...Abstract In today`s marketplace business ethics is very important that companies set code of ethics to follow in their transactions. This becomes a high profile concern, so companies, in their decision making process, urged these moral value to be taken seriously into consideration not only because these ethical rules express to managers and employees the position to take when acting or deciding on behalf of the firm, but also the company`s image depends on the level of honesty, fairness, and integrity within the firm`s corporate culture. Therefore, it is in the company`s best interest to embrace moral and ethical norms not only to build trust and good relationship between the firm and its stakeholders, but also for social responsibilities concerns. Therefore, the firms` marketing professionals must take all the measure to act as ethically as possible because, the company`s marketing strategy express the voice most stakeholders are concerned about. Keywords: marketplace, business, ethics code of ethics, transactions, concern, decision making process, moral values, image, honesty, fairness, integrity, firm, corporate culture, trust, stakeholders, social responsibilities, marketing, professional, strategy. Introduction Being part of the US Department of Health and Human Services (HHS), the Food and Drug Administration (FDA) was established in 1930 and had mission to be guardian to consumers for their safety and well-being, when it comes to use products in the marketplace...
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...Coretta Brown Assignment 4: Legal and Ethical Considerations in Marketing, Product Safety, and Intellectual Property LEG500 August 25, 2014 Write an eight to ten (8-10) page paper in which you: http://www.insidebusiness360.com/index.php/ethical-issues-faced-by-marketers-18696/ Legal and ethical situations have been a topic in the business world since day one. Legal and ethical can sometimes be confusing in the work place if there are not rule and regulation to abide by in the organization. Legal is an act according to law, not in violation of law or anything related to the law. Ethical involving questions of right and wrong behavior relating to ethics and following accepted rules of behavior that are morally right and good. 1. Research three to five (3-5) ethical issues relating to marketing and advertising, intellectual property, and regulation of product safety and examine whether PharmaCARE violated any of the issues in question. Marketing is the total of activities involved in the transfer of goods from the producer or seller to the consumer or buyer. Advertising is the act or practice of calling public attention to one's product, service, need, etc., especially by paid announcements in newspapers and magazines, over radio or television, and on billboards. According to Mathenge,“Over the years, advertising and marketing communication messages have created a lot of debatable ethical issues, due to the public belief , that advertisements...
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...Assignment 3: Legal and Ethical Considerations in Marketing, Product Safety, and Intellectual Property Kemal Cankaya Strayer University Law, Ethics, and Corporate Governance Prof. Augustine S Weekly December 15, 2013 1. Research three to five (3-5) ethical issues relating to marketing and advertising, intellectual property, and regulation of product safety. With the globalization in world economy, business ethics became indispensable neces- sity for companies. Business to business ethics of appropriate behaviors in the long term success of businesses in a positive direction, otherwise it has been the power to adversely affect the behavior. As a result, the collapse of ethical scandals have emerged released in the United States of America and Europe. Business, which clearly indicates the necessity and importance of business ethics ethics have valuable lessons from the collapse. Ethical issues at Marketing Nowadays, marketing ethics, ethical issues comes up with sales-related studies and sensitivity in the community. This aspect of the business from a societal perspective should insist on the importance of ethical practices. As a result of marketing activities by the community due to the high impression, often come up with moral problems in the advertising, personal selling, market research and international marketing issues are seen to be available to unethical behavior. Especially in the 1970s and 1980s, various scandals...
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...global business to be successful is a challenge and possible risk. The influence of global economic interdependence and the effect of trade practices and agreements Legal realism in diverse countries led to key choices that entail marketing. These consist of the capability to make particular claims, the capability to sell products in particular ways, the variety of business practices that take place, and a variety of aspects. These aspects should be understood and well thought-out when creating marketing plans. Other aspects that influence marketing compose of social accountability and environmental factors. In various cultures these issues are vital and other cultures it is not a concern. McDonald’s should follow legal conditions in countries that influence social and environmental practices, and still meet the expectations of locals on these matters. If not McDonald’s could not gain the respect or trust locally and globally as a company. The importance of demographics and physical infrastructure When company’s like McDonald’s do business globally they must have a complete understanding and respond to all the environmental factors involved and the right marketing decisions. The environmental factors that McDonald’s face in marketing situations are cultural and...
