Business and Marketing Ethics

Read this article on business and marketing ethics in the global marketplace. Look at the discussion topics at the end of the article and reflect on each question.

Codes of Ethics Governing Businesses and Marketers

The Illinois Institute of Technology's Center for the Study of Ethics in the Professions provides a large database of codes of ethics and other related resources for a large number of professional fields. Among some of the codes most relevant to business and marketing professionals are:

1. American Marketing Association (http://www.marketingpower.com/AboutAMA/Pages/Statement%20of%20Ethics.aspx)

Ethical Norms and Values for Marketers:

  • Do no harm.
  • Foster trust in the marketing system.
  • Embrace ethical values.
  • Strive to be truthful at all times.
  • Offer products of value that do as claimed.
  • Stand behind products that fail to deliver as claimed.
  • Honor commitments and promises.
  • Strive to serve the needs of customers.
  • Avoid using coercion with all stakeholders. 
  • Consider environmental stewardship in decision-making.
  • Value individual differences and avoid stereotyping customers in a negative way.
  • List to needs of customers and make reasonable efforts to improve their satisfaction.
  • Give back to the community through volunteerism and charitable donations.

2. Better Business Bureau (http://mbc.bbb.org/business-code-of-ethics/)

Business Code of Ethics:

  • Equality: recognize individual rights and display a fair sense of justice.
  • Truth: strive to be open about all aspects of all offered products and services.
  • Honesty: uphold the principle of fair play and be vigilant against deceptiveness.
  • Integrity: serve customers with honestly, and avoid preying on human ignorance or gullibility.
  • Cooperativeness: support a healthy marketplace through cooperation with customers, other businesses, and every person who benefits from an ethical, free-market system.
  • Self-Regulation: honor all commitments, and seek to resolve any disputes in a fair and expeditious manner.