To suggest the model for Ethical Strategic Management Process. Strategies differ from organization to organization, but ethical practices are path is right or not, what is its impact on society and environment, how it affects. of the relationship between strategy and ethics: stakeholder theory, . organizational, managerial and stakeholder values), Evan and Freeman (/ . Logsdon and Yuthas () describe orientation as either narrow (i.e., a single as ethics in the service of the strategic management process provides managerial. Record - Article (PDF Available) in Business Ethics Quarterly 20(3) · July with 2, Reads the relationship between strategy and ethics: stakeholder theory, managerial process encompassing great effort at all levels of an organization to Ethical Challenges in Strategic Management: The 19th IESE.
This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited. With approximately 80 million people born from mid tothis group is the most recent generation to enter the workforce. Workplaces are being redefined and organizations are being pressed to adapt as this new wave of workers inspire into business environments.
It is widely accepted that distinct generational experiences shape ethical ideologies and ethical ideologies in turn affect the way people function in the workplace.
Age-based differences in perspective and complaints about other generations are certainly not a new phenomenon. Businesses committed to high ethics standards know how important it is to create a shared sense of values and a cohesive culture rooted in integrity, where organizational values and personal values align.
Shaped by significant events, societal trends, and the cultures of their organizations, each generation develops its own unique perspective of what constitutes right and wrong behavior on the job.
This group of people is an important part of the workforce since they are the near future managers of the business life. In order to analyze their ethics view, qualitative approach is held. Interviews with individuals whom are to be considered as employees from Gen Y are conducted to identify ethical attitudes and behaviors. Especially, the changing ethics view on corporate business life and the effects on strategic management are focused in this research.
The research will try to explore how ethical ideology has changed conditionally with the changing generation behaviors. The interviews are held with 8 employees. The interviews are transcribed into data which are analyzed by the researches to identify the findings.
Qualitative approach is advantageous since it helps to gain detailed feedback about feelings, attitudes and behavior. Much has already been written about the changing work styles, wants and needs of this generation, and the need for radical responsive changes in the workforce, including the way managers lead this new generation of workers [ 1 ].
There is a clear need for research that focuses specifically on Generation Y Gen Y. Such understanding is essential for managing current workplace ethical conduct and for understanding the impacts on ethical climates of organizations in the near future. In this article, we examine how Gen Y ethical ideologies relate to ways they work with others, lead others, and judge ethically questionable behaviors.
With respect to leading others, we focus on the servant leadership construct because of its special emphasis on personal integrity and ethical conduct [ 23 ]. To understand the ethical ideologies of Gen Y, we first must consider their distinct cohort experiences.
Academic literature has argued that ethical judgments, decisions, and behaviors tie back to the unique experiences that shape generational cohorts [ 4 ]. Generational theory points to common experiences in political, social, and historic contexts as being major influencers of ethical values, especially during the time when an individual is coming of age.
Why are they so slow to learn? Generational differences in perspective and in work style can make the difficult task of culture-building even more challenging. When communication goes awry and cues are misread, it is easy for shared values to manifest themselves in different and even contradictory ways.
Businesses are not powerless against the forces of generational change and the challenges faced by less-experienced workers. Companies committed to integrity can and do make concerted efforts to meet the ethics challenges they face — by putting in place robust ethics and compliance programs and building strong ethics cultures. But as it turns out, ethics and compliance programs and ethics cultures influence the generations differently. While this generation does appear to hold some core ethical values, they also hold a relational view of ethics which influences how these values play out.
Literature Review The features of gen Y Generation Y are a group of people born during the '80s and the early '90s. The name is based on Generation X, which is the peer group that came before them. Generation Y people may be known as echo boomers because they are the children of baby boomers, or someone who was born during the period of increased birth rates that occurred between and Generation Y legal professionals are in their 20s and are just entering the workforce.Ethical Decision Making in Management
Here are the some main characteristics of this group of people: Armed with iPhones, laptops, cellphones and other gadgets, Generation Y is plugged-in 24 hours a day, 7 days a week. This generation prefers to communicate through e-mail and text messaging rather than face-toface contact and prefers webinars and online technology to traditional lecture-based presentations. Learning for them is more than just traditional brick and mortar college campuses.
They also have access to presentations via webinars and online classes. While older generations may view this attitude as narcissistic or lacking commitmentdiscipline and drive, Generation Y legal professionals have a different vision of workplace expectations and prioritize family over work. Nurtured and pampered by parents who did not want to make the mistakes of the previous generation, Generation Y is confident, ambitious and achievement-oriented. They have high expectations of their employers, seek out new challenges and are not afraid to question authority.
Generation Y wants meaningful work and a solid learning curve. As children, Generation Y participated in team sports, play groups and other group activities. They value teamwork and seek the input and affirmation of others. Part of a no-person-left-behind generation, Generation Y is loyal, committed and wants to be included and involved. Generation Y craves attention in the forms of feedback and guidance.
They appreciate being kept in the loop and seek frequent praise and reassurance. Generation Y may benefit greatly from mentors who can help guide and develop their young careers. As a result, they feel pressured to succeed and think others should be flexible with them when they want to negotiate scheduling conflicts.
