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Marketing Principles

Marketing Principles. Social, Ethical, and Legal Responsibilities of Marketing Management Professor Chip Besio Cox School Of Business Southern Methodist University. Ethical Issues. Management’s Social Responsibilities Organizational Stakeholders Customers Community Creditors

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Marketing Principles

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  1. Marketing Principles Social, Ethical, and Legal Responsibilities of Marketing Management Professor Chip Besio Cox School Of Business Southern Methodist University

  2. Ethical Issues Management’s Social Responsibilities Organizational Stakeholders • Customers • Community • Creditors • Government • Owners • Managers • Employees • Suppliers

  3. Ethical Issues Management’s Social Responsibilities Organizational Main Responsibilities • Economic • Legal • Ethical • Discretionary

  4. Ethical Issues Management’s Social Responsibilities Economic Responsibilities • Produce Goods and Services • Maximize Profits • Legal Responsibilities • Fulfill their Economic Goals Within a Legal Framework

  5. Ethical Issues Management’s Social Responsibilities Ethical Responsibilities • Act with Equity, Fairness & Impartiality • Respect the Rights of Individuals • Discretionary Responsibilities • Voluntary & Guided by Company’s • Desire to Make Social Contributions

  6. Ethical Issues Management’s Ethical Responsibilities “Ethics” • A set of moral principles and values that governs the behavior of a person or a group with respect to what is right and wrong.

  7. Ethical Issues Management’s Ethical Responsibilities What is Ethical Behavior? • Being honest • Maintaining confidence and trust • Following the rules • Conduct yourself in proper manner • Treat others fairly • Loyalty to company and associates • Carry your share - 100% effort

  8. Ethical Issues Management’s Ethical Responsibilities What is an Ethical Dilemma? • There is no uniform codification of ethics so differences and dilemmas about proper behavior can occur. • A situation when all of the choices for a solution to a problem have some element that could create negative ethical or personal consequences.

  9. Ethical Issues Management’s Ethical Responsibilities To Employees: • To Tell The Truth? • Performance • At Termination • The Troubled Employee • Alcohol or Drug Abuse Treatment

  10. Ethical Issues Management’s Ethical Responsibilities Company to Employees: • Employee Rights • Termination-at-will • Privacy • Ethnic, Religious or Sexual Harassment

  11. Ethical Issues Management’s Ethical Responsibilities Company to Employee: • Reason to Respect Employee Rights • High quality of work life • Attracting/Retaining good people • Avoid costly back-pay and awards • Establish balance between employee and employer rights/obligations

  12. Ethical Issues Employee’s Ethical Responsibilities Misuse of Company Assets • Automobiles • Expense Accounts • Samples • Damaged merchandise credits • Moonlighting

  13. Ethical Issues Management Practices Help Responsiveness Some Guidelines: • Top Management Takes Lead • CEO, President, Vice Presidents Must Champion • Carefully Select Leaders • Establish/Follow Code of Ethics

  14. Ethical Issues Management Practices Help Responsiveness Some Guidelines: • Establish/Follow Code of Ethics • Principle Based • Policy Based • Create Ethical Structures • Ethical Committee • Ethical Ombudsman

  15. Ethical Issues Management Practices Help Responsiveness Some Guidelines: • Encourage Whistle Blowing • “Silent Witness” Program • Create Ethical Sales Environment • Actions of Top-Level Managers

  16. Ethical Issues Management Practices Help Responsiveness Some Guidelines: • Establish Control Systems • Low Bid Review Process • Expense Report Audits

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