Grewal & Levy Reading Flashcards
According to the American Marketing Association Code of Ethics, what are the six ethical values?
Honesty, Responsibility, Fairness, Respect, Transparency, Citizenship
Identify the four stages in the ethical decision-making framework.
- Include ethics and social responsibility in their corporate mission.
- Institute policies and procedures to ensure that everyone in the firm acts in an ethically responsible manner.
- Model ethical policies after a well-established code of ethics.
- Utilize a metric when making ethically sensitive decisions.
Distinguish between ethics and social responsibility.
Ethics involve the practices of a company’s employees which only affect the firm’s immediate stakeholders. Social responsibility considers the impact of the company’s actions and operating in a way that balances short-term profit needs with society’s long-term needs.
What ethical questions should a marketing manager consider at each stage of the marketing plan?
- Planning Phase: What level of commitment to the company’s ethical policies and standards is the firm willing to declare publicly?
- Implementation Phase: Should we serve the market with the firm’s products or services in an ethically responsible manner?
- Control Phase: Are the actions of all managers ethical?
Identify the inputs and outputs of the corporate social responsibility framework.
Consumer, Company, Cause/Issue
How has corporate social responsibility (CSR) evolved since the turn of the twentieth century?
CSR’s prevalence has increased rapidly. Today’s companies are undertaking a wide range of CSR initiatives.
How do corporate social responsibility (CSR) programs help various stakeholders?
Customers can trust the firm, which adds value to the company. Employees are treated with decency and respect. Stockholders can see an improvement in their investment and may choose to invest on the basis of the company’s responsible stance. Communities can benefit from company CSR outcomes.
