Chapter 3 - Marketing Chapter 3 Ethical Issues Associated with Marketing Decisions Unlike other business functions such as finance or accounting people

Chapter 3 - Marketing Chapter 3 Ethical Issues Associated...

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Marketing- Chapter 3 Ethical Issues Associated with Marketing Decisions : Unlike other business functions such as finance or accounting, people in marketing interact directly with the public. Marketing and sales professionals often rank poorly in ratings of the most trusted professionals. More than 2/3 of Canadians pay attention to issues related to corporate ethics and social responsibility and that 2/4 of Canadian firms are actively engaged in key CSR activities. Creating an Ethical Climate in the Workplace: The process of creating strong ethical climate within a firm includes having a set of values that guide decision making and behaviour. o Everyone within the firm must share the same understanding of these values and how they translate into the business activities of the firm o Must develop set of explicit rules and implicit understandings that govern all transactions. o Top management must commit to establishing ethical climate. o Marketers abide by a code developed by Canadian Marketing Association (CMA)- specific values which marketers should aspire towards. Influence of Personal Ethics: Every individual is a product of his or her own culture, upbringing, genes and various other influences. All of us vary in the way we view various situations, depending on our own level of understanding of ethical dilemmas. o In many cases people must choose between conflicting outcomes. o The roots of ethical conflict often are the competing value of individuals o Managers are often faced with the dilemma between doing what is beneficial for them and possibly the firm in the short run, and doing what is right and beneficial for the firm and society in the long-run o To avoid these ethical consequences, the long-term goals of the firm must be aligned with the short-term goals of each individual within the firm. (Ie compensation

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