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

Society’s values and standards that are enforceable in the courts.

Consumer Bill of Rights

An outline presented by President John F. Kennedy in 1962 that codified the ethics of exchange between buyers and sellers, including the rights to safety, to be informed, to choose (slotting allowance), and to be heard.

The clandestine collection of trade secrets or proprietary information about a company’s competitors.

A formal statement of ethical principles and rules of conduct.

Employees who report unethical or illegal actions of their employers

A personal moral philosophy that considers certain individual rights or duties as universal, regardless of the outcome. 3M’s Scotchgard stopped production due to harmful chemicals

A personal moral philosophy that focuses on “the greatest good for the greatest number” by assessing the costs and benefits of the consequences of ethical behavior. Nestle’s Gerber Good Start infant formula kept producing, stating nothing is effective 100

Social Responsibility

The idea that organizations are part of a larger society and are accountable to that society for their actions. Profit Maximize profits for stockholders. Stakeholder: Obligation to those who can affect achievement of company objectives. Societal: O

The recognition of the need for organizations to improve the state of people, the planet, and profit simultaneously if they are to achieve sustainable, long

Sustainable Marketing

The effort to meet today’s (global) economic, environmental, and social needs without compromising the opportunity for future generations to meet theirs.

Marketing efforts to produce, promote, and reclaim environmentally sensitive products.

Occurs when the charitable contributions of a firm are tied directly to the customer revenues produced through the promotion of one of its products.

A systematic assessment of a firm’s objectives, strategies, and performance in terms of social responsibility.

Sustainable Development

Conducting business in a way that protects the natural environment while making economic progress.

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Chapter 4

Term	Definition
Ethics	The moral principles and values that govern the actions and decisions of an individual or group.
Laws	Society’s values and standards that are enforceable in the courts.
Consumer Bill of Rights	An outline presented by President John F. Kennedy in 1962 that codified the ethics of exchange between buyers and sellers, including the rights to safety, to be informed, to choose (slotting allowance), and to be heard.
Slotting allowance	shelf space
Economic Espionage	The clandestine collection of trade secrets or proprietary information about a company’s competitors.
Code of Ethics	A formal statement of ethical principles and rules of conduct.
Whistle Blowers	Employees who report unethical or illegal actions of their employers
Moral Idealism	A personal moral philosophy that considers certain individual rights or duties as universal, regardless of the outcome. 3M’s Scotchgard stopped production due to harmful chemicals
Utilitarianism	A personal moral philosophy that focuses on “the greatest good for the greatest number” by assessing the costs and benefits of the consequences of ethical behavior. Nestle’s Gerber Good Start infant formula kept producing, stating nothing is effective 100
Social Responsibility	The idea that organizations are part of a larger society and are accountable to that society for their actions. Profit Maximize profits for stockholders. Stakeholder: Obligation to those who can affect achievement of company objectives. Societal: O
Triple Bottom Line	The recognition of the need for organizations to improve the state of people, the planet, and profit simultaneously if they are to achieve sustainable, long
Sustainable Marketing	The effort to meet today’s (global) economic, environmental, and social needs without compromising the opportunity for future generations to meet theirs.
Green Marketing	Marketing efforts to produce, promote, and reclaim environmentally sensitive products.
Cause Marketing	Occurs when the charitable contributions of a firm are tied directly to the customer revenues produced through the promotion of one of its products.
Social Audit	A systematic assessment of a firm’s objectives, strategies, and performance in terms of social responsibility.
Sustainable Development	Conducting business in a way that protects the natural environment while making economic progress.

Created by: user-2023501

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