The strategic plan enables a company to maintain its strategic focus of maximizing profits in the long term. However the goal of profit maximization is not attainable unless the company behaves in an ethically responsible manner. The importance of the role of business ethics in the strategic plan can be gauged by its direct link to the goal of profit maximization. Unless the company operates in an ethically responsible manner to its employees, customers and other stakeholders, it will not be able to maintain stakeholder relations effectively. Therefore the company needs to make ethics a component of its organizational culture and this is achieved by making ethics an important part of the strategic plan. The strategic plan defines ethics by defining what the company stands for and what its purposes and values are. In this manner that strategic plan creates a code of conduct which the company can rely upon in its day-to-day dealings with the stakeholders. In this manner ethics ensures that the company pays attention to the stakeholders’ needs and agendas.