10 helps employees avoid confusion when determining

This preview shows page 10 - 12 out of 16 pages.

10•Helpsemployeesavoidconfusionwhendeterminingwhethertheirdecisionsareethical•Facilitatesdiscussionamongemployeesaboutwhatisrightandwrongandleadstobetterdecisions•Businessesmustbecarefulnottomaketheircodeofethicstoovagueortoodetailed.ForeignCorruptPracticesAct(FCPA):alawthatprohibitsU.S.corporationsfrommakingillegalpaymentstopublicofficialsofforeigngovernmentstoobtainbusinessrightsortoenhancetheirbusinessdealingsinthosecountriesHasbeencriticizedforputtingU.S.businessesatacompetitivedisadvantageHasencouragedsomecountriestoimplementtheirownanti-briberylawsCorporatesocialresponsibility:abusiness’sconcernforsociety’swelfare-Demonstratedbymanagerswhoconsiderboththelong-rangebestinterestsofthecompanyandthecompany’srelationshiptothesocietywithinwhichitoperatesStakeholdertheory:ethicaltheorystatingthatsocialresponsibilityispayingattentiontotheinterestofeveryaffectedstakeholderineveryaspectofafirm’soperation•Stakeholdersinatypicalcorporationinclude:•Employees•Management•Customers•Thelocalcommunity•Suppliers•Owners/stockholdersPyramidofcorporatesocialresponsibility:amodelthatsuggestscorporatesocialresponsibilityiscomposedofeconomic,legal,ethical,andphilanthropicresponsibilitiesandthatafirm’seconomicperformancesupportstheentirestructureSustainability:theideathatsociallyresponsiblecompanieswilloutperformtheirpeersbyfocusingonworld’ssocial,economic,andenvironmentalproblems•Sustainablecompaniesviewtheseproblemsasopportunitiestobuildprofitsandhelptheworldatthesametime
11Greenmarketing:thedevelopmentandmarketingofproductsdesignedtominimizenegativeeffectsonthephysicalenvironmentortoimprovetheenvironment-Outgrowthofthesocialresponsibilityandsustainabilitymovementsisgreenmarketing•Philanthropyorcharitabledonationsaredifferentfromcause-relatedmarketingCause-relatedmarketing:thecooperativemarketingeffortsbetweenafor-profitfirmandanonprofitorganization•ConsumercausefatigueoccurswhenconsumersfeelacompanyisexploitingacausetosimplysellmoreofaproductCH4Powerpoint:Targetmarket:agroupofpeopleororganizationsforwhichanorganizationdesigns,implements,andmaintainsamarketingmixtomeettheneedofthatgroup,resultinginmutuallysatisfyingexchangesImportantformarketingmanagersinordertoplanforthefutureEnvironmentalscanninginvolves:UnderstandingcurrentcustomersUnderstandinghowcustomersmakedecisionsIdentifyingthemostvaluablecustomersandunderstandingtheirneedsUnderstandingthecompetitionSocialchangeisthemostdifficultexternalvariableformarketingmanagerstoforecast,influence,orintegrateintomarketingplansSocialfactorsinfluence:ProductspeoplebuyPricepaidforproductsEffectivenessofspecificpromotionsHow,where,andwhenpeopleexpecttopurchaseproductsAmerica’scorevalueshavestronglyinfluencedAmericans’attitudesandlifestylesSelf-sufficiencyUpwardmobilityWorkethicEqualityIndividualismAchievementorientation-Componentlifestyles:thepracticeofchoosing

Upload your study docs or become a

Course Hero member to access this document

Upload your study docs or become a

Course Hero member to access this document

End of preview. Want to read all 16 pages?

Upload your study docs or become a

Course Hero member to access this document

Term
Spring
Professor
FONG

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture