iSeeit!: Ethical Decisions

Ethical decision making is a key component of all successful businesses. Marketers should clearly understand the norms and values expected of them and act in a way that reflects their company, their profession, and themselves in a positive, ethical manner.

This activity is important because marketers may confront decisions that will boost short-term sales at the expense of the long-term reputation of the company. Employees will have to choose between the short-term benefit of a sale and the potential long-term damage caused to their brand or adhering to ethical standards.

The goal of this exercise is to demonstrate how Marco, owner of the Upcycled Dog, applies the eight-step ethical decision-making framework to navigate a difficult ethical challenge facing his company.

Ethical Decisions

Sustainability is key to Marco's marketing strategy. His loyal customers value the environment and appreciate that his products reflect their values. One day, Marco's biggest supplier offers a deeply discounted material. However, it is only partially upcycled.

The discount could reduce. Marco's operating expenses, allow him to offer reduced prices on partially upcycled products, and attract a new customer base. How should Marco balance these benefits against the potential impact to his brand, stakeholders, and reputation for sustainability? Marco relies on the Ethical Decision-Making Framework: 1.Determine the facts 2.Identify the ethical issue 3.Identify the stakeholders impacted by the decision 4.Consider alternatives 5.Consider how the decision will impact stakeholders 6.Discuss the pending decision with stakeholders 7.Make the decision 8.Monitor the decision

Question1: Which of the following statements accurately describes the ethical issue that Marco, owner of the Upcycled Dog, faces?

Multiple Choice

A.Marco decides to produce goods made from partially upcycled materials without informing his stakeholders of this decision.

B.Marco can save money, reduce prices, and attract a new customer base by using partially upcycled materials.

C.Producing goods made from partially upcycled materials is more cost effective and will only result in a minor loss of the firm's existing customer base.

Marco decides to inform his stakeholders that he is going to produce goods using only partially upcycled materials.

D.Producing goods made from partially upcycled materials can potentially violate the firm's brand, values, and reputation for sustainability.

Question2:

At which step in the ethical decision-making process does Marco sit down with his stakeholders to brainstorm different options for managing his ethical issue?

Multiple Choice

A.Consider all available alternatives.

B.Consider how the decision will affect the stakeholders.

C.Determine the facts in an unbiased manner.

D. Discuss the pending decision with stakeholders.

E. Monitor and assess the quality of the decision.

Question3:

Marco's ethical decision results in increased demand for his products, confirming that "going green is good for business." Which step of the ethical decision-making process would reveal such results?

Multiple Choice

A.Discuss the pending decision with stakeholders.

B.Determine the facts in an unbiased manner.

Make the decision.

C.Consider how the decision will affect the stakeholders.

D.Monitor and assess the quality of the decision.