Companies Are Impacted By Competition Through The Price Of Their Resources

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According to Chapman, L. (2010), “Companies are impacted by competition through the price of their resources and the demand of their products. Market Research provides the insight to improve daily operations and save costs.” Over the course of this program I have learned that society often believes that the words business and ethics do not belong in the same sentence. History has proven that we are making a valiant effort to change that way of thinking. For instance, if we look back at how some of the biggest cases in America that dealt with ethical business practices, we can see that America is taking a stand against unethical behavior in business. Organizations such as Enron, has single-handedly destroyed our faith in ethical business practices. This also rings true when discussing ethics as it relates to marketing research. As stated in this week’s Hall Lecture, “as Christians we have a duty to ensure that marketing intelligence gathering is legal and ethical.” Conducting ethical market research requires us to have certain characteristics such as honesty, integrity, loyalty, fairness, leadership, reputation and accountability. Because of the competitive nature of the business world, it is sometimes hard for people to maintain those ethical values. As President Theodore Roosevelt said, “To educate the mind without the morals is to educate a menace to society.” Being competitive is a great quality for a marketing researcher to have, but that competitiveness has to be
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