MKT291Ch.4 - Chapter 4 Ethics o The moral principles and...

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Chapter 4 Ethics o The moral principles and values that govern the actions and decisions of an individual or a group Laws o Society’s standards and values that are enforceable in the courts Caveat Emptor – let the buyer beware Consumer Bill of Rights o Codified the ethics of exchange between buyers and sellers, including rights to safety, to be informed, to choose, and to be heard Unethical Competition o Economic Espionage The clandestine collection of trade secrets or proprietary information about a company’s competitors o Bribery Giving and receiving bribes and kickbacks Code of Ethics o A formal statement of ethical principles and rules of conduct o Whistle Blowers Employees who report an employer’s unethical or illegal actions Moral Idealism o A personal moral philosophy that considers certain individual rights or duties as universal, regardless of the outcome Utilitarianism o A personal moral philosophy that focuses on the “greatest good for the greatest number” Social Responsibility
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MKT291Ch.4 - Chapter 4 Ethics o The moral principles and...

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