key ethical considerations in strategic planning
The key ethical considerations in strategic planning include stakeholder participation, organizational values, individual values and managing change. When undertaking the process of strategy development it is very important to consider the most effective way of developing the plan. This often results in the process consisting of a strategic planning committee normally led by the CEO of the organization, which is given the mandate of developing a plan and submitting it to the Board for review and approval.
Evidence suggests that any significant change in strategy has a corresponding change in the structure of the organization in order too effective and deliver upon that strategy (George, 2019). As such, it is crucial for an organization to choose the right strategy for that particular point in time. Stakeholder involvement is one of the key strategies that is normally utilized in my organization. This allows differing perspectives and enhances support. Involving stakeholders improve the chance that the organization’s strategy is developed with the information necessary to make decisions.