Ethical Issues Affecting Each Component of the Marketing Mix

The author Robert Solomon argues that ethics has to an integral part with regard to business management. He does not believe that business management must include unethical or illegal methods to be able to succeed. Solomon preaches that business management is not as simple as obtaining revenue. “Businesses need to abide by fair policies and their owners have to be ethical in dealing with their customers” (Shaw p. 37). The author acknowledges that while illegal practices in business management could bring positive results at first, eventually the business is bound to fail. This is why Solomon recommended eight important policies that can help businesses in integrating ethics into their operations.

Every business develops a set of ethical principles that they abide by. The business ethical principles intentions: it construct the business certainty in the community , maintain the employees liveried in what the business attempt to have as structural conducts and aid the employees consume principles to make ethical choices that guards the business. In a culture with a diverse assessment structure and augmented judgment visibly by companies with changeable ethics and interests, there appears to be further difficulties on business individuals to make tougher ethical assessments. In our day-to-day performances, we depend on on our ethical principles to monitor us in the correct path and do the correct things. The substance of any efficacious and perpetual business is they segment a mutual ethical matter concentrating on presenting and generating value along with allocating their business values with the citizens they network with on a day-to-day basis.

Under this task I will explain the ethical issues that business needs to consider in its operating activities and how a business they could improve the ethical of their operations and also I will evaluate the influence of stakeholders exert in one company.

Ferrell, O.C., Fraedrich, J., & Ferrell, L. (2015). Business ethics: Ethical decision making and cases (10th ed.). Mason, OH: Cengage.

It finally has been acknowledged that simply taking an ethics class does not provide the same level of experience as providing a more integrated approach to ethics within the learning process of a student within graduate business school. Gaining the ability and competence to understand ethics is only first step to what awaits the new leaders who will be required to live an ethical life but also sustain and encourage a corporate ethical environment from which staff can also make ethical decisions. The recent financial scandals along with the younger generation’s concerns for the environment has elevated and renewed the importance of corporate leadership in providing more transparent and straightforward accounting reports as well as addressing other issues that do not encourage a culture of ethics within their organization. Wrongdoing should be addressed and ethical decisions need to be encouraged and supported instead. CEOs and board members are just beginning to present themselves and their organizations as ethical decision-makers who are responsibly provide good and wise solutions for stakeholders of the company. In the Journal of Business Ethics, “Business Ethics in North America: Trends and Challenges” the authors reviewed and

The problem to be investigated is the application of business ethics. In the business world, ethics are extremely important. Ethics are prime elements that help a business to grow and to become more productive. It is by applying proper business ethics that a business can operate in a moral or ethical business environment and managed to conduct all activities in a manner that maximizes profits while not compromising all other non-economic concerns(Schwab, 1996). Businesses have over the years failed to nurture business ethics in order to fulfill shareholders' interests and to have a culture that is oriented towards profit maximization and high performance(Jennings, 2012; Sims & Felton, 2006). This has led business to have gray areas in their activities. Gray areas are those situations or problems that do not fit exactly into any ethical analysis. These are the activities which may be represented to be immoral as a result of lying and false representations on the part of the business.

This will be an over view of ethics as it relates to business in our society. Concepts from Philosophy will seek to describe the correlation between actions that are classified as morally right or ethical in our dealings with each other as human beings. Clear and concise examples will be given as well as ways in which to improve upon business ethics.

While each business has a unique culture, environment, and business structure leading to the success of the company, there is always an ethical way of conducting business. We live in a domain where change is the only constant; new businesses are being created, businesses are expanding, growing in monetary value and stakeholder integration, and currently lead the success of a thriving economy. The businesses that stand apart from competitors

Ethical standards in business are important for every leader to know and understand. The book Ethics 101: What Every Leader Needs to Know by: John C. Maxwell discusses ethics in the world today. When people make unethical choices, the reason they do because of three main pitfalls. People do what is most convenient to them, people tend to do what they must do to win, and people rationalize their choices with relativism. In this summary, Maxwell’s definition of business ethics will be framed, examples of ethical standards and guidelines, the meaning and contrast of ethical thinking and ethical behavior, and how to avoid these major pitfalls to live an ethical life. The

Price objections are one of the biggest obstacles salespeople have to conquer. There are two important points to keep in mind concerning price resistance. First, it is one of the most common buyer concerns in the field of selling. A salesperson must learn to negotiate skillfully in this area. Secondly, price objections may be nothing than an excuse. Price can be a barrier while selling to a transactional buyer. Buyer 's generally raise a price-based objection under three

Today’s business world presents numerous ethical issues. In today’s world above board/moral ethics in organizations do not often materialize intuitively. Organization must strive to provide employees with a clear understanding of the overall company vision. This will aid employees in practicing the code of ethics, policies and procedures in the workplace. Companies must be unwavering in continuously delivering the uppermost ethics of provision in which customers, applicants and employees are entitled to under fair business practices. One major core value is to uphold responsible and fair business practices.

Ø Give some specific examples of ethical issues that confront businesses and how these might be addressed.

Every organization also has a profession responsibility to conduct business honestly and ethically. Our readings reported, “Experts estimated that U.S. companies lose about $600 billion a year from unethical and criminal behavior” Kinicki and Kreitner (2009). The organization could avoid having ethical issues by meeting the

First, product or services offered or promote to the customers should be based on the product or services’ truth or real information. Misleading word or over-praised of the product or services provided which violates the rules under Trade Practices Act are not allowed. The products or services should be presented morally, correctly, and fairly without confusing or ambiguous. Second, the price of the product or services provided should not be over-price or underpriced or unreasonable price. We should not take advantage of customers who have less knowledge or do not have a clear understanding about the market price during the promotion or advertising of the product or services. We should not lower the services or

Market research: ethical danger points in marketing research include: - Invasion of privacy – Stereotyping Market audience: ethical danger points include - targeting the vulnerable children, the elderly - Excluding potential customers from the market: selective marketing is used to discourage demand from undesirable market sectors or disenfranchise them altogether. Pricing ethics: list of unethical pricing practice: - Price fixing - Price skimming - Price discrimination - Price wars - Bid rigging - Dumping