Findings, Conclusions, and Consumer Attitudes Towards Ethics

CHAPTER FIVE FINDINGS, CONCLUSION AND RECOMMENDATIONS 5.1 Introduction This chapter breaks down the findings of the research, gives the conclusion and provides recommendations. Here, we are able to understand how the gathered data can be successfully converted into useful information. It begins with section 5.2, which is about the general overall findings. The next section, 5.3 to 5.5 gives a discussions of the specific findings. After this part of the chapter, the conclusion comes in part 5.6, which is then followed by the last part of the chapter, the conclusion. This chapter is all about placing the research into context. 5.2 Overall Findings From the findings; majority of the group disregarded any company with unethical behaviors and they could not transact with it. However, some loyal customers will tend to purchase again a brand that its company has shown unethical behavior. As opposed to our anticipation, majority of customers prefer quality and price, they will make purchase even if the company has shown unethical behaviors provided the price and quality is maintained, while all group disregarded any company that shows unethical behaviors on quality control even if they do not directly affect them. A 50-50 situation was seen, some customers will buy products at high prices in an organization that its environment is ethically sensitive, while other half would not pay a higher price just because a business organization was sensitive enough to treat them with respect and ensure customer satisfaction, they prefer quality and prices. 5.3 Attitudes towards companies with unethical business practices.

According to the results, at least 84 percent of the participants disregarded businesses that participated in unethical conduct. Some customers accused corporations of unethical behavior, claiming that the goods' quality and price would suffer as a result. Furthermore, they ignored goods from these firms because they assumed that unethical business practices would impact their buying decisions. Furthermore, 78% of those polled said they would not do business with businesses that engage in unethical practices. Participants related ethical behavior to high- quality, low-cost goods. As a result, they would rather not buy from an unethical business than buy low-quality goods. Some participants, however, questioned whether ethics should be a factor if the business is meeting the needs of the money markets. This indicates that certain customers are unaware of the value of a business's code of ethics. Furthermore, it demonstrates that for certain customers, the marketability of the seller is more important than the quality of their goods and services. Finally, some participants disregarded the business's ethics in favor of a price comparison with a rival. This implies that some customers will continue to do business with an immoral company if the product's quality and price met their standards. As a consequence, different people examine the ethicality of a company and its end goods in different ways, with some concentrating on price, cost, ethicality, or both of these factors. 5.4 Consumers notion on advantage price versus quality products Consumers are drawn to a product or service based on its quality and price, while others consider the company's business ethics. For the majority of customers, these characteristics are critical. For example, 54% of the participants are willing to sacrifice business ethics for price. This demonstrates that most consumers are unconcerned about business ethics as long as the product or service is reasonably priced. In contrast, 36% say the company's ethics influence their purchasing decisions. This demonstrates that for some consumers, business ethics is a critical factor in determining their purchasing power. Furthermore, 10% of consumers are unsure of what motivates them to purchase a product. This implies that some consumers lack product purchasing expertise and instead buy products out of necessity or desire. Notably, 16% of respondents discussed the importance of quality and how it needed to be considered, such as when a company has reasonable pricing and unethical tendencies but is the best in terms of quality. In such a situation, these people seemed to indicate that they would prioritize quality over unethical characteristics.

5.5 Brand loyalty effect on consumers’ decisions Some customers’ value loyalty above all else, regardless of price rises, quality problems, or the organization's code of conduct. For example, 51% of the participants claim to remain loyal to a corporation despite its unethical business practices. On the other hand, 49% claim that brand loyalty does not overshadow their commitment to business ethics. As a result, they are open to changing employers. This means that the organization is responsible for treating their entire workplace with the utmost respect, regardless of how it affects the organization's efficiency and productivity. Furthermore, nearly 98 percent of respondents are reluctant to buy from a business whose unethical practices will put them in risk. This means that a product that compromises quality control and fails to meet the bureau's set criteria for determining whether or not it is suitable for humans is unfit and should not be released to the public. Fundamentally, 2% of respondents did not claim they would use goods whose quality had not been established, but they did say the products could not be as dangerous as predicted, so they would not mind if the price was reasonable. Since the product poses an immediate threat to the buyers' lives, it's only normal that the number of people who will still buy it is so poor. 5.5 Solutions to These Attributes The most immediate solution is ensuring that the staff is educated on the importance of business ethics. The entire employees should understand that to be able to maximize returns, apart from being diligent in their performance, there should be some level of morality in how they conduct their specific roles in the production chain. Understanding the relevance of ethics will make them automatically embrace the idea to improve on their business morals.

