Chapter 3 Ethics and Social Responsibility LO 1 Concept of Ethical Behavior ethics moral principles or values that generally govern the conduct of an individual or group LO 2 Ethical Behavior in Business morals rules people develop as a result of cultural values and norms code of ethics a guideline to help marketing managers and other employees make better decisions Foreign Corrupt Practices Act FCPA law that prohibits US corporations from making illegal payments to public officials of foreign governments to obtain business rights or to enhance their business dealings in those countries LO 3 Corporate Social Responsibility corporate social responsibility CSR businesses concern for society s welfare sustainability socially responsible companies will outperform their peers by focusing on the world s social problems and viewing them as opportunities to build profits and help the world at the same time pyramid of corporate social responsibility model that suggests corporate social responsibility is composed of economic legal ethical and philanthropic responsibilities and that the firm s economic performance suggests the entire structure green marketing development and marketing of products designed to minimize negative effects on the physical environment or to improve the environment
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