What is corporate social responsibility? (CSR)
voluntary actions taken by a company to address the ethical, social, and environmental impacts of its business operations and the concerns of its stakeholders
socially responsible and unethical
questionable firm practices, yet donates a lot to the communtiy
socially irresponsible, ethical
ethical firm not involved with the larger community
who is impacted by CSR initiatives?
society, shareholders, employees, consumers, marketplace
what is a social movement aimed at protecting consumers from business practices that infringe upon their rights?
employees customers marketplace society
4 steps for ethical decision making
- identify issues
- gather information and identify stakeholders
- brainstorm and evaluate alternatives
- choose a course of action
step 1: identify issues (e.g)
- using results to mislead or even harm the public
- hiding the real purpose of the study
- data collection methods
step 3: brainstorming and evaluate alternatives (depth)
- disclose the real purpose and results
- instituting training on CMA code of ethics for all researchers
- halt the market research poject
6 different tests for ethical decision making metrics
- the publicity test
- the moral mentor test
- the admired observer test
- the transparency test
- the person in the mirror test
- the golden rule test.
how to integrate ethics into marketing strategy? 3 steps?
- planning phase
- implementation phase
- control phase
integration of ethics, using the planning phase
- the mission or vision statement
- a means to guide a firm’s SWOT analysis
integration of ethics, implementation phase
- asking questions like, should the firm be targeting this market with this product
- should the firm be selling its product in this market in this manner?
- should the firm be relocating production to another country?
what phase of implementation do you check the successful implementation and react to change?
control phase
