Ethical Issues In Business Flashcards
practice of making false or misleading claims about the environmental benefits of a product, service, or company. It involves presenting an image of environmental responsibility without taking substantial actions to back it up
Greenwashing
are workplaces, often in manufacturing sector where workers are subjected to poor working conditions, low wages and long hours
SWEATSHOPS
refers to the act of reporting illegal, unethical and fraudulent activities within an organization to authorities or the public
WHISTLEBLOWING
are individuals who expose wrongdoings in the interest of promoting transparency and accountability
Whistleblowers
refers to the practice of creating fake grassroots campaigns or online communities to promote a particular product, service or agenda. It involves artificially generating support or positive reviews to deceive consumers
ASTROTURFING
occurs when businesses take advantage of emergency situations or high demand to excessively raise prices on essential goods or services
PRICE GOUGING
refers to the unauthorized access, acquisition, or disclosure of sensitive or personal information. Ethical concerns arise when companies fail to protect customer data, leading to potential harm or misuse of personal information
DATA BREACH
refers to the ethical obligation of businesses to contribute to the well-being of the society. It involves considering the impact of business decisions on stakeholders and the wider community, and actively working towards social and environmental goals
SOCIAL RESPONSIBILITY
ensuring that marketing communications are accurate, truthful and not misleading. Ethical concerns arise when companies make false claims, exaggerate product benefits, or use deceptive tactics to manipulate consumer perceptions.
TRUTH IN ADVERTISING
-when companies engage in unethical tactics, such as spreading false information about competitors or engaging in predatory pricing strategies.
UNFAIR COMPETITION
-Ensuring transparency and authenticity in influencer marketing by clearly disclosing sponsored content and maintaining honesty about product endorsements.
-Ethical concerns arise when influencers promote products without disclosing their relationship with the brand or when they make false claims about product effectiveness.
INFLUENCER MARKETING
Ensuring fairness and transparency in pricing practices. Ethical concerns arise when companies engage in price gouging, engage in deceptive pricing tactics, or mislead consumers about pricing details or discounts.
PRICING ETHICS
Respecting ethical guidelines and norms when engaging in social media marketing. This includes avoiding the use of fake accounts, manipulating social media algorithms, or engaging in cyber bullying or harrassment
SOCIAL MEDIA ETHICS
Maintaining ethical practices in customer relationship management, such as respecting customer consent, handling customer complaints and feedback ethically, and ensuring the responsible use of customer data
CUSTOMER RELATIONSHIP MANAGEMENT
Refers to the ethical issue of businesses using social pressure or the desire to conform to influence consumer behavior. This can involve creating a sense of urgency or popularity around a product or service to persuade consumers to make purchasing decisions based on the belief that “everyone else is doing it”
BANDWAGON EFFECT