Flashcard Set Preview
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| 1 |
Ethics vs laws
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1) moral principles and values that govern the actions and decisions of an individual or group2)...
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| 2 |
Motives for regulation of markets
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1) to protect competition2) to protect consumers3) to protect companies4) to protect consumers...
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| 3 |
Laws that protect competition
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1) sherman anti-trust act: forbids monopolies, restraint of trade2) Clayton act: forbids any...
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Things that protect companies
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Patents and copyrights
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Things that protect consumers
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Consumer Products Safety Act (by the CPS commission): sets standards and monitors product safety**unsafe...
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Things that protect consumers AND companies simultaneously
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Lanham act: registration of trademarks to identify unique sources of products and servicesR:...
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| 7 |
What can be trademarked?
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Names, phrases, words, logos, designs, sounds*you can lose trademarks if you don't fight to...
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| 8 |
Bill Gates & kinder capitalism&Adam smith
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1) meet the needs of the poor, b/c it's such a giant market, while still making a profit2)...
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| 9 |
Influences on ethical decisions
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1) social and cultural norms2) business culture and industry practice3) Corporate culture4)...
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| 10 |
Social and cultural norms
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learned, shared norms, values and attitudes-dictate what is right and just-different for different...
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Business culture and industry practice
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-affects ethical conduct in relationships between buyer/seller and in competitive behavior...
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| 12 |
Ethics of exchange&Ethics in competition
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1) both parties better off after a transaction-consumer bill of rights: consumers have the...
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| 13 |
Corporate culture
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1) norms, values, and attitudes shared by those of an organization (dress, sayings, behavior)-Code...
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| 14 |
Reference groups/individuals
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mentors, business leaders, spouses: Groups
or people you look to: who you compare behavior,...
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| 15 |
Personal/Moral philosophy
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influenced by all others above; learned through socialization and education-moral idealism:...
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| 16 |
components to competition: ENTRY & POWERFUL BUYER& SUPPLIER POWER& EXISTING COMPETITORS...
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1) ENTRY: barriers make it difficult for new firms to enter the market2) POWERFUL BUYER: few...
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| 17 |
consumerism
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started to increase influence, power, rights of consumers in dealing with institutions
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| 18 |
distribution related legislation
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1) exclusive dealing: seller/buyer agree to NOT handle competitor's products2) requirements...
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| 19 |
advertising/promo legislation
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1) FTC: -order cease and desist: if they think company's practices are unfair, they can "shut...
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| 20 |
self regulation
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industry attempts to policy itself (BBB)
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| 21 |
Social responsibility
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organizations are part of a larger society and are accountable for their actions: 1) profit...
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| 22 |
Social audit&Sustainable development
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assessment of a firm's objectives, strategies, performance in terms of social responsibilityconduct...
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| 23 |
Consumers must act ethically to; ways they act unethically
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1) misredeem coupons2) pirate music/movies3) phony insurance claims..they think everyone does...
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| 24 |
Cause marketing
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charitable contributions tied to a companies revenues produced by a promotionnatural connection...
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