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...from harm. Argue that current practices in marketing to children are OK and do not need further regulation. Introduction Since the new millennium era, marketing has an important role in society as the concept changed from being an efficient producer to social marketing concept. By implementing this concept which prioritises consumers’ satisfaction, both producer and consumer have benefits (Solomon et al. 2006, p. 14). As this is going on, beside the profits, producer also gets the chance to build a long term relationship with the consumer, which is one of the Integrated Marketing Communication (IMC) characteristics (Solomon et al. 2006, p. 389). This leads to the topic of this report which is stated that marketing to children are allowed and do not need a further regulation. This topic is interested to be learnt as children have important role in society’s future and marketing has a big part in their growth. Therefore, this report will explain first the regulation of marketing to children, then point out the important role of marketing for children, and lastly present the parents’ role in this practice. Marketing to Children Regulation in Australia As it is explained above about social marketing concept, it is also believed that a long term relationship can create the long term profitability by establishing good marketing that focus on consumers’ satisfaction and good ethics in the practice (Brubaker 2007, p. 58). These ‘good ethics’ lead government in every country to create...
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...in Marketing, Product Safety, and Intellectual Property Name: Hanadi Rabadi Course: LEG 500 Professor: Gus Weekley Date: 09/01/2014 Legal and Ethical Considerations in Marketing, Product Safety, and Intellectual Propertyt Inreduction Ethical dilemma may be defined as a situation where one has to make a decision but the decision to be made has some impact on either of the choices taken. In different organizations, there are times where a manager may be faced by ethical dilemmas that he or she is supposed to look into. The process may be difficult since the manager has to deal with such situations without discriminating on any individual. Any activity that relate to business management in relation to the society, consumers, and the business itself should consider all ethical issues relating to the environment. It is important for business owners to alight ethical issues to their business plans. Ethical issues may relate to advertising and marketing, regulation of product safety, and intellectual property. Marketing and advertising, relating to any industry in the market, may have different forms of ethical issues. For example, advertising may be unethical when the content in the advertisement has unethical issues such as the use of harsh language or pictures that may not be pleasant to all age groups (Ashcroft, 2007). It is important for advertising agencies to consider all ethical factors while posting any advertisement to the public. In addition, marketing may...
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...and Ethical Considerations in Marketing, Product Safety, and Intellectual Property LEG 500 August 26, 2014 Legal and Ethical Considerations in Marketing, Product Safety, and Intellectual Property Ethical dilemma may be defined as a situation where one has to make a decision but the decision to be made has some impact on either of the choices taken. In different organizations, there are times where a manager may be faced by ethical dilemmas that he or she is supposed to look into. The process may be difficult since the manager has to deal with such situations without discriminating on any individual. Any activity that relate to business management in relation to the society, consumers, and the business itself should consider all ethical issues relating to the environment. It is important for business owners to alight ethical issues to their business plans. Ethical issues may relate to advertising and marketing, regulation of product safety, and intellectual property. Marketing and advertising, relating to any industry in the market, may have different forms of ethical issues. For example, advertising may be unethical when the content in the advertisement has unethical issues such as the use of harsh language or pictures that may not be pleasant to all age groups (Ashcroft, 2007). It is important for advertising agencies to consider all ethical factors while posting any advertisement to the public. In addition, marketing may lead to unethical issues such...
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...Corporate Ethics And Values - Pranav Chheda Corporate Ethics What is a Code of Ethics? A code of ethics outlines a set of certain principles established by the corporation. These principles can be used both as the basis for requirements and limitations. Typically, a code of ethics is founded on a set of core principles or values and is not designed for expedience. These principles are illustrated with behavioral examples. Those subject to the code are expected to understand and apply the examples in situations the code does not specifically address. Organizations expect that the principles, once communicated and illustrated, will apply in every case, and that failure to apply the principles can be a cause for disciplinary action. How is a Code of Ethics Created? To create a code of ethics, an organization must define its most important guiding values, formulate behavioral standards to show the application of those values to the roles and responsibilities of the persons affected, review the existing procedures for guidance and direction as to how those values and standards are typically applied, and establish the systems and processes to ensure that the code is introduced and effective. Codes of ethics require lots of time to establish. Ideally, the development of a code will be a process in which Boards and senior management actively debate and decide core values...
