Ethics in Marketing, Finance and HR
Explore ethical dilemmas in marketing, analyzing product development, pricing strategies, distribution practices, and promotions. Learn about unethical marketing practices to avoid. Enhance your understanding of advertising principles and responsible business behavior.
- Ethics in Marketing
- Product Development
- Pricing Strategies
- Distribution Practices
- Advertising Principles
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Presentation Transcript
ETHICS IN MARKETING, FINANCE AND HR
ETHICS IN MARKETING Ethical issues related to the marketing mix Unethical marketing practices Ethical dilemmas in marketing Ethics in Advertising Types of unethical ads
Ethical issues related to the marketing mix Product Development of new products Encourage materialism Performance and safety Poor design Lack of quality Packaging (copying, lays) Counterfeiting Expired products
Ethical issues related to the marketing mix Price Psychological pricing Discriminatory pricing Price rigging Price fixing Price wars Price skimming Price gouging Predatory pricing
Ethical issues related to the marketing mix Place Premium for shelf space Grey market Hoarding Monopoly outlets Delay in delivery of goods
Ethical issues related to the marketing mix Promotion Deception Invasiveness Unethical sales promotion Unethical advertising
Unethical marketing practices False, exaggerated, unverified claims Distortion of facts Concealing dark sides or side effects Bad mouthing rivals Using women in advertising Using fear Plagiarism Exploitation Demeaning references to age, sex, religion or race Spamming
Ethical dilemmas in marketing Invasion of privacy Spamming Public bashing Dishonesty and distortion Distorted endorsements Misuse of contests Opportunism
Basic principals OF ADVERTISING Decency Honesty Social Responsibility Truthful presentation Comparisons Imitation Safety and health Avoidance of Harm Environmental behavior
WAYS OF UNETHICAL ADVERTISING Surrogate advertisement Puffery Exaggeration Weasel claims Subliminal ads Unverified claims Women stereotyping Women used as sex symbols for promoting products Comparative advertisements Use of children in advertising
Ethical issues in HR Labour costs Selection of employees Training of employees Placement of employees Performance appraisal Horn Halo Central tendency Leniency Strictness Bias Promotion of employees Transfers Compensation to employees Terminations
Ethical issues in HR Downsizing Working conditions Welfare facilities Working hours Sexual harassment
Ethical leadership Ethical leadership is leadership that is directed by respect for ethical beliefs and values and for the dignity and rights of others. It is related to concepts such as trust, honesty, consideration, charisma and fairness
Characteristics of ethical leadership Good listener People s person Fairness Integrity Confidentiality No tolerance for ethical violations Service motive Dignity and respectfulness
Characteristics of ethical leadership Justice Respect for others Honesty Humane Focus on team building Value driven Lead by example Encourages
Importance of ethical leadership Act as role models in organisation and community Builds trust Bring credibility and respect for self and organisation Leads to collaborations Creates good climate within the organisation Right way to go Can afford self respect
Ethics in finance Scope of ethics in finance Ethics of finance manager Ethics in taxation Corporate crime Major corporate scams in India Role of SEBI in ensuring corporate governance Cadbury committee report
