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Bus 347 > Week 11 > Flashcards

Week 11 Flashcards

1
Q

What are ethics

A

Study of morality of what’s right or wrong

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2
Q

What is business ethics

A

Studies morality based on business practices and values

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3
Q

Where do conventional moral rules apply

A

In all areas of life especially stakeholders

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4
Q

What are stakeholders

A

Parties that affect or are affected by what organizations do

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5
Q

What are stakeholders types

A

Consumers, employees, investors, shareholders, vendors, local community, larger society, government, countries

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6
Q

What are ethical principles

A

General rules guiding moral actions and decisions in ethical dilemmas

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7
Q

What are the 8 ethical principles

A
  1. Fiduciary
  2. Property
  3. Reliability
  4. Transparency
  5. Dignity
  6. Fairness
  7. Citizenship
  8. Responsiveness
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8
Q

What are the consequences for marketers acting unethically

A

Loss of profits, legal charges, fines, public relations disasters, ruined image, reduced investments, drop in stock prices, distrust, demotivation, boycotting

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9
Q

What are consumer cynicism

A

Related to suspicion, mistrust, skepticism and distrust of an agent’s or organizations motives

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10
Q

What can unethical behaviour lead to

A

Immoral leadership, miscalculation of risk, loss of touch, heavy focus on immediate returns

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11
Q

What are the rules of ethics surrounding the 4Ps

A
  1. Products must be safe and functional
  2. Prices are base don costs or marketing forces
  3. Promotions will be honest and be fair to competition
  4. Places treat consumers with respect
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12
Q

What are other ways marketers can restring value creation for consumers

A
  1. Market research
  2. Segmentation
  3. Targeting of vulnerable consumer groups
  4. Privacy violations
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13
Q

When was business ethics exist

A

1970s

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14
Q

What made business ethics so prominent

A
    1. Economic, social, environmental adoption
    2. Improved capacities of production
    3. Fiercier competition
    4. Increased consumer choice
    5. Need for differentiations
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15
Q

What is activism

A

Any activities or efforts that draw attention to an issue to achieve positive change in society

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16
Q

What are different forms of activism

A
  1. Movements
  2. Marches
  3. Protest demonstrations
  4. Ralliees
  5. Strikes
  6. Boycotts
  7. Whistle blowing
  8. Government lobbying
  9. Fundraising
  10. Canvassing
  11. Watch dogs
  12. Internet activism
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17
Q

What are consumer sovereignty

A

Freedom that people could have through consumption

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18
Q

What did the 1970s saw

A
  1. Development of a more active consumer with increasing concern for the right to safety when buying products or receiving services
  2. Consumer protection became an issue to companies and governments
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19
Q

What is quiet activism

A

Social changes are made by small or gentle actions

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20
Q

What is youth quake

A

Rising influence of young people in political, cultural and social change

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21
Q

What are slacktivism

A

People passively participating in activism by showing small tokens of support

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22
Q

What are moral licensing effect

A

When people feel good about themselves after making a moral choice and feelings can carry over to subsequent immoral choices

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23
Q

What is attitude behaviour gap

A

Consumers express one attitude about an activity or product but then behave in the opposite way

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24
Q

What are cognitive consistency theories

A

When contradictions make people uncomfortable unless they find a way to provide a justifiable explanation

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25
Q

What does government regulation do

A

Reflects society’s concerns and act as countervailing power to business self interest and exploitation

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26
Q

What else does the government care about

A

Economic growth, regulating competition, trade, intellectual property rights

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27
Q

What is self regulation

A

Voluntary and imposed by the industry or corporation itself and not by the government or market forces

28
Q

What is a common criticism of self regulatory organizations

A

When the standards are violated, non governmental regulators have limited power to remediate and penalize the offenders

29
Q

What are examples of governmental and industry regulators

A
  1. Federal organizations
  2. Industry self regulation
  3. Specific product associations
  4. Consumer advocacy
30
Q

What can organizations do to avoid dark behaviors

A

Establish codes of ethics, credos and mission statements for all employees to follow

31
Q

What are consumer ethics scale

A
  1. Can be used to connect consumers perceptions of ethical consumer behaviors in the marketplace to their demographics
  2. Looks at what different demographic groups find acceptable
32
Q

