What do ethical responsibilities involve for strategic managers?

Ethical responsibilities for strategic managers primarily involve moral principles that define right behavior. This encompasses the expectations that managers should operate not only within the confines of the law but also adhere to standards of integrity, fairness, and respect for stakeholders. Managers must consider the impacts of their decisions on employees, customers, communities, and the environment, aligning their strategies with ethical norms and values.

In a business context, this translates to making choices that reflect a commitment to honesty, transparency, and accountability. For instance, adhering to ethical practices can enhance a company's reputation and build long-term relationships with customers and partners, which ultimately contributes to sustainable success.

Other options suggest important aspects of business strategy, such as compliance with regulations and developing marketing strategies, but they do not encompass the broader ethical obligations that influence decision-making and corporate behavior. Maximizing profitability at all costs, while it might be tempting, neglects the essential balance between profitability and ethical considerations, which can lead to negative consequences in the long term.