Bus 347 > Week 11 > Flashcards

Week 11 Flashcards

(66 cards)

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1
Q

What are ethics

A

Study of morality of what’s right or wrong

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2
Q

What is business ethics

A

Studies morality based on business practices and values

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3
Q

Where do conventional moral rules apply

A

In all areas of life especially stakeholders

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4
Q

What are stakeholders

A

Parties that affect or are affected by what organizations do

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5
Q

What are stakeholders types

A

Consumers, employees, investors, shareholders, vendors, local community, larger society, government, countries

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6
Q

What are ethical principles

A

General rules guiding moral actions and decisions in ethical dilemmas

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7
Q

What are the 8 ethical principles

A
  1. Fiduciary
  2. Property
  3. Reliability
  4. Transparency
  5. Dignity
  6. Fairness
  7. Citizenship
  8. Responsiveness
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8
Q

What are the consequences for marketers acting unethically

A

Loss of profits, legal charges, fines, public relations disasters, ruined image, reduced investments, drop in stock prices, distrust, demotivation, boycotting

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9
Q

What are consumer cynicism

A

Related to suspicion, mistrust, skepticism and distrust of an agent’s or organizations motives

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10
Q

What can unethical behaviour lead to

A

Immoral leadership, miscalculation of risk, loss of touch, heavy focus on immediate returns

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11
Q

What are the rules of ethics surrounding the 4Ps

A
  1. Products must be safe and functional
  2. Prices are base don costs or marketing forces
  3. Promotions will be honest and be fair to competition
  4. Places treat consumers with respect
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12
Q

What are other ways marketers can restring value creation for consumers

A
  1. Market research
  2. Segmentation
  3. Targeting of vulnerable consumer groups
  4. Privacy violations
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13
Q

When was business ethics exist

A

1970s

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14
Q

What made business ethics so prominent

A
    1. Economic, social, environmental adoption
    2. Improved capacities of production
    3. Fiercier competition
    4. Increased consumer choice
    5. Need for differentiations
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15
Q

What is activism

A

Any activities or efforts that draw attention to an issue to achieve positive change in society

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16
Q

What are different forms of activism

A
  1. Movements
  2. Marches
  3. Protest demonstrations
  4. Ralliees
  5. Strikes
  6. Boycotts
  7. Whistle blowing
  8. Government lobbying
  9. Fundraising
  10. Canvassing
  11. Watch dogs
  12. Internet activism
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17
Q

What are consumer sovereignty

A

Freedom that people could have through consumption

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18
Q

What did the 1970s saw

A
  1. Development of a more active consumer with increasing concern for the right to safety when buying products or receiving services
  2. Consumer protection became an issue to companies and governments
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19
Q

What is quiet activism

A

Social changes are made by small or gentle actions

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20
Q

What is youth quake

A

Rising influence of young people in political, cultural and social change

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21
Q

What are slacktivism

A

People passively participating in activism by showing small tokens of support

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22
Q

What are moral licensing effect

A

When people feel good about themselves after making a moral choice and feelings can carry over to subsequent immoral choices

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23
Q

What is attitude behaviour gap

A

Consumers express one attitude about an activity or product but then behave in the opposite way

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24
Q

What are cognitive consistency theories

A

When contradictions make people uncomfortable unless they find a way to provide a justifiable explanation

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25
What does government regulation do
Reflects society's concerns and act as countervailing power to business self interest and exploitation
26
What else does the government care about
Economic growth, regulating competition, trade, intellectual property rights
27
What is self regulation
Voluntary and imposed by the industry or corporation itself and not by the government or market forces
28
What is a common criticism of self regulatory organizations
When the standards are violated, non governmental regulators have limited power to remediate and penalize the offenders
29
What are examples of governmental and industry regulators
1. Federal organizations 2. Industry self regulation 3. Specific product associations 4. Consumer advocacy
30
What can organizations do to avoid dark behaviors
Establish codes of ethics, credos and mission statements for all employees to follow
31
What are consumer ethics scale
1. Can be used to connect consumers perceptions of ethical consumer behaviors in the marketplace to their demographics 2. Looks at what different demographic groups find acceptable
32
What are consumer misbehavior
Behavioral acts that violate the accepted norms of conduct and disrupt the consumption order
33
What is included in consumer misbehavior
1. Deviant consumers 2. Jay customers 3. Dysfunctional consumers
34
What are consumer problem behaviors
Over reliance on or over use of certain products
35
What is self control
Self control is another factor that distinguishes problem behaviors from consumer misbehavior
36
How do you categorize dark consumer behaviour
1. Illegal misbehaviour 2. Problem behaviour 3. Dysfunctional behaviors
37
What is deviant acquisition behaviour
Consumer misbehavior and problem misbehavior in acquiring goods
38
What are three forms of misbehavior
1. Consumer agression 2. Consumer theft 3. Problem behaviour of compulsive shopping
39
What is consumer theft
Stealing as a way of acquiring goods
40
What are the reasons for stealing
Addiction to items, poverty, unfortunate circumstances
41
How can consumers justify theft
1. Justify by environment encouraging it and company somehow deserves it 2. Victimless 3. Stealing is not wrong
42
How do marketers discourage shoplifting
Making access to expensive goods difficult or making frequently stolen items available behind a counter, under a panel or secured with metal cables, security tags
43
What is compulsive buying
Unusual obsession with shopping that affects the person
44
What is impulsive buying
Making an unplanned purchase in the spur of the moment
45
What are the negative consequences of compulsive buying
Financial, serious psychological, personal
46
Why is contemporary consumer culture a problem
1. Emphasize materialism 2. Encourage lower self esteem
47
What is deindiviation
Disengagement from self identity and personal moral code when part of a group or crowd
48
What are other problematic behaviors
1. Skipping payments 2. Late payments 3. Breaking rental agreements 4. Aggressive behaviour towards staff or customers
49
What are different examples of excessive consumption
1. Obesity Crisis 2. Excessive alcohol consumption
50
What are wicked problems
Complex social issues that have many possible explanations, aspects and dimensions
51
How do you solve wicked problems
Involving stakeholders work together
52
What can complexity of wicked problems lead to
Victim blaming
53
What is victim blaming
When sufferers are criticized for behaving in a way that brings a problem onto themselves
54
What can focusing on individual themselves and not others lead to
Stigma and discrimination
55
What are ways to brighten the market place
1. Changing status quo 2. Corporate social responsibility
56
What is corporate social responsibility
Taking good care of the financial side of the business for the shareholders
57
What are the benefits of CSR
1. Supporting a business objective to make profits instead of distracting from it 2. Allows the company to better manage resources 3. Apply core competencies 4. Differentiate itself from competitors 5. Communicate values 6. Carve out a nice 7. Attract like minded consumers
58
What is sustainability
Ability to be maintained at a given level indefinitely
59
What is the triple bottom line accounting
Profit, peopled Planet
60
What is climate change an example of
Super wicked problem
61
What is a super wicked problem
Problems that gets worn every time and there's no single body of authority capable of solving it
62
What does sustainability mean to marketers
1. Sustainable operations 2. Practices 3. Production 4. Sourcing 5. Water disposal
63
What is emergence of the voluntary simplicity movement
Simpler way of living
64
What is voluntary simplicity
Lifestyle choice where people opt to limit material consumption and free up resources
65
How to dispose to make a smaller environmental footprint
1. Give unwanted items to friends and family 2. Giveaway unwanted items 3. Donate to charity 4. Dispose directly to general garbage 5. Dispose in a recycling bin 6. Exchange unwanted items 7. Sell unwanted items
66
What is the biggest problems of modern consumerism
Environmental impact of waste
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