What are consumer misbehavior

A

Behavioral acts that violate the accepted norms of conduct and disrupt the consumption order

33
Q

What is included in consumer misbehavior

A
  1. Deviant consumers
  2. Jay customers
  3. Dysfunctional consumers
34
Q

What are consumer problem behaviors

A

Over reliance on or over use of certain products

35
Q

What is self control

A

Self control is another factor that distinguishes problem behaviors from consumer misbehavior

36
Q

How do you categorize dark consumer behaviour

A
  1. Illegal misbehaviour
  2. Problem behaviour
  3. Dysfunctional behaviors
37
Q

What is deviant acquisition behaviour

A

Consumer misbehavior and problem misbehavior in acquiring goods

38
Q

What are three forms of misbehavior

A
  1. Consumer agression
  2. Consumer theft
  3. Problem behaviour of compulsive shopping
39
Q

What is consumer theft

A

Stealing as a way of acquiring goods

40
Q

What are the reasons for stealing

A

Addiction to items, poverty, unfortunate circumstances

41
Q

How can consumers justify theft

A
  1. Justify by environment encouraging it and company somehow deserves it
  2. Victimless
  3. Stealing is not wrong
42
Q

How do marketers discourage shoplifting

A

Making access to expensive goods difficult or making frequently stolen items available behind a counter, under a panel or secured with metal cables, security tags

43
Q

What is compulsive buying

A

Unusual obsession with shopping that affects the person

44
Q

What is impulsive buying

A

Making an unplanned purchase in the spur of the moment

45
Q

What are the negative consequences of compulsive buying

A

Financial, serious psychological, personal

46
Q

Why is contemporary consumer culture a problem

A
  1. Emphasize materialism
  2. Encourage lower self esteem
47
Q

What is deindiviation

A

Disengagement from self identity and personal moral code when part of a group or crowd

48
Q

What are other problematic behaviors

A
  1. Skipping payments
  2. Late payments
  3. Breaking rental agreements
  4. Aggressive behaviour towards staff or customers
49
Q

What are different examples of excessive consumption

A
  1. Obesity Crisis
  2. Excessive alcohol consumption
50
Q

What are wicked problems

A

Complex social issues that have many possible explanations, aspects and dimensions

51
Q

How do you solve wicked problems

A

Involving stakeholders work together

52
Q

What can complexity of wicked problems lead to

A

Victim blaming

53
Q

What is victim blaming

A

When sufferers are criticized for behaving in a way that brings a problem onto themselves

54
Q

What can focusing on individual themselves and not others lead to

A

Stigma and discrimination

55
Q

What are ways to brighten the market place

A
  1. Changing status quo
  2. Corporate social responsibility
56
Q

What is corporate social responsibility

A

Taking good care of the financial side of the business for the shareholders

57
Q

What are the benefits of CSR

A
  1. Supporting a business objective to make profits instead of distracting from it
  2. Allows the company to better manage resources
  3. Apply core competencies
  4. Differentiate itself from competitors
  5. Communicate values
  6. Carve out a nice
  7. Attract like minded consumers
58
Q

What is sustainability

A

Ability to be maintained at a given level indefinitely

59
Q

What is the triple bottom line accounting

A

Profit, peopled Planet

60
Q

What is climate change an example of

A

Super wicked problem

61
Q

What is a super wicked problem

A

Problems that gets worn every time and there’s no single body of authority capable of solving it

62
Q

What does sustainability mean to marketers

A
  1. Sustainable operations
  2. Practices
  3. Production
  4. Sourcing
  5. Water disposal
63
Q

What is emergence of the voluntary simplicity movement

A

Simpler way of living

64
Q

What is voluntary simplicity

A

Lifestyle choice where people opt to limit material consumption and free up resources

65
Q

How to dispose to make a smaller environmental footprint

A
  1. Give unwanted items to friends and family
  2. Giveaway unwanted items
  3. Donate to charity
  4. Dispose directly to general garbage
  5. Dispose in a recycling bin
  6. Exchange unwanted items
  7. Sell unwanted items
66
Q

What is the biggest problems of modern consumerism

A

Environmental impact of waste

Bus 347 (6 decks)

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