Ethics - business rights or to enhance their business...

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1. Ethics- the moral principles or values that generally govern the conduct of an individual 2. Deontological ethical theory- a theory that states that people should adhere to their obligations and duties when analyzing an ethical dilemma 3. Utilitarian ethical theory- a theory that holds that the choice that yields the greatest benefit to the most people is the choice that is ethically correct 4. Casuist ethical theory- a theory that compares a current ethical dilemma with examples of a similar ethical dilemmas and their outcomes 5. Moral relativists- persons who believe that ethical truths depend on the individuals and groups holding them 6. Virtue- a character trait valued as being good 7. Morals- the rules people develop as a result of cultural values and norms 8. Code of ethics- a guidance to help marketing managers and other employees make better decisions 9. Foreign Corrupt Practices Act- a law that prohibits U.S. corporations from making illegal payments to public officials of foreign governments to obtain
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Unformatted text preview: business rights or to enhance their business dealings in those countries 10. Corporate social responsibility-businesss concern for societys welfare 11. Sustainability-the idea that socially responsible companies will outperform their peers by focusing on the worlds social problems and viewing them as opportunities to build profits and help the world at the same time 12. Stakeholder theory-a theory that holds that social responsibility is paying attention to the interest of every affected stakeholder in every aspect of a firms operation 13. Pyramid of corporate social responsibility- a model that suggests corporate social responsibility is composed of economic, legal, ethical, and philanthropic responsibilities and that the firms economic performance supports the entire structure 14. Cause related marketing-the cooperative marketing efforts between a for-profit firm and a nonprofit organization...
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Ethics - business rights or to enhance their business...

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