MARK20100 Lecture Notes - Lecture 4: Foreign Corrupt Practices Act, Caveat Emptor, Industrial Espionage
Document Summary
Chapter 4: ethical and social responsibility in marketing. Ethics- the moral principles and values that govern the actions and decisions of an individual or group. Laws- society"s values and standards that are enforceable in the courts. Judgement plays a large role in numerous situations in defining ethical and legal boundaries. Moral standards are relative to particular societies. The exchange process is central to the marketing concept. Ethical exchanges between sellers and buyers should result in both parties being better off after the transaction. Most prevalent in technology industries where technical: bribery. Most prevalent in industries experiencing intense competition and in countries in the earlier stages of economic development. On a worldwide scale monitored by transparency. International: two significant laws: the economic espionage act and the foreign. Corporate culture is the set of values, ideas, and attitudes that is learned and shared among the members of an organization.
