Answered: Questions: 1. What are some of the…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

See similar textbooks

Related questions

Concept explainers

Question

Mini-Case Need for Ethics What is business ethics? The answer to this question may be as simple as reciting the usual definition. Or it may be more complex by detailing the “good” ways the company interacts with its various stakeholders. The answer may also depend on who is asking the question. Many think that there is always a “right ways of doing” based on moral principles. Others believe the right thing to do depends on the situation and so ultimately it is up to individual. A customer may view a safe product as proof of an ethical business. An employee may see ethics in fair wages an full benefits. A stockholder may it in the corporation’s compliance with existing corporate best practices as enunciated in the SEC Rules. In fact, all of these answers are accurate because the ethics of a business is demonstrated through its practices. Attention to business ethics is critical during times of fundamental change, in times such as now. Values that were previously taken for granted are now being “brought back to life”. Many of these timeless values are no longer followed to the detriment of the person and consequently, the bigger community where this person operating in. as a result, there is no clear moral direction to guide leaders through ethical dilemmas. They must rely on themselves but are ill-quipped. Which brings us to the imperative need, having ethics in the workplace. It is indeed important because it helps ensure that when leaders are struggling then they have a strong moral compass. This attention to ethical practices comes from differing motivations. There could be social pressures to address these issues. Social awareness raises expectations of businesses that are now being held accountable to use their financial and social influences to address social problems such as poverty, crime, environmental protection, public health and the overall improvement of society. Questions: 1. What are some of the ethical challenges business leader face? Discuss how business ethics can help them. 2. What is the role of business ethics in improving corporate strategy and community development? 3. Why do you think some companies neglect the pursuance of business ethics in their organizations?

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 5 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, marketing and related others by exploring similar questions and additional content below.

Similar questions