MCS 1000 Lecture Notes - Lecture 4: Caveat Emptor, Green Marketing, Greenwashing

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 1000
• Professor: Archie Bonifacio

Document Summary

(cid:449)hile ethi(cid:272)s deals (cid:449) perso(cid:374)al a(cid:374)d (cid:373)oral pri(cid:374)(cid:272)iples a(cid:374)d (cid:448)alues, la(cid:449)s are so(cid:272)iety"s (cid:448)alues a(cid:374)d sta(cid:374)dards that are e(cid:374)for(cid:272)ea(cid:271)le in the courts. What is illegal is also unethical but what is legal can also be unethical. There is increased pressure on businesspeople to make decisions categorized by value. There is a growing tendency to for business decisions to be judged by those w different values. Culture serves as a socializing force that dictates what is morally right and just. In canada price fixing, deceiving buyers or marketing unsafe products are considered morally wrong. However, outside canada unauthorized use of copyrights, trademarks and patents are routine like in china and mexico and korea. Societal culture provides a foundation for understanding moral and ethical behaviour in business activities. The exchange process between sellers and buyers should result in both parties being better off.