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...‘Sales ethics is an oxymoron’ Ethics is a very important and influential factor in interpersonal relationships which involve persuasion and leadership. When one has to rely and relies on the integrity and objectivity of the other person, ethics become all the more important. The correctness and incorrectness of intentions and behaviours in dealing with others, when they are encompassed with morality, are called Ethics (Boldrin and Levine 2008). According to Katalin (2005), ethical conduct involves a person observing established and accepted principles of morality of his /her own profession. Ethics provides the rationale for deciding what is right or wrong in given circumstances. Ethical standards in a society form the basis on which the ethical standards of a profession are built. Sales profession of organisations is no exception to this rule. But growing competition among business organizations and industrial houses prompt them to resort to marketing and selling strategies, which many times appear unethical. It appears that organizations resort to any practice that props up their sales (Dobson, 1997). Even established organizations are falling prey to such temptations. Misleading advertisement about non-existing features in product, wrong assurances on quality and alluring and tempting promises on characteristics like durability have become commonly accepted norms of marketing strategies. Not surprisingly the consumers...
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...Ethics in International Marketing Table of Content I. Introduction…………………………………………………………………………...3 | II. Meaning of Ethics in International Marketing………………………………………...3 | III. How is Ethics and Consumer Marketing related?.........................................................4 | IV. Expectations in terms of Ethical responsibilities from the Marketing Institutions…...5 | V. Types of Ethical Approaches……………………………………………………….....6 | VI. Ethical Issues in International Marketing……………………………………………..7 | VII. Conclusion………………………………………………………………………….....9 | VIII. Bibliography…………………………………………………………………………..11 | I. Introduction Over the years, importance of ethics in the business world has increased and the world has seen a remarkable increase in the ethical norms and concerns. With the modern day consumers having the luxury to have more than one company to offer similar products, companies are trying to be extremely careful in terms of how their company is portrayed on the ethical standards. New trends and issues arise on a daily basis which may create an important burden to organizations and end consumers. Lawsuits are being filled on companies with respect to unethical behavior. As companies enter global markets, the cultural diversity becomes a very important aspect because each company has to make sure the expansion should not undermine the cultural and ethical values of that country or region of expansion. If this is taken care, than...
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...Unethical Marketing of Prescription Drugs: Misleading Direct-To-Consumer Advertising and Disease Mongering. October 3, 2011 Unethical Marketing of Prescription Drugs Introduction The purpose of this ethical paper is to investigate the marketing tactics being used by pharmaceutical companies and discuss the ethical issues involved. The primary source of information discussed in this paper was gathered from analysis of business and scholar journals, case studies, and current news articles. The main focus of my research was placed on the unethical practices of pharmaceutical companies and the current marketing regulations in the United States. The unethical practices primarily covered in this paper include disease/fear mongering, and the misuse of direct-to-consumer & physician-directed marketing to increase the profits of pharmaceutical firms. But before we get into the unethical practices taking place in today’s pharmaceutical industry, let’s take a look at the idea of ethics. So, what exactly is ethics? Merriam-Webster defines ethics as “the discipline dealing with what is good and bad and with moral duty and obligation,” and “a theory or system of moral values” (Merriam-Webster, 2011). As you can see, this is a complex but vague definition to say the least. In today’s world of international business where firms operate across cultural boundaries and face stiff competition in the fight for profits, it’s even more difficult to clearly define the meaning of...
