Midterm Ch. 3

Question 1

Behavioral Norms

Answer 1

Standards of proper or acceptable behavior.

Question 2

Ethics

Answer 2

The moral principles or values generally govern the conduct of individuals and groups.

Question 3

Deontological Theory

Answer 3

The ethical theory that states that people should stick to their obligations and duties when analyzing an ethical dilemma.

Question 4

Utilitarian ethical theory

Answer 4

The ethical theory is founded on the ability to predict the consequences of an action.

Question 5

Casuist ethical theory

Answer 5

The ethical theory looks at past ethical dilemmas to see their outcomes.

Question 6

Moral Relativism

Answer 6

a theory of time-and-place ethics; that is, the belief that ethical truths depend on the individuals and groups holding them

Question 7

Virtue

Answer 7

A character trait that is good

Question 8

Morals

Answer 8

Rules that people develop as a result of cultural values and norms.

Question 9

Code of ethics

Answer 9

A guideline aimed to help marketing managers and other employees make better decisions.

Question 10

Foreign Corrupt Practices Act (FCPA)

Answer 10

A law that prohibits U.S. corporations from making illegal payments to public officials of foreign governments to obtain business rights or to enhance their business dealings in those countries

Question 11

Corporate social responsibility (CSR)

Answer 11

A business’s concern for society’s welfare

Question 12

Stakeholder theory

Answer 12

An ethical theory stating that social responsibility is paying attention to the interest of every affected stakeholder in every aspect of a firm’s operation

Question 13

pyramid of corporate social responsibility

Answer 13

1. Philanthropic Responsibility
2. Ethical Responsibility
3. Legal Responsibility
4. Economic Responsibility

Question 14

Sustainability

Answer 14

The idea is that if you focus on the world’s social problems you will outperform your competitors.

Question 15

Green Marketing

Answer 15

Marketing Products are designed to minimize the negative effects on the physical environment.

Question 16

Cause-related marketing

Answer 16

Cooperative marketing between a for-profit and a non-profit firm.

Question 17

6 Social Control Factors

Answer 17

1. Ethics – the moral principles or values that generally govern the conduct of an individual or a group
2. Laws
3. Formal and informal groups
4. Self-regulation
5. The media
6. An active civil society

Question 18

Ethical Decision Making

Answer 18

the process of evaluating and choosing among alternatives in a manner consistent with ethical principles.

Question 19

B Corp

Answer 19

B Corps are for-profit companies certified by the nonprofit B Lab to meet rigorous standards of social and environmental performance, accountability, and transparency.