Podcast
Questions and Answers
What is the central purpose of corporate governance?
What is the central purpose of corporate governance?
What is the Greek word from which the term 'ethics' is derived?
What is the Greek word from which the term 'ethics' is derived?
According to Churchill, how did he define ethics?
According to Churchill, how did he define ethics?
What does the term 'CSR' stand for?
What does the term 'CSR' stand for?
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What is the central focus of developing a student's ethical awareness, reflection, and decision-making ability?
What is the central focus of developing a student's ethical awareness, reflection, and decision-making ability?
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What is the central focus of marketing ethics?
What is the central focus of marketing ethics?
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What are the 4 P's of marketing?
What are the 4 P's of marketing?
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What is a common ethical issue related to product decisions in marketing?
What is a common ethical issue related to product decisions in marketing?
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What is the primary goal of organizations implementing marketing ethics?
What is the primary goal of organizations implementing marketing ethics?
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What principles guide a company's promotional activities in marketing ethics?
What principles guide a company's promotional activities in marketing ethics?
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Study Notes
Corporate Governance and Ethics
- The central purpose of corporate governance is to ensure that a company is directed and controlled in a way that is in the best interests of its stakeholders.
Ethics
- The term 'ethics' is derived from the Greek word 'ethos', meaning character or moral nature.
- According to Winston Churchill, ethics is defined as "the pursuit of moral values, moral principles, and moral ideals".
Corporate Social Responsibility (CSR)
- CSR stands for Corporate Social Responsibility, which refers to a company's commitment to contribute to the well-being of society.
Ethical Awareness and Decision-Making
- The central focus of developing a student's ethical awareness, reflection, and decision-making ability is to equip them with the skills to make informed, ethical decisions in their personal and professional lives.
Marketing Ethics
- The central focus of marketing ethics is to ensure that marketing practices are responsible, fair, and honest, and do not harm consumers or the environment.
Marketing Mix
- The 4 P's of marketing are: Product, Price, Place, and Promotion.
Ethical Issues in Marketing
- A common ethical issue related to product decisions in marketing is planned obsolescence, where products are deliberately designed to have a limited lifespan, leading to waste and environmental harm.
Goals and Principles of Marketing Ethics
- The primary goal of organizations implementing marketing ethics is to promote trust, transparency, and accountability in their marketing practices.
- The principles guiding a company's promotional activities in marketing ethics are honesty, transparency, and fairness, ensuring that all marketing communications are truthful, respectful, and compliant with laws and regulations.
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Description
Test your knowledge of ethics and governance with this quiz covering topics such as business ethics, marketing ethics, corporate governance, and corporate social responsibility. Challenge yourself to understand the principles and decision-making processes essential for ethical business practices.
