MKT 337 Chapter Notes - Chapter 4: White-Collar Crime, High Tech, Sustainable Development
Document Summary
Ethics: the moral principles and values the govern the actions and decision of an individual or group. Ethics deal with personal moral principles and values. In contrast laws are society"s values and standards that are enforceable in the courts. Four ways to classify marketing decisions according to ethical and legal relationships. Stigma that business practices are often unethical and white collar crime is common. There is an increased pressure on businesspeople to make decisions in a society characterized by a diverse value system. There is a growing tendency for business decisions to be judged publicly by groups with different values and interests. The public"s expectations of ethical business behavior has increased. Ethical business conduct may have actually declined. Societal norms and culture influence business culture and industry practice which influences corporate culture and expectations and all three contribute to personal moral philosophy and ethical behavior.