They prefer to work in groups, and are group oriented rather than being individualistic [ 5 ]. An egalitarian leadership style democratic approach is best suited to this generation because they do not particularly conform well to hierarchies.
Gen Y also has been classified as exceedingly narcissistic. Taking into account the personal characteristics of this generation, it can be said that they show very distinct differences when it comes to business life.
Ethical Issues in Strategic Management | Bizfluent
In being more open and transparent, they become more likely to discuss work activity with a wider range of people both in public and in private. Additionally, they are the most at-risk group of the four generations, as they are more likely to observe misconduct and experience retaliation after reporting it.
However, there is some encouraging news about the youngest generation. This age group is moving into the labor force during a time of major demographic change and sixty-year-olds are working beside yearolds. Freshly minted college graduates are overseeing employees old enough to be their parents. And new job entrants are changing careers faster than college students change their majors, creating frustration for employers struggling to retain and recruit talented high-performers.
Unlike the generations that have gone before them, Gen Y has been pampered, nurtured and programmed with a slew of activities since they were toddlers, meaning they are both high-performance and highmaintenance. They also believe in their own worth. They don't know how to shut up, which is great, but that's aggravating to the year-old manager who says, 'Do it and do it now.
However, its use in business appeared after World War II within the changes taking place throughout the world which was leading to a competitive environment. The changes in firms and in technology ended up with an increment in the competition which caused an unstable environment [ 8 ]. Many scholars have studied strategy as a concept in field of business [ 9 - 12 ].
Therefore, strategic management is defined as the implementation of business strategy which has been developed [ 7 ]. Strategic management analyzes the internal and external environment of an organization to enhance the use of resources to attain its organizational goals.
It also helps organization to deal with change [ 7 ]. Throughout the strategic management literature, it is mentioned that organization is an open system which survives within an independently given environment [ 13 ].
It is crucial for managers to sustain accordance between organizational needs and environmental constraints [ 14 ]. Thus, it can be stated that strategic management forms a framework for organization. While forming the framework, the most familiar method is SWOT analyses which points out the strengths and weaknesses of an organization through internal analysis and also determines the opportunities and threats waiting by external analysis [ 15 ].
This would help managers to figure out their business strategies and long term plans. Also, it would enable them to adapt to changes taking place in their environment which may help to gain competitive advantage. Through the environmental scanning, managers are able to formulate and implement strategies. For the last step, they should evaluate and control whether these strategies enable them to attain their goals which are set in their plans [ 16 ]. After environmental scanning is completed by using SWOT analysis, the organization should formulate their strategies.
In this phase, the organization should define its mission and vision statements clearly.
Business Ethics - A Successful way of conducting business
Also, it should determine its objectives, strategy and policy guidelines. Mission describes the purpose of the organization, it reflects its present situation whereas vision defines what the organization aims to become, it reflects its expected future state [ 16 ].
Following, this they should implement strategies and policies in action to realize their objectives. By measuring the performance of the organization, the evaluation and control stage would be completed.
The aim of strategic management is to increase the performance of the organization. It helps organizations to enhance their effectiveness and efficiency. Therefore, the last step which is evaluation and control would let managers to see if the whole processes succeed or not. Ethical strategic management Ethics has become a hot topic in business world due to the scandals such as Enron, WorldCom which have occurred in recent 20 years.
Ethical issues have become crucial for businessmen and managers in order to save their organizations and to provide them with a good reputation [ 17 ]. Providing ethical behavior is one of the aims of managers.
However, there are many organizational and situational factors which affect ethical behavior in an organization [ 18 ]. Even, the managers should use ethical way of thinking while making decisions. Ethical decision making has also gained importance in business world. To prevent unethical behavior and ethical lapses, managers should be able to use ethical decision making models.
The situational and organizational factors which lead to ethical or unethical behavior are also impactful in ethical decision making [ 18 ]. As being the strategic decision makers, managers are always questioned whether their responsibilities are limited with shareholders or they have broader responsibilities. Strategic managers should consider all stakeholders while making decisions about the welfare of the organization.
For organizations to exist and improve themselves, they should take stakeholders and ethical issues into consideration [ 17 ]. It is actually a structure of moral principles and code of conduct applicable to a business. Business ethics are applicable not only to the manner the business relates to a customer but also to the society at large.
It is the worth of right and wrong things from business point of view. Business ethics not only talk about the code of conduct at workplace but also with the clients and associates. Companies which present factual information, respect everyone and thoroughly adhere to the rules and regulations are renowned for high ethical standards. Business ethics implies conducting business in a manner beneficial to the societal as well as business interests.
How are Ethical Considerations Incorporated Into Planning & Policy Making in an Organization?
Every strategic decision has a moral consequence. The main aim of business ethics is to provide people with the means for dealing with the moral complications. Ethical decisions in a business have implications such as satisfied work force, high sales, low regulation cost, more customers and high goodwill. Some of ethical issues for business are relation of employees and employers, interaction between organization and customers, interaction between organization and shareholders, work environment, environmental issues, bribes, employees rights protection, product safety etc.
Follow health, safety and environmental standards. Continuously improvise the products, operations and production facilities to optimize the resource consumption Do not replicate the packaging style so as to mislead the consumers. Indulge in truthful and reliable advertising.