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...The Legal and Ethical Considerations of Marketing in America Winfred Muthusi Grand Canyon University: BUS-340 11/ 06/ 2014 Introduction It is very important for organizations to be ethical in all their transactions. This fosters trust from the society as a whole and good performance from the company. To add to that companies have to be very straight forward without engaging in any illegal acts. As much as being ethical and honest is what is expected from companies, there are many that do not value this two rules especially when it comes to marketing and selling their products to consumers. Ethical Issues in Marketing Ethics are moral guidelines that govern good behavior. The US government requires every company to be morally upright in everything they do especially when it comes to transactions with customers. When it comes to marketing a product or service, most companies are more concerned about the results than the process. Following ethical values such as Honesty, Fairness, Responsibility, Transparency and Respect has become quite rare especially in this day and age where competition is so high. Furthermore, things are continuously changing and before a consumer forms an attachment to one product or service something ‘better’ comes out in the same market. Each marketing decision leads to a set of expectations from customers. For example when it comes to direct marketing, customers expect the product or service to be exactly how it’s presented on TV commercials...
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...iceberg is seen as the great number of ways, and intensities business can impact society, there are two levels. On the surface, business’s influence on our society is easily observable. Business determines what is bought and sold, who is hired, who is fired, and the commercials we watch (Welsh). Unseen and often neglected, beneath the surface there is a more deeply rooted societal impact. Businesses can potentially influence the structure of government, societal values and cultural trends. Due to this, there is great controversy about how business power and operations impact our current values and ideals. Epitomizing this concept in a more specific sense is the potentially harmful marketing and promotional practices of companies. Many large businesses utilize their influential power through marketing; emulating and glamorizing harmful lifestyles and messages to children and young adults alike. Multiple viewpoints from powerful companies and various theories such as Market Capitalism, Dominance Model, Deontology, and Consequentialism will be used to analyze the economic, social, and moral implications of this issue. McDonald’s, Altria Group, and Urban Outfitters embody the idea of corporate business power trickling into our everyday culture. While these companies operate on different business models, and sell different products, they share the commonality of promoting potentially...
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...Legal and Ethical Consideration in Marketing, Product Safety, and Intellectual Property Terra Bradley LEG500, Law, Ethics, and Corporate Governance Professor Lateefah A. Muhammad 17 March 2014 Legal and Ethical Considerations in Marketing, Product Safety, and Intellectual Property In this paper I will identify three ethical issues relating to marketing and advertising, intellectual property, and regulation of product safety. I will argue against Direct-to-Consumer (DTC) marketing by drug companies. Next I will determine who regulates compounding pharmacies under the current regulatory scheme, what the Food and Drug Administration (FDA) could or should have done, and whether the FDA should be granted more power over compounding pharmacies. I will decide whether PharmaCARE’s use of Colberian intellectual property would be ethical in accordance with Utilitarianism; Deontology; Virtue Ethics; my own moral and ethical compass. Afterwards, I will analyze the way PharmaCARE uses U.S. law to protect its own intellectual property while co-opting intellectual property in Colberia. Then I will suggest at least three ways the company could compensate the people and nation of Colberia for the use of its intellectual property and the damage to its environment. I will compare PharmaCARE’s actions with those of at least one real-world company whose creativity in skirting legal technicalities led to ethical lapses and financial loss. I will also determine the...
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...There are several keys in having a successful organization in the society today. First, by following the appropriate business ethics can make an organization successful. Next key is having a business plan. By having a business plan an organization can operate a business successful. Third key is in having a successful organization is being knowledgeable of supply and demand in an organizational performance to be able to provide to consumers in the short and long run. Last key is by sustaining a competitive advantage over competitors to make the business a success. A business plan is great value to an organization because a business plan includes every area of the organization such as the mission statement, marketing plan, operations and financial projections. By providing a mission statement consumers will have an idea of what the organization has to offer and how the organization views the customer. The mission statement is important in the business plan because this states what the organization’s purpose, goals and the customer service. The marketing plan plays a great role in the business plan. This strategy gives information about the target market, demographic area, location, product and service the organization is selling to the customers. The financial projections report provides information regarding funding the of organization ability to start a new business. The operations and human resources provides information about the staff of organization, polices and producers...
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