Business Ethics Taught in Business Ethics Taught in FB2601FB2601

Alex ThamAlex Tham

Department of MarketingDepartment of Marketing

Learning Triangle of Business EthicsLearning Triangle of Business Ethics

Skills / Ways of ThinkingSkills / Ways of Thinking

Knowledge of Business Ethics in Marketing

Attitude

5 Core Values5 Core ValuesHonesty/Integrity Honesty/Integrity ((誠誠 , , 正直正直 ))– A business professional should be honest and incorruptible.A business professional should be honest and incorruptible.

Responsibility Responsibility ((忠忠 , , 忠誠忠誠 , , 負責負責 ))– A business professional should be accountable for her/his aA business professional should be accountable for her/his a

ctions.ctions.

Fairness Fairness ((公公 , , 公正公正 ))– A business professional should strive to treat her clients anA business professional should strive to treat her clients an

d colleagues fairly.d colleagues fairly.

Respect Respect ((敬敬 ))– A business professional should have respect for the individA business professional should have respect for the individ

ual, for diversity, for the environment and for property rights.ual, for diversity, for the environment and for property rights.

Compassion/KindnessCompassion/Kindness ((仁仁 , , 善善 , , 慈慈 //憐憫憐憫 , , 同情同情 ))– A business professional should serve society and be conceA business professional should serve society and be conce

rned about alleviating human suffering.rned about alleviating human suffering.

Ethical Issues in MarketingEthical Issues in Marketing

Ten Steps for Corporation to Improve Ten Steps for Corporation to Improve Standards of Business EthicsStandards of Business EthicsAppoint a senior-level ethics compliance officer.Appoint a senior-level ethics compliance officer.

Set up an ethics code capable of detecting and Set up an ethics code capable of detecting and preventing misconduct.preventing misconduct.

Distribute a written code of ethics to employees, Distribute a written code of ethics to employees, subsidiaries, and associated companies and require subsidiaries, and associated companies and require all business partners to abide by it.all business partners to abide by it.

Conduct regular ethics training programs to Conduct regular ethics training programs to communicate standards and procedures.communicate standards and procedures.

Establish systems to monitor misconduct and report Establish systems to monitor misconduct and report grievances.grievances.

Encourage an open-door policy, allowing employees to Encourage an open-door policy, allowing employees to report cases on misconduct without fear of retaliation.report cases on misconduct without fear of retaliation.

Establish consistent punishment guidelines to enforce Establish consistent punishment guidelines to enforce standards and codes.standards and codes.

Prohibit employees with a track record of misconduct from Prohibit employees with a track record of misconduct from holding positions with substantial discretionary authority.holding positions with substantial discretionary authority.

Promote ethically aware and responsible managers.Promote ethically aware and responsible managers.

Continually monitor effectiveness of all ethics-related Continually monitor effectiveness of all ethics-related programs.programs.

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?

ClassDiscussion

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

Class Discussion

The Four-Step The Four-Step Pyramid of Pyramid of Corporate Social Corporate Social ResponsibilityResponsibility

Socially Responsible Marketing Socially Responsible Marketing DecisionsDecisions– Focus on the long-runFocus on the long-run– Are consumer orientedAre consumer oriented– Do not infringe on societyDo not infringe on society– Focus on adding value Focus on adding value – Set objectives along broad social terms Set objectives along broad social terms

instead of narrowly defined instead of narrowly defined products and servicesproducts and services

Green Green MarketingMarketing– Protection, Protection,

promotion, and promotion, and reclamation of reclamation of environmentally environmentally sensitive sensitive productsproducts

Ford Motor Ford Motor CompanyCompany Promotes Its Promotes Its Recycling and Recycling and Environmental Environmental EffortsEfforts

Group ProjectGroup Project

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

EnforcementEnforcement

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