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Business Ethics Taught in FB2601

Business Ethics Taught in FB2601. Alex Tham Department of Marketing. Learning Triangle of Business Ethics. Skills / Ways of Thinking. Attitude. Knowledge of Business Ethics in Marketing. 5 Core Values. Honesty/Integrity ( 誠 , 正直 )

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Business Ethics Taught in FB2601

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  1. Business Ethics Taught in FB2601 Alex Tham Department of Marketing

  2. Learning Triangle of Business Ethics Skills / Ways of Thinking Attitude Knowledge of Business Ethics in Marketing

  3. 5 Core Values • Honesty/Integrity (誠, 正直) • A business professional should be honest and incorruptible. • Responsibility (忠, 忠誠, 負責) • A business professional should be accountable for her/his actions. • Fairness (公, 公正) • A business professional should strive to treat her clients and colleagues fairly. • Respect (敬) • A business professional should have respect for the individual, for diversity, for the environment and for property rights. • Compassion/Kindness(仁, 善, 慈/憐憫, 同情) • A business professional should serve society and be concerned about alleviating human suffering.

  4. Ethical Issues in Marketing

  5. Ten Steps for Corporation to Improve Standards of Business Ethics • Appoint a senior-level ethics compliance officer. • Set up an ethics code capable of detecting and preventing misconduct. • Distribute a written code of ethics to employees, subsidiaries, and associated companies and require all business partners to abide by it. • Conduct regular ethics training programs to communicate standards and procedures. • Establish systems to monitor misconduct and report grievances.

  6. Encourage an open-door policy, allowing employees to report cases on misconduct without fear of retaliation. • Establish consistent punishment guidelines to enforce standards and codes. • Prohibit employees with a track record of misconduct from holding positions with substantial discretionary authority. • Promote ethically aware and responsible managers. • Continually monitor effectiveness of all ethics-related programs.

  7. ClassDiscussion This is one of the ads Camel Cigarettes is running after dropping its “Joe Camel” ads featuring the popular cartoon camel character. Is this an ethical advertisement?

  8. Class Discussion Benetton’s ads are often controversial. Do you consider this a Socially Responsible Advertisement?

  9. The Four-Step Pyramid of Corporate Social Responsibility

  10. Socially Responsible Marketing Decisions • Focus on the long-run • Are consumer oriented • Do not infringe on society • Focus on adding value • Set objectives along broad social terms instead of narrowly defined products and services

  11. Green Marketing • Protection, promotion, and reclamation of environmentally sensitive products • Ford Motor Company Promotes Its Recycling and Environmental Efforts

  12. Group Project • Identify a critical social issue confronting in Hong Kong related to business ethics. Research all sides of the issue via newspapers, the internet, or through contacting local activist groups, if possible and reviewing their literature. How does this issue affect marketers? Provide specific examples.

  13. Enforcement • Admin Version:http://mkesrm.cityu.edu.hk/virtual-classroom/adminStudent Versionhttp://mkesrm.cityu.edu.hk/virtual-classroomLogin (Both admin and student version)ID: guestPassword: guest

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