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MKTG.03

Ethics and Social Responsibility

QuestionAnswer
ethics the moral principles or values that generally govern the conduct of an individual group
morals the rules people develop as a result of cultural values and norms</br> -considered a foundation of ethical behavior
code of ethics a guideline to help marketing manages and other employees make better decision
Foreign Corrupt Practices Act (FCPA) a law that prohibits U.S. corporations from making illegal payments to public officials of foreign governments to obtain business rights or to enhance their business dealings in those countries</br> -bribes in international business dealings
corporate social responsibility (CSR) a business's concern for society's welfare</br> -considers both the long-range best interests of the company and the company's relationship to the society within which it operates</br> -reasons: increase trust in company; networking; humanitarian reason
sustainability the idea that socially responsible companies will outperform their peers by focusing on the world's social problems and viewing them as opportunities to build profits and help the world at the same time</br> -business find ways to attack society's ills
pyramid of corporate social responsibility a model that suggests corporate social responsibility is composed of economic, legal, ethical, and philanthropic responsibilities and that the firm's economic performance supports the entire structure</br>
green marketing the development and marketing of products designed to minimize negative effects on the physical environment or to improve the environment</br> -marketers may have to educate consumer</br> -to make sale, marketers may use traditional non-green benefits
Created by: xbaby_bananax
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