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BUSI 2208 (16)
Chapter 3

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Department
Business
Course
BUSI 2208
Professor
Irfan Butt
Semester
Winter

Description
Marketing- Chapter 3 Ethical Issues Associated with Marketing Decisions :Unlike other business functions such as finance or accounting, people in marketing interact directly with the public. Marketing and sales professionals often rank poorly in ratings of the most trusted professionals. More than 2/3 of Canadians pay attention to issues related to corporate ethics and social responsibility and that 2/4 of Canadian firms are actively engaged in key CSR activities.  Creating an Ethical Climate in the Workplace: The process of creating strong ethical climate within a firm includes having a set of values that guide decision making and behaviour. o Everyone within the firm must share the same understanding of these values and how they translate into the business activities of the firm o Must develop set of explicit rules and implicit understandings that govern all transactions. o Top management must commit to establishing ethical climate. o Marketers abide by a code developed by Canadian Marketing Association (CMA)- specific values which marketers should aspire towards.  Influence of Personal Ethics: Every individual is a product of his or her own culture, upbringing, genes and various other influences. All of us vary in the way we view various situations, depending on our own level of understanding of ethical dilemmas. o In many cases people must choose between conflicting outcomes. o The roots of ethical conflict often are the competing value of individuals o Managers are often faced with the dilemma between doing what is beneficial for them and possibly the firm in the short run, and doing what is right and beneficial for the firm and society in the long-run o To avoid these ethical consequences, the long-term goals of the firm must be aligned with the short-term goals of each individual within the firm. (Ie compensation packages that don’t pose possibility for conflict)  Link between Ethics and Corporate Social Responsibility: CSR describes the voluntary actions taken by a company to address the ethical, social, and environmental impacts of it’s business operations and the concerns of it’s stakeholders. o Companies employees must also maintain high ethical standards and recognize how their individual decisions lead to collective actions of the firm Socially responsible Socially Irresponsible Ethical Both Ethical and Socially Responsible: Firms Ethical Firm not involved with the larger implement programs that are socially community: employees conduct responsible and employees act in an ethically themselves in an ethical manner but not responsible manner considered socially responsible because they have little or no impact on anyone Unethical Questionable Firm Practices , yet donates al otNeither Ethical or Responsible: to community: perceived as socially Employees do not act ethically and the responsible because it makes generous company takes no steps to be socially donations but is simultaneously involved in responsible. questionable sales practices . o Consumers and investors increasingly appear to want to purchase products and services from and invest in socially responsible companies. o Companies receive both tangible and intangible reward for acting socially responsible it is thus just good business practice to do so. A Framework for Ethical Decision Making: By using an ethical Framework, decision makers will include the relevant ethical issues, evaluate the alternatives, and choose a course of action that will help them avoid serious ethical lapses.  Step 1- Identify Issues: The first step
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