Ethics is the set of moral principles or values that guides behavior. There is a general recognition that many, if not most, business decisions involve some ethical judgment. Each party in a marketing transaction brings a set of expectations regarding how the business relationship will exist and how transactions should be conducted. For example, when you as a consumer wish to purchase something from a retailer, you bring the following expectations about the transaction: (a) you want to Read More
Values
Values are the beliefs of an individual or group, and in this case the organization, in which they are emotionally invested. Some companies embed values directly into their mission statements, while others develop a separate list of corporate values to bundle with their vision and mission statements. Values are also an increasingly important component of organizations’ business ethics and corporate social responsibility initiatives. The Starbucks mission statement describes six guiding Read More