Topic 1: Ethical Issues Affecting the Marketplace Flashcards
Key Terms
Business Culture
The effective rules of the game, the boundaries between competitive and unethical behavior, and the codes of conduct in business dealings
Key Terms
Cause Marketing (Cause-Related Marketing)
The practice of linking products to a particular social cause on an ongoing or short-term basis
Key Terms
Codes of Conduct (Codes of Ethics)
Formalized rules and standards that describe what the company expects of its employees
Key Terms
Consumer Bill of Rights (1962)
A law that codified the ethics of exchange between buyers and sellers, including the rights to safety, to be informed, to choose, and to be heard
Key Terms
Corporate Culture (Organizational Culture)
A set of values, beliefs, goals, norms, and rituals that members of an organization share
Key Terms
Culture
The set of values, ideas, and attitudes that are learned and shared among members of a group
Key Terms
Economic Espionage
The clandestine collection of trade secrets or proprietary information about a company’s competitors.
Key Terms
Ethical Issue
An identifiable problem, situation, or opportunity requiring a choice among several actions that must be evaluated as right or wrong, ethical or unethical
Key Terms
Green Marketing
A strategic process involving stakeholder assessment to create meaningful long-term relationships with customers while maintaining, supporting, and enhancing the natural environment
Key Terms
Greenwashing
Making an unsubstantiated or misleading claim about the environmental benefits of a product, service, technology, or company practice
Key Terms
Marketing Ethics
Principles and standards that define acceptable marketing conduct as determined by various stakeholders
Key Terms
Profit Responsibility
Concept of Social Responsibility that holds that companies have a simple duty: to maximize profits for their owners or stockholders
Key Terms
Social Responsibility
The idea that organizations are part of a larger society and are accountable to that society for their actions
Key Terms
Societal Responsibility
Concept of Social Responsibility that refers to the obligations that organizations have to the preservation of the ecological environment and to the general public
Key Terms
Stakeholder Responsibility
Concept of Social Responsibility that focuses on the obligations an organization has to those who can affect achievement of its objectives (consumers, employees, suppliers, distributors, etc.)
