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Prepared by Amit Shah Frostburg State University

10. Marketing Lamb, Hair, McDaniel. Prepared by Amit Shah Frostburg State University. Designed by Eric Brengle B-books, Ltd. Ethics and Social Responsibility. CHAPTER 3. Ethics. The moral principles or values that generally govern the conduct of an individual.

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Prepared by Amit Shah Frostburg State University

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  1. 10 MarketingLamb, Hair, McDaniel Prepared by Amit Shah Frostburg State University Designed by Eric Brengle B-books, Ltd. Ethics and Social Responsibility CHAPTER 3

  2. Ethics The moral principles or values that generally govern the conduct of an individual. Ethical Behavior LO2

  3. Morals The rules people develop as a result of cultural values and norms. Ethical Behavior in Business LO3

  4. Extent of Problems Probability of Harm Top Management Actions Time Until Consequences Potential Consequences Number Affected Social Consensus LO3 Ethical Decision Making Influential Factors

  5. A guideline to help marketing managers and other employees make better decisions. Code of Ethics Code of Ethics LO3

  6. LO3 Creating Ethical Guidelines Helps identify acceptable business practices Helps control behavior internally Avoids confusion in decision making Facilitates discussion about right and wrong

  7. Sustainability Corporate Social Responsibility LO4 The idea that socially responsible companies will outperform their peers by focusing on the world’s social problems and viewing them as opportunities to build profits and help the world at the same time.

  8. Corporate Social Responsibility LO4 Stakeholders Employees Suppliers Management Owners Customers Local Community

  9. LO5 Arguments Against Social Responsibility Businesses should focus on making a profit and leave social and environmental concerns to nonprofits Businesses don’t have the expertise to deal with social issues and doing so may interfere with the primary goals of their firms The expense of social responsibility may damage the country in the global marketplace

  10. LO5 Arguments for Social Responsibility The right thing to do Business should police itself to avoid government intervention Small companies can prosper and build shareholder value as they tackle social problems

  11. Cause-Related Marketing The cooperative efforts of a “for-profit” firm and a ‘nonprofit” organization for mutual benefit. Cause-Related Marketing LO6

  12. Cause-Related Marketing LO6 • “Five Questions to Ask Before Participating in • a Cause-Related Marketing Program” • Is this company committed? • How is the program structured? • Who does the program benefit? • How will the organization that benefits use my money? • Is the program meaningful to me?

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