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The top management should also be made aware that there is a potential to maximize profit when all the resources required are marshaled into ensuring that the organization improves on its business ethics (Doyle & Buckley2017). This is important because this level of the management makes decisions on funds and manpower. With their approval and support, it is possible to take the business to another level by embracing the implementation of strong business ethics to team up with the qualified skills and hard work demonstrated by the employees. The management should also ensure that whenever they are introducing an ethics program, they in cooperate the relevant stakeholders and get their indulgence. This will enable them to know the positioning of the market and whether the intended implementations are likely to resonate well with the consumers and suppliers alike (Provis,2020).. 5.6 Recommendation The survey showed that a significant number of people would not associate themselves with a product that negatively impacts the environment. This means that a lot of people actually care about the natural environment. This is why it was recommended that companies who discharge toxics into the streams and rivers, killing the aquatic life, should look for viable alternatives for disposal. This would improve the organization’s relationship with the percentage of people who did not want to transact with them for the sole reason of damaging the environment. This recommendation is also applicable to those companies who discharge poisonous gases and fumes into the atmosphere. The companies could look for a less severe means of disposal or use less harmful by-products. It should be noted that the consumers are also likely to pay higher prices for goods in an environment that has good business ethics (Pousttchi & Dehnert, 2018). Companies should strive

to first ensure that they satisfy the entire business environment, and this will help them maximize their profits. If the customer is happy, he is likely to keep purchasing your products, no matter how they are priced. The recommendation here is that a company should concentrate on quality and provide a friendly business environment. These two aspects will set the pace for profit maximization and ensure that the business retains its customers. Even though business ethics is a serious factor in creating customer relations, some consumers have emphasized on the need of good pricing. Better prices, overtime, have proved to be the main reason why organizations retain their clients (Zuschke, 2020). This is why the recommendation is that even as companies invest in business ethics, they should not lose track of normal pricing and not go beyond what the market recommends. If a company upholds good morals and has affordable products and services, they are likely to be the most competitive entity in that business environment. 5.7 Conclusion At the end of the research, the most immediate conclusion was that the number of people who are likely to be associated with a product of a brand whose business environment is ethically conducive is just as big as that of those who would make ethical considerations before purchasing. This is to mean that the Chinese market is diverse and what matters to them the most is quality as compared to ethics. This is not to say that ethical considerations are not held with high regard, it only means that companies in this consumer market are likely to keep their loyalty if the products are competitive, have value for money and are readily available. A market with this type of mindset should not come out like ne that does not appreciate the needs for incorporation of ethics, but must be seen as one that has to provide an all-rounded level of

customer satisfaction, to be able to keep their competitors n toes and with that, maximizing on production and profit generation.

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References Belás, J., Khan, K.A., Marousek, J., & Rozsa, Z. (2020). Perceptions of the importance of business ethics in SMEs: A comparative study of Czech and Slovak entrepreneurs. Ethics & Bioethics, 10, 106 - 96. Doyle, E., & Buckley, P. (2017). Embracing qualitative research: a visual model for nuanced research ethics oversight . Qualitative Research, 17, 117 - 95. Durac, L. (2019). The Importance of Business Ethics. Han, C. M., & Guo, C. (2018). How consumer ethnocentrism (CET), ethnocentric marketing and consumer individualism affect ethnocentric behavior in China. Journal of Global Marketing, 31.324-338 Hu, Y., Chen, G., Leatham, G, Kealhofer-Kemp, L., & Zawia, N. (2020). The Impact of Cultural Cringe on Consumer Behavior in China. Kim, D.J. (2019). A trust-based consumer decision-making model in electronic commerce. The role of trust, perceived risk and their antecedents. Laurențiu, R.M. (2016). The Evolution And Importance Of Business Ethics In The Companies. Annals - Economy Series, 197-200. Leonard, L., & Jones, K. (2017). Ethical awareness of sellers’ behavior in consumer-to-consumer electronic commerce: Applying the multidimensional ethics scale. Journal of internal commerce , 16, 202-218 Pousttchi, K., & Dehnert, M. (2018). Exploring the digitalization impact on consumer-decision- making in retail banking. Electronic markets, 28, 265-286 Provis, C. (2020). Business Ethics, Confucianism and the Different Faces of Ritual. Journal of Business Ethics, 165, 1-14. Tsalikis, J., Seaton, B., Shepherd, P., & Solt, M.V.(2018). The impact of the US government policies on consumer perceptions of business ethical behavior. Society and Business review, 15, 21-25

Wu, C., Zhou, X., & Song, M. (2016). Sustainable consumer behavior in China: an empirical analysis from the Midwest regions. Journal of leaner production , 134, 147-165 Yin, J., & Quazi, A. (2018). Business Ethics in the Greater China Region: Past, Present and Future Research. Journal of business ethics, 150, 815-835 Zuschke, N. (2020). An analysis of process-tracing research on consumer decision-making. Journal of business research, 111, 305-320

Appendices questionnaires The impact of business ethics on the consumer decision‐making process of Chinese consumers Question Title 1. What is your age,gender,living city and education background ？ 2. What is your annual income? bellow 30000 rmb 30000-40000rmb 40000-70000rmb 70000-100000rmb 100000-200000rmb 200000-40,0000rmb 400000-100000rmb above 1000000rmb 3. Is your home located in the city or in the rural ?

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4. What are your attitudes toward companies with unethical business practices? Question Title 5.Will you buy products from companies with unethical business practices? Question Title 6. Will you buy quality products which have advantages on price from companies with unethical business practices? Question Title 7. If you are loyal to a brand that shows unethical business practices recently, will you still be loyal to the brand? Question Title 8.If the products of a brand that shows unethical business practices on quality control (it may cause danger to them), will you buy them? Question Title 9. If the products of a brand that shows unethical business practices that is not from quality control (it will not cause danger to the buyers, but it may be unethical to their employees and suppliers, damage the environment, or commit commercial fraud ), will you buy them? Question Title 10. Will you be willing to pay high price for a brand that shows high standards of ethical business practices?

chapter 5- Final

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