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11 Cards in this Set
- Front
- Back
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Ethics vs. law |
Ethics are morals/principles that guide our actions
Laws are society's values/standards that are enforceable in court |
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Define code of ethics. |
Formal statement of ethical principles and rules of conduct. |
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Who are whistleblowers? |
Employees who report unethical/illegal actions of their employers. |
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What are the 4 factors that influence ethical and unethical behavior? |
Societal culture & norms Corporate culture & expectations Business culture & industry practices Personal moral philosophy & ethical behavior |
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Describe 2 personal moral philosophies that influence unethical behavior. |
Moral idealism: considers certain rights universal (do no harm)
Utilitarianism: focuses on "greatest good for greatest number" and assesses costs and benefits of the consequences of ethical and unethical behavior |
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What is economic espionage? |
collection of information about a company's competitors (by trespassing, wire tapping, and searching their trash; most common in high tech industries) |
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What is the PIPEDA act? |
marketers must seek consent of individuals prior to collection/using/disclosing their personal info |
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What are the 3 components of social responsibility? |
1) Profit responsibility: maximize profits for shareholders 2) stakeholder responsibility: how you treat those who achieve the corporation's objectives (employees, customers, suppliers, distributers) 3) societal responsibility: obligation to protect environment & general public |
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What is ISO 14001? |
Worldwide standards for environmental quality & green marketing practices |
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What is cause marketing? |
When a firm's charitable contributions are tied directly to customer revenues produced through product promotion (ie. tims smile cookies) |
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What are the benefits and consequences of social responsibility? |
Benefits: positive word of mouth and outperform less responsible companies
Consequences: your actions may go unnoticed and convenience/low prices/customer service trumps social responsibility |
