Mrkt 3001 - Ch 04

Front 1

ethics

Back 1

moral principles and values that govern the actions and decisions of an individual or a group

Front 2

laws

Back 2

societies standards and values that are enforceable in the courts

Front 3

consumer bill of rights

Back 3

codified the ethics of exchange between buyers and sellers including rights to safety, to be informed, to choose and to be heard

Front 4

code of ethics

Back 4

formal statement of ethical principles and rules of conduct

Front 5

moral idealism

Back 5

moral philosophy that considers certain individual rights or duties as universal regardless of outcome

Front 6

utilitarianism

Back 6

moral philosophy that focuses on the "greatest good for the greatest number"

Front 7

social responsibility

Back 7

idea that organizations are part of a larger society and are accountable to that society for their actions

Front 8

green marketing

Back 8

marketing efforts to produce, promote and reclaim environmentally sensitive products

Front 9

cause marketing

Back 9

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

Front 10

social audit

Back 10

systematic assessment of a firms objective, strategies, and performance in the domain of social responsibility

Front 11

Right to Safety
Right to be informed
Right to choose
Right to be heard

Back 11

List 4 parts of the Consumer bill of rights

Front 12

Economic Espionage

Back 12

is the clandestine collection of trade secrests or propietary information about a company's competitors.

Front 13

Bribes and kickbacks

Back 13

are often disguised as gifts, consultant fees, and favors.

Front 14

- Pressure of decision making in diverse value systems
- Decisions judged by groups with diffrent values and interests
- Expectations of ethics has increased
- Ethical conduct may have declined

Back 14

List 4 possible reasons for the current state of ethical conduct.

Front 15

1) Societal culture and Norms
2) Business culture and Industrial practice
3) Corporate culture and expectatoins
4) Personal moral philosphy and ethical behavior

Back 15

List 4 sections of understanding ethics

Front 16

Ethics of Exchange

Back 16

- Is central to the marketing concept

- Results in both parties (Buyers and Sellers) being better off after a transaction.

Front 17

Caveat emptor

Back 17

Let the buyer beware

(before 1960 was prevelent in American business culture)

Front 18

FTC

Federal Trade Commission

Back 18

Government branch that plays an active role in educating consumers about the importance of personal information and privacy.

Front 19

Business cultures

Back 19

comprise the effective rules of the game, the boundaries between competitive and unethical behavior, and the codes of conduct in business dealings.

Front 20

Ethics of Competition

1) Economic Espionage
2) Bribery

Back 20

what is the ethical behavior in competition?

What are the two most common behaviors that are unethical.

Front 21

Societal culture

Back 21

socializing force that dictates what is morally right and just.

Front 22

high-tech

Back 22

Economic espionage is most prevalent in which type of industries?

Front 23

is morally right and just.

Back 23

Culture serves as a socializing force that dictates what

Front 24

societal culture and norms

Back 24

Which of the following is a socializing force that dictates what is morally right and just?

Front 25

the personal moral philosophy of the decision maker.

Back 25

Ultimately, ethical choices are based on

Front 26

corporate culture

Back 26

reflects the shared values, beliefs, and purpose of employees that affect individual and group behavior

Front 27

1) profit responsibility

2) Stake holder responsibility

3) Societal responsibility

Back 27

Concepts of social responsibility

Front 28

sustainable development

Back 28

involves conducting business in a way that protects the natural environment while making economic progress