Chapter 4: Ethics And Social Responsibility In Marketing Flashcards
Laws
Society’s values and standards that are enforceable in the courts.
Ethics
The moral principles and values that govern the actions and decisions of an individual or group.
Caveat emptor
The legal concept of let the buyer beware that was persuasive and Canadian business culture before the 1960s.
Economic espionage
The client to sign collection of trade secrets are proprietary information about a company’s competitors.
Code of ethics
A formal statement of ethical principles and rules of conduct.
Whistleblowers
Employees who report unethical or illegal actions of their employees.
Moral idealism
A personal moral philosophy that considers a certain individual rights or duties as universal, regardless of income.
Utilitarianism
A personal moral philosophy that focuses on the greatest good for the greatest number by setting the costs and benefits of the consequences of ethical behavior.
Profit responsibility
Idea of the companies have a simple duty to maximize profits for their owners are shareholders.
Stakeholder responsibility
Focuses on the obligations and organization has to those who can affect achievement of its objectives, including customers, employees, suppliers, distributors.
Societal responsibility
Refers obligations the organizations have the preservation of the ecological environment, and the general public.
Triple bottom-line
Recognition of the need for organizations to improve the state of people, the planet, and profit simultaneously, if they are to achieve sustainable, long-term growth.
Green marketing
Marketing efforts to produce, promote, and reclaim environmentally sensitive products.
Cause marketing
Occurs when the charitable contributions of a firm are tied directly to the customer revenues produce to the promotion of one of its products.
Social audit
A systematic assessment of affirms objectives, strategies, and performance of the domain of social responsibility.