Corporate Revaluation

To: Members of the Board of Directors
From: Consultant.
Date: January 18, 2008
Subject: Corporate Revaluation
I first want to thank you for choosing my consultant service in helping you resolve any negative events into a more promising, positive, ethical attribution, whereby; in itself, may assist in helping your company grow and prosper. Hopefully, I will provide you with the needed frame work in order for your company 'to identify, monitor, and respond to the needs, values, and expectations of your different stakeholder group'. (Business Ethics, pg 30, 2008)
In order to implement an ethical plan of resolution, it is important 'to develop a process for managing any significant concerns; therefore, the following should be implemented:
1.) Assessing your corporate culture. You must have a positive corporate culture by having a common corporate vision, goals, shared values, beliefs, and common English. A company must embrace moral, social, and behavioral stability in this new kind of corporate culture; whereby, our physical layouts organization structure, appearance, behaviors, attitudes, and goals are all restructured under positive culture. This type of culture should be shared by all stakeholders and encouraged and sustained by top management. (Business Ethics, pg 48, 2008)
2.) Identify stakeholder groups. These stakeholders should be the primary and have the most impact on the organization. It's a two way street after all. 'These should be stakeholders, who can be affected by or influenced by the development of organizational policy. ‘Stakeholder’s identity is necessary for a firm’s survival, because stakeholders provide resources that are more or less critical to a firm's success.’ (Business Ethics, pg 32, 35, 48, 2008)
3.) Identify stake holder’s issues. After identifying key players, involve them in finding out where they stand in relation to an issue. (Business Ethics, pg 48, 2008)
4.) Assessing an organizational Commitment to Social Responsibilities. You should have an input from all the essential/primary stakeholders, whereby, they impacted the importance of the four levels of social responsibilities from economic, legal, ethical, and philanthropic views'. It is important to integrate organizational ethics and social responsibility into a comprehensive applied ethics and policy framework; thereby, acting responsibly toward and supporting the extended community. (Business Ethics, pg 38-39, 2008) (Business Ethics, pg 49, 2008)
5.) Identifying resources and determination urgency. Once you have established the stakeholder’s issues, you need to prioritize and assess past performance in order to properly distribute resources. One should use two criteria in order to make the right determination….cost and urgency. The two must be weighed and projected into your final decision; therefore you’re weighting the negatives vs. positives impact it has on your company as far as social responsibility. (Business Ethics, pg 49, 2008)
6.) Gaining stakeholder feedback. To generate feedback from stakeholders is to obtain perceptions and contributions to certain issues. This can be done by surveys, newsletters, vocal groups, observation, or website used by the stakeholders in order to obtain feedback. The company can gage what the stakeholders can give them with specific issues. Stakeholders also generate media like blogs, websites, podcasts and newsletters; whereby, these need to be assessed also. A company is only as good as its stakeholders, which is why it is important to obtain what their needs are, their ideas, and their suggestions. (Business Ethics, pg 49, 2008)
In review, you need to accentuate the positives of your company and downplay the negatives while monitoring, identifying and responding to the needs, values, and expectation of your stakeholders. Addressing your corporate culture will have a large impact on the success of your company. Happy stakeholders usually bring higher returns in your company. I wish you well in your all accomplishments.


References
Ferrel, O. C., Fraedrich, J., & Ferrell, L. (2008). An Overview of Business Ethics. In Business
Ethics - Ethical Decision Making and Cases (pg. 30).
Boston, New York: Houghton Mifflin Company.
Ferrel, O. C., Fraedrich, J., & Ferrell, L. (2008) Stakeholders Define Ethical Issues in Business. In
Business Ethics - Ethical Decision Making and Cases (pg. 32).
Boston, New York: Houghton Mifflin Company.
Ferrel, O. C., Fraedrich, J., & Ferrell, L. (2008Idenifying Stakeholders. In
Business Ethics - Ethical Decision Making and Cases (pg. 32).
Boston, New York: Houghton Mifflin Company.
Ferrel, O. C., Fraedrich, J., & Ferrell, L. (2008). Stakeholder Orientation. In Business Ethics –
Ethical Decision Making and Cases (pp. 35).
Boston, New York: Houghton Mifflin Company.
Ferrel, O. C., Fraedrich, J., & Ferrell, L. (2008). Implementing a Stakeholder Prospective. In
Business Ethics - Ethical Decision Making and Cases (pp. 47).
Boston, New York: Houghton Mifflin Company.
Ferrel, O. C., Fraedrich, J., & Ferrell, L. (2008). Implementing a Stakeholder Prospective. In
Business Ethics - Ethical Decision Making and Cases (pp. 48).
Boston, New York: Houghton Mifflin Company.
Ferrel, O. C., Fraedrich, J., & Ferrell, L. (2008). Implementing a Stakeholder Prospective.
In Business Ethics - Ethical Decision Making and Cases (pp. 49).
Boston, New York: Houghton Mifflin Company.