Ethical Issues Affecting Each Component of the Marketing Mix
Ethical Issues Affecting Each Component of the Marketing Mix
Ethical issues in businesses among other related issues like conflicts or success revolves around relationships. In today’s business world, it has become inevitable to built strong and effectives between all the key players in businesses. Key player in this case include shareholders, investors, customers, suppliers and managers who are responsible for the development of strategies aimed at attaining success (Carroll et al 403). The board of directors in every business has the mandate of giving direction and oversight making sure that the business does not stray from its course and remains relevant in achieving its objectives in a socially acceptable, legally acceptable and ethical manner. In many instances of unethical business conduct, there exists a certain degree of compliancy and knowing corporation which acts to perpetuate the acceptance of such conduct. Importantly, most ethical issues come into existence due to conflicts in belief patterns and value conflicts regarding what is wrong or what is right. This occurs because ethical standards are a derivative of deeply-rooted personal believes and societal morals which may not be universally agreed upon.
Ethical issues exist in all functional areas of the businesses including; finance, accounting, production, marketing, operations and even management. They involve practices like product safety, human resource management, plant safety, business practices and environmental problems among others (Carroll et al 412). The elements of the marketing mix are important aspects of the business which can be evaluated in the light of ethical issues. Marketing mix encompasses all the major areas of decision making affecting the marketing process and when carefully blended, desirable results for the organization are obtained. Marketing mix is important for all businesses as it shapes the function of marketing in both non-profit making and profit making
Ethical issues in businesses among other related issues like conflicts or success revolves around relationships. In today’s business world, it has become inevitable to built strong and effectives between all the key players in businesses. Key player in this case include shareholders, investors, customers, suppliers and managers who are responsible for the development of strategies aimed at attaining success (Carroll et al 403). The board of directors in every business has the mandate of giving direction and oversight making sure that the business does not stray from its course and remains relevant in achieving its objectives in a socially acceptable, legally acceptable and ethical manner. In many instances of unethical business conduct, there exists a certain degree of compliancy and knowing corporation which acts to perpetuate the acceptance of such conduct. Importantly, most ethical issues come into existence due to conflicts in belief patterns and value conflicts regarding what is wrong or what is right. This occurs because ethical standards are a derivative of deeply-rooted personal believes and societal morals which may not be universally agreed upon.
Ethical issues exist in all functional areas of the businesses including; finance, accounting, production, marketing, operations and even management. They involve practices like product safety, human resource management, plant safety, business practices and environmental problems among others (Carroll et al 412). The elements of the marketing mix are important aspects of the business which can be evaluated in the light of ethical issues. Marketing mix encompasses all the major areas of decision making affecting the marketing process and when carefully blended, desirable results for the organization are obtained. Marketing mix is important for all businesses as it shapes the function of marketing in both non-profit making and profit making
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