessarily refer to corporate philanthropy. CSR mayinclude philant ...
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