Ethics and stakeholder management in organizational contexts

Ethics

I feel that issue definition/identification is most important step in the issue management process.

All of the subsequent actions will be for naught if the issue is improperly identified. An organization must fully understand the problem before it can reasonably solve it.

A social audit is defined as a "systematic attempt to identify, measure, monitor and evaluate an organization's performance with respect to its social efforts, goals and programs." It is a tool for social control because it evaluates where an organization stands. This allows the organization to move from the present situation to a more desired situation. The audit identifies areas that need improvement and provides an impetus to make that improvement.

The steps in the strategic management process are goal formulation, strategy formulation, strategy evaluation, strategy implementation, strategic control and environmental analysis.

Enterprise-level strategy is most concerned with social, ethical and public issues. This level is characterized by issues such as where the organization fits in society and what it stands for. This level is broad, going beyond the choice of business or strategy.

5) for a firm to transition from Level 1 to Level 3 of stakeholder management capability it must engage the stakeholders in a proactive manner. Level 1 is merely understanding who the stakeholders are. Level 3 involves initiating conversation with them to understand their specific needs and attempting to address those needs.