Chapter 4: Ethics Flashcards Preview

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Flashcards in Chapter 4: Ethics Deck (19)
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1
Q

ethics

A
  • balance between making a profit and keeping customers

- moral principles and values that govern actions

2
Q

business ethics

A

moral/ethical dilemmas that might arise in a business setting

3
Q

marketing ethics

A

ethical problems that are specific to the domain of marketing

4
Q

ethical environment

A

having a set of values that guides decision making and behavior

5
Q

corporate social responsibility

A

entails voluntary actions taken by a company to address the ethical, social, and environmental impacts of its business operations and the concerns of its stakeholderse

6
Q

a framework for ethical decision making

A

1- identify issues
2-gather info and identify stakeholders
3-brainstorm alternatives
4-choose a coure of action

7
Q

consider 4 sets of norms for ethical decisions

A
  • societal norms
  • general business norms
  • company norms
  • personal norms/values
8
Q

societal norms

A

-basic set of values of the society
-ethical decision making metric
(publicity test/transparency test, Moral Mentor/admired observer test)

9
Q

general business norms

A

standard practice, basic values, cons has right to safety, to be informed, to choose, and to be heard

  • no longer caveat emptor aka buyer beware
  • industry standards
10
Q

American Marketing Association Code of Ethics

A
  • generally accepted code in marketing
  • flows from general norms to conduct specific values
  • subareas within marketing have their own code of ethics to deal with specific issues
11
Q

What does the AMA code of ethics say?

A

-do no harm
-foster trust and consumer confidence in the marketing system
-values of honesty, responsibility, fairness, resp
ect, openness, and citizenship

12
Q

company norms

A

values, rules, controls

13
Q

personal norms

A

family, religion, values

14
Q

moral idealism

A

if any bad occurs, then the action is unethical

15
Q

utilitarianism

A

balance good vs. bad

16
Q

to whom is the co responsible?

A
  • company is supposed to make a profit

- responsible to stockholders, investors, owners

17
Q

profit responsibility

A
  • companies are responsible only to stockholders and investors
  • cos have just one duty- maximize profit within the law
18
Q

stakeholder responsibility

A

cos are responsible to owners, customers, employees (internal), and suppliers (external)

19
Q

corporate social responsibility

A

cos are responsible to

  • owners and stakeholders
  • society in general
  • cultural diversity
  • environmental stewardship
  • cause-related marketing- supporting/sponsoring a non-profit or charitable organization or activity