ch.17 Flashcards
business ethics is concerned with
distinguishing between right and wrong actions and decisions that might arise in a business setting.
Marketing ethics examines
ethical situations that are specific to the domain of marketing, including societal, global, or individual consumer issues.
What are the values, the rules and the control of creating an Ethical Climate in the Workplace?
Values: Establish Share Understand
Rules: Management commitment Employee dedication
Controls: Reward Punishment
What is the Canadian Marketing Association’s Code of Ethics
generally accepted code in marketing that flows from general norms of conduct to specific values.
However, subareas within marketing have their own code of ethics to deal with specific issues.
Why do People Act Unethically?
Decisions often have conflicting outcomes, where both options have positive and negative consequences.
Corporate social responsibility ( CSP)
Voluntary actions taken by a company to address the ethical, social, and environmental impacts of its business operations and the concerns of its stakeholders.
What is the Link between ethics and CSR
Firms should implement programs that are socially responsible
Employees should act in an ethically responsible manner
What is consumerism
A social movement aimed at protecting consumers from business practices that infringe upon their rights.
Who is impacted by CSR initiatives
The Skateholders: shareholders employees consumers marketplace society
What are the 4 steps for ethical decision making
- Identify issues
- Gather information and identify stakeholders
- Brainstorm and evaluate alternatives
- choose a course of action
Explain step 2: gather information &Identify stakeholders
Identify all relevant stakeholders and get their input on any identified ethical issues.
Explain step 3: Brainstorm & Evaluate alternatives
Halt the market research project?
Make responses anonymous?
Instituting training on the CMA Code of Ethics for all researchers
What are the 3 phases for integrating ethics into marketing strategy
Planning phase
Implementation phase
control phase
Explain the planning phase
The mission or vision statement sets the overall ethical tone for planning.
Mission statements can be used as a means to guide a firm’s SWOT analysis.
Explain the implementation phase
Companies must consider several ethical issues:
- should the firm be targeting this market with this product
- should the firm be selling its product in this market in this manner?
- Should the firm be relocating production to another country?
