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15 Cards in this Set
- Front
- Back
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Ethics |
the moral principles and values that govern the actions and decisions of an individual or group |
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Inherent Conflict |
Conflicts often arise between the goal to succeed in the marketplace and the goal to maximize consumer well being |
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Culture |
Learned and Shared |
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Ethics of Exchange |
Both parties are better off |
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(OLD) Caveat Emptor |
the legal concept of buyer beware, pervasive before the 60s |
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(NEW) Consumer Bill of Rights |
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. (SICH) |
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Economic Espionage |
The Clandestine collection of trade secrets or proprietary information about a company's competitors |
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Code of Ethics |
Formal statement of ethical principles and rules of conduct |
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Whistle-Blowers |
Employees who report unethical or illegal actions of their employers |
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Moral Idealism |
Personal moral philosophy that considers certain individual rights or duties as universal, regardless of the outcome "NO HARM TO NO ONE" |
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Profit Resonsibility
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Maximize Profits for Owners/Stockholders |
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Shareholder Responsibility |
Focusing on profits solely is "not right" (Suppliers, Consumers, Employees) |
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Triple Bottom Line |
Recognition of the need for organizations to improve the state of people ,the planet, and profit simultaneously to achieve sustainable, long term growth |
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Green Marketing |
Consists of marketing efforts to product, promote and reclaim environmentally sensitive products |
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Cause Marketing |
Occurs when the charitable contributions of a firm are tied directly to the customer revenues produced through the promotion of one of tis products |
