Making a business plan for the growth and development of the business is not an exercise solely for profit maximization. It is a mission statement and must incorporate the moral principles that are indispensable for sustaining a healthy public image of the firm. The business development plan validates the purpose of the firms existence and also provides a moral frame of reference. Making a business plan calls for awareness of social justice in the management practice and all business activities. After a succinct expression of the goals and procedures, the business plan should go ahead and adopt the policies and measures that are socially relevant. An important criterion for the success of a venture is its public image. This is often derived from the moral stand point of the enterprise and adoption of the ethical work practices. While making a business plan always take note of the desired public image and identify the key influences on strategic business decisions. Many corporate bodies now choose to make their value statements very explicit. Their business plan is also a review of their ethical responsibilities, the concepts of leadership, and an analysis of the relationships within its various departments, with the executive management and the public. An increasing number of top performers connect the values with operations. While making a business plan they keenly balance the interests of the various stakeholder groups. In drawing the plan they strive for a responsible corporate leadership and aim to maximize profits in a transparent manner, clearly stating the corporate values, vision and strategies. Often the planning stage involves a conflict of values, especially when large private interests are at stake. An honest and fair stand by all those involved in making a business plan can help to resolve such disputes. After all, a company is as ethical as its people. |
