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Business Ethics Taught in FB2601 Alex Tham Department of Marketing.

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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 Knowledge of Business Ethics in Marketing Attitude

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 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 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? Class Discussion

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

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: Student Version Login (Both admin and student version) ID: guest Password: guest

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