IBS Center for Management Research. ,Strategic Management,Ethical issues in strategic management,Formulating the vision,mission and objectives,Implementing strategic change,Changes,organization ownership,Ethical decision making model,Principles underlying an ethical approach to strategic management,Stakeholder theory,strategy and ethics,Loyalty and psychological contract,Cultural relativism"> IBS Center for Management Research. ,Strategic Management,Ethical issues in strategic management,Formulating the vision,mission and objectives,Implementing strategic change,Changes,organization ownership,Ethical decision making model,Principles underlying an ethical approach to strategic management,Stakeholder theory,strategy and ethics,Loyalty and psychological contract,Cultural relativism">

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Chapter 6 : Ethical Issues in Strategic Management

Strategic Management - An overview

Ethical issues in strategic management

Formulating the vision
mission and objectives
Implementing strategic change
Changes in organization ownership
Ethical decision making model

Principles underlying an ethical approach to strategic management

Stakeholder theory
strategy and ethics
Loyalty and psychological contract
Cultural relativism

Chapter Summary

In this chapter, we discussed, strategic management an overview, ethical issues in strategic management, ethical decision-making model, and principles underlying an ethical approach to strategic management. Organizations while making strategic decisions face some ethical issues.

Ethical issues such as setting vision, senior manager's remuneration, implementing strategic change, changes in organization ownership and global strategic operation question the management to what extent such decisions are proper. In such a scenario mangers make use of ethical decision model, to make a right decision.

And while taking decisions an organization should know the principles that enable an ethical approach to take strategic decisions. These principles are spelt out in three theories: stakeholders'theory, strategy and ethics, loyalty and psychological contract and cultural relativism


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