Str 581 Ethics Reflection Paper

1382 words 6 pages
Running head: Ethics Reflection Paper

Ethics Reflection Paper
University of Phoenix

|Content |General Comments |
|The paper explains the role of ethics and |The key elements of the assignment are covered in a substantive way. The content of your |
|social responsibility in developing a |write up is comprehensive, accurate, and persuasive. The conclusion is logical, flows from the|
|strategic plan, considering stakeholder |body of the paper, and reviews the major points. Most sentences are complete, clear, and |
|needs. |concise. Generally your write up is
…show more content…
To minimize the possibility that similar atrocities will occur, the Sarbanes-Oxley Act of 2002 was instituted to mandate Chief Executive Officers (CEO) and Chief Financial Officers (CFO) to take responsibility for reports generated and to acknowledge that the information included in the reports are true and accurate to the best of their knowledge. If the information is not true or is fraudulent, both have a responsibility to report the findings to auditors. Like ethical behavior, “social responsibility is a critical consideration for a company’s strategic decision makers…” (Pearce & Robinson, 2009, p. 23). Owners need to ensure that they hire managers who are going to carry out their wishes and be the voice in their absence instead of managers who will protect their self-interests. Decisions made by management have to be aligned with the beliefs of the owner and the company’s stakeholders to guarantee profitability and survivability. To encourage managers to make appropriate and ethical decisions, owners and executives should provide incentives through bonuses, appraisals, and recognition programs. Stakeholders will hold managers who do receive performance incentives accountable. Stakeholders include stockholders who want a good return on investment, employees seeking job satisfaction, satisfied customers and suppliers, governments seeking law-abiding companies, competitors seeking strong competition,

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