Business Buying Behavior
Ethics in B2B Markets
Key Takeaway
Ethics
come into play in almost all business settings. Business-to-business
markets are no different. For example, unlike B2C markets, offering
customers perks is very common in B2B settings. In many foreign
countries, government buyers demand bribes be paid if a company wants to
do business with them. Understanding the laws and regulations that
apply to their firms is an obvious starting point for companies, their
executives, and employees in terms of knowing how to act ethically.
Companies are also adopting ethics codes that provide general guidelines
about how their employees should behave, requiring their employees to
go through ethics training, and hiring chief ethics officers. Companies
want to do business with firms that are responsible. They don't want to
be associated with firms that are not. Why? Because they know ethics are
important to consumers and that they are increasingly demanding firms
behave responsibly.