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L22 Ethical Marketing Practices
Terms in this set (13)
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.
"the set of values, ideas, and attitudes that are learned and shared among the members of a group"
Societal culture and norms
- Dictates what is morally right
- Affects legal and ethical relationships
Business culture and industry practices
- Comprise the effective rules of the game, the boundaries between competitive and unethical behaviour
- Relationship between sellers and buyers and competitive behaviour amongst sellers
Corporate culture and expectations
set of values, ideas and attitudes that is learned and shared among the members of an organization
Personal moral philosophy
Considers certain individual rights or duties as universal, regardless of the outcome
- "do no harm"
- "a right to ..."
focuses on the greatest good for the greatest number.
If the benefits exceed the costs, it's ethical. If not, then not
- food allergens
- prescription drugs
Corporate Social Responsibility (CSR)
- Corporations part of a larger society and accountable to that society for their actions.
- impact of a company's actions on society
CSR Profit responsibility
Use resources to increase profit and engage in open competition without deception or fraud
CSR Stakeholder responsibility
Obligations affecting achievement of its objectives:
CSR Societal responsibility
Obligations to preserve the environment and to the general public
(triple bottom line)
Triple bottom line
Improve state of people, the planet and profit simultaneously to achieve sustainable, long term growth.
THIS SET IS OFTEN IN FOLDERS WITH...
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