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ethics

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the moral principles or values that generally govern the conduct of an individual or a group. they serve as guidlines on how to act rightly and justly when faced with moral dilemmas.

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laws

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society's values and standards that are enforceable in the courts. people rationalise that if a behavior is within reasonable ethical and legal limites, then it is not really unethical.

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current perceptions of ethical behavior

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there are at least four possible reasons the state of perceived ethical business conduct is at its present level. pressure on decision makers to make decisions in a society charictorized by diverse value systems. there is a growing tendancy for business decisions to be judged publicly by groups with different values and interests. the publics expectations of ethical business behavior has increased. ethical business conduct may have decreased.

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culture

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the enduring behaviors, ideas, attitudes, and traditions shared by a large group of people and transmitted from one generation to the next. serves as a socailizing force that dictates what is morally right and just. this means that moral standards are relitive to particular societies.

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business cultures

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comprise the effective rules of the game, the boundaries between competitive and unethical behavior, and the codes of conduct in business dealings. societal culture provides a foundation for understanding moral behaviorin business activities. business culture effects ethical conduct both in the exchange relationship between sellers and buyers and the competitive behavior amoung sellers.

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ethics of exchange

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Ethical exchanges between buyer and sellers should result in both parties being better off after the transaction.

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Caveat emptor

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"let the buyer beware", before the 1960s this view was dominant in the american business culture.

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consumer bill of rights

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codified the ethics of exchange between buyers and sellers, including rights to safety, to be informed, to choose, and to be heard. in 1962 JFK outlined.

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the right to be informed

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Marketers have an obligation to give consumers complete and accurate information about products and services.

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The right to choose

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Consumers should be assured access to a variety of goods and services at competitive prices.

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The right to be heard

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consumers should have acsess to public policy makers regarding complaints about products and services. this right is illustrated in limitations put on telemarketers practices.

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Ethics of competition

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business culture affects ethical behavior in competition. two kinds of unethical behavior is most common: 1. economic espionage 2. bribery

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Economic espionage

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the clandestine collection of trade secrets or proprietary information about a company's competitors. This practice is illegal and unethical and carries serious criminal penaties for the offending individual or business. Is most prevelent in high technology industries.

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Bribes and kickbacks

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are often disguised as gifts, consultant fees,and favors. this practise is more common in b2b and goverment marketing than in consumer marketing. in intense competition and developing countries

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Corporate culture

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set of values, ideas, and attitudes that is learned and shared among the members of an organization. the culture of the company demonstates its self in the dress, sayings, and manner of work.

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Code of ethics

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formal statement of ethical principles and rules of conduct, 86 percent of companies have one. lack of specifity is a major reason for violation of ethics codes. the second reason is the percieved behavior of top management and coworkers.

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whistle blowers

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employees who report unethical or illegal actions of their employers

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Moral Philosophy

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Principles, rules, and values people use in deciding what is right or wrong. ultimately ethical choices are based on the personal moral philosophy of the decision maker. learned through family and formal education 1) moral idealism 2) utilitarianism

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Moral Idealism

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A personal moral philosophy that considers certain individual rights or duties as universal, regardless of the outcome.

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Utilitarianism

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An ethical system stating that the greatest good for the greatest number should be the overriding concern of decision makers

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Social responsiblity

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implies that an entity whether it is a government, corporation, organization, or individual has a resposibility to society. Scope is often hard to come by, given the diversity of values present in different societal, business, and corporate cultures.

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three concepts of social responsibility

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Profit responsibility, stakeholder responsibility, societal responsibility

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profit responsiblility

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companies have a simple duty: maximize profits for thier owners or stockholders.

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stakeholder responsibility

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Corporations have a duty not just to shareholders, but also to other groups affected by corporate decisions "the stakeholders" such as employees, customers, creditors, supplies, and community in which the corporation operates.

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societal responsibility

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the obligations that organizationshave to the preservation of the ecological envvironment and to the general public

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triple bottom line

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recognition of the need for organizations to improve the state of people, the planet, and profit simultaneously if they are to achieve sustainable, long-term growth

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green marketing

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marketing efforts to produce, promote, and reclaim environmentally sensitive products

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iso 14000

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a series of international standards for managing, monitoring, and minimizing an organization's harmful effects on the environment

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cause marketing

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tying the charitable contributions of a firm directly to sales produced through the promotion of one of its products

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socail audit

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systematic assessment, involves various areas of socail responsibility. Economic - legal- ethical- discretionary

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5 steps of social audit

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1) recognition of a firms social expectations and the rational for engaging in social responsiblitiy endevors 2) identification of social repsonsiblility causes or programs consistant with the companies mission. 3) detirmination of organizational objectives and priorities for programs and activities it will undertake 4) specifications of the type and amount of resorces nessesary to achive soical responsiblity objectives. 5) eveluation of social responsiblility programs and activities undertaken and assessment of future involvment.

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Sustainable development

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development that meets the needs of the present without compromising the ability of future generations to meet their own needs

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rewards

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favorable word of mouth, typically out perform less responsible companies

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green washing

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misleading marketing about the environmental benefits of a product

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