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Marketing ch. 4 test
Terms in this set (14)
Set of principles or values that govern behavior
Code of ethics
A document that outlines the principles of conduct to be used in making decisions within the organization
Refers to ownership of ideas
The obligation that individuals or businesses have to help solve social problems
A company's employees, customers, suppliers, and the company
A review of a business's social responsiveness
Why is it important for a business to have ethics?
By not acting ethically, it can hurt the business and their reputation
Give three of the five areas of ethical codes
Honesty, adherence to the law, security
Three laws that can affect how a business runs are...
The Sherman act, Clayton act, and the wheeler-lea act
Three ways how social responsibilities have changed since the 1920's are...
Profit maximization to trusteeship management to social involvement
Three intellectual laws...
Patent, copyright, and trademark
What does the CPSC stand for?
Consumer product safety commission
Three thoughts about social responsibility...
Profit maximization- business owners believed in just making a profit and that they had no requirement to get involved in social responsibility
Trusteeship management- a time when businesses recognized that taking part is social issues was a part of doing business
Social involvement- people realized that businesses should/ needed to be involved in helping solve social issues as a part of running their business
Three ways for businesses to show their social responsibilities (responsiveness)
Environmental awareness- businesses limiting the damage they do to the environment with their production process.
Philanthropy and volunteerism- businesses contributing time (employees) and or financial resources (money) to help solve social issues.
Sensitivity to diversity and quality of work life- businesses hiring a diverse workforce while providing a high quality working conditions.
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