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Case studies in business ethics and corporate governance
Significant contribution to ethics in corporate governance
Corporate governance and ethics case studies
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As Shani and Sandler have put across, ‘Ambush Marketing’ is viewed, as both ‘illegal’ and ‘immoral’. The earlier part of the paper discussed the legal issues, in this part of the paper the focus on the existing ethical controversies. The law regulates and the enacting of legislation solves the legal controversies. Thus the focus of this part of the paper is on the remedy for ethical controversy.
The first question that arises is ‘whether ambush marketing as a business practise ethical?’ The view over this issue is divided, a few feel that there is nothing unethical about ‘Ambush Marketing’ as it is not illegal, it is a marketing strategy, wherein ambushing is the weapon. However, there is a view that, the ethics of marketing are not followed and thus unethical. Even before taking a call over it, the need is to know, what constitutes ethical marketing practise?
‘Moral principles and values that govern the actions and decisions of an individual or group. A particular action may be within the law and still not be ethical’ . There may be comprehensive codes of ethics, company cultures, and behaviours which actually influence the manner in which a company behaves. The most important ethics in the world of advertising is not to deceive the customer of the content and the essence of the product. The two theories of Dickson , principle of utility and theory of situational ethics provide the reasoning behind ethics. In the former principle, the utilitarianism is emphasized wherein the good of all is to be looked into. In the latter principle, he emphasizes the questioning of the self, that if everyone did the same act, would it be right? And does the existing social fabric provide for it? And what are the effects on the one on the...
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... those rights. Due to the dearth in law, the claim that ‘Ambush Marketing’ is not illegal can be easily utilized at the expense of an official sponsor. Though, it may seem to not be a problem, as the official sponsors would also not sponsor but utilize the event to the fullest advantage. The consequence of it, is nothing but organizers loosing funds and failure or non-occurrence of an event, as sponsorship forms one of the important funding for an event. Which is nothing but, getting to square one, where it has to be started all over again. Practically, in the era of globalization, this might seem impossible but broadcasters monopoly is another possibility. Thus, recognition through law is the need of the hour to ensure limited exploitation of sporting events, the telecast of which has become a major revenue contributor to several wings of entertainment industry .
Lahdesmaki (2005) argued that marketing can be an ethical contract between businesses and their customers. Therefore businesses are morally obliged to inform their customers about the products in store and provide all the information necessary via marketing strategy so the customer can make informed decisions about their purchase.
Of the many possible ethical dilemmas that people could face in the business world, the article: “The ‘Do Whatever It Takes’ Attitude Gone Wrong” portrays particular ethical situations in todays business world that are very common: poor social responsibility and its negative effects. Social responsibility is considering what affects business decisions and products have on society. The article reveals what goes on behind the scenes at a business in terms of poor ethical decision making and how often it occurs. It mainly focuses on how business decisions are made without consideration
This issues study is aimed to explain the importance of ethical business practices which also include social responsibilities and will be compared to an example of an unethical business practice. It will explore the different unethical issues in business, the benefits of running an ethical business and this will be done with reference to a certain case study.
Ethics in business is a highly important concept, as it can affect a company’s profits, salaries paid to employees and CEOs, and public opinion, among many other aspects of a business. Ethics can be enforced by company policies and guidelines, set a precedent when a company is faced with an important decision, and are also evolving thanks to new technology and situations that arise due to technology usage. Businesses have a duty to maintain their ethical responsibilities and also to help their employees enforce these responsibilities in and out of the workplace. However, ethics and the foundation for them are not always black and white. There are many different ethical theories, however Utilitarianism, Kant’s Deontological ethics, and Virtue ethics are three of the most well known theories in existence. Each theory is distinct in that it has a different quality used to determine ethicality and allows for a person to choose which system of ethics works best with both the situation and his or her personal ethical preferences.
Economic activity always has an ethical aspect. No matter what type of business is taking place there is always an aspect of ethics. A business transaction occurs when people exchange a product or service for money. If the exchange is fair then both parties benefit and therefore both parties’ interests are served. Therefore this interaction between parti...
Ethical issues in business arise because of conflicts between an individuals personal moral philosophies and values and values or attitudes of organization in which a person works and a society in which one lives. Ethical issues can be identified in terms of the major participants and functions of business. Ethical issues related to ownership include conflicts between manager’s duties to the owners and their own interests, also separation of ownership and control of business. Financial issue includes, for example, the accuracy of reported financial documents. Ethical issues can acquire between manages and employees, then employees are asked to carry out assignments they consider unethical. Consumers and marketing issues are related to providing safe desired products for a fear price and not harming people and an environment. Accountants also face ethical dilemma, they have to deal with competition advertising commission. All of this places the accounting profession in situation of ethical risk.
Business ethics are the core fundamentals of a business and are extremely important for organizations smooth and successful operation. It can have either positive impact by operating ethically or negative impact if they are caught up in any unethical situation or dilemma. Ethics has been defined as “study and philosophy of human conduct with an emphasis in determining the right and wrong” (Ferrell et.al, 2010). This case study will analyze Coca Cola for the ethical dilemmas they were involved in Belgium, and how the company responded to the issues.
Ethical issues in business are a common placed every day occurrence that will never cease to exist. We will discuss an ethical issue that involves a large American corporation and its practices when dealing with suppliers of produce that is essential but not solely used by this business. We will present several point of views backed by literary findings that suggest ethical practices may or may not be at hand.
Toyota issues in automotive industry resulted from a lack of moral and ethical obligations to loyal customers. In fact, people encounter ethics at one time or another. A business expectation is to act in manner upholding society values. According to authors Trevino and Nelson, (2004) states, “a set of moral principals or values, or the principals, norm, and standards of conduct governing a group or individual.” On the other hand, three ethical criteria determined in this discussion like obligation, moral ideas, and consequences which this article highlights an ethical dilemma with automobiles makers.
In 1994, a new form of advertising and getting products and services into the world was discovered: the internet. Online advertising has been growing rapidly. We can see advertisements on almost any webpage we go to. Even if you try to avoid ads, you are bound to find some. This leads us to a crucial part of advertising which is ethics.
With sports becoming more and more commercialized, sponsorships have taken over professional sports. In this paper, Alcohol and Tobacco sponsorships will be the issue of this paper. Sports sponsorship has become an important marketing tool for advertiser’s because of the flexibility, broad reach, and high level of brand or corporate exposure that it affords, (Krapp, 49). Yet some sponsors have created an uproar within the society, namely alcohol and tobacco products. These two make up about half of the sponsorship in professional sports today.
While in class, I didn’t quite agree with the idea that commercialization could completely corrupt sport with a more attuned understanding of the Corruption Thesis; I now understand how it could and where many critics of sports commercialization are coming
audience, the advertising industry is charged with several ethical breeches, which focus on a lack of societal responsibility (Treise 59). Child Advocacy groups and concerned parents, among others, question the ethicality of advertising claims and appeals that are directed towards vulnerable groups in particular, children (Bush 31).
In order to generate sales, marketers often promote aggressively and uniquely, unfortunately, not all marketing advertisements are done ethically. Companies around the globe spend billions of dollars to promote new products and services and advertising is one of the key tools to communicate with consumers. Conversely, some methods that marketers use to produce advertisements and to generate sales is deceptive and unethical. Ethical issues concern in marketing has always been noted in marketing practice. According to Prothero (2008), ethics itself has a profound, varied and rich past. It emphasizes on questions of right and wrong or good and bad.
Young, D. (2012). Green Marketing & Marketing Ethics, Room 009, Block 17, Middlesex University Dubai. (25th March, 2012)