We studied in chapter one of our marketing book that nowadays there is a strong pressure on businesses to become more ethical. We have seen in the past that whenever businesses have departed from their ethical values, only then they have created problems for not only the American economy but also for the world economy. The Great Depression and now the Credit Crunch all took place because some Bankers and influential businesses stopped being ethical and thus they damaged the world economy. There were some who used to take huge bonuses whereas their companies were failing and some bankers were advancing loans to those who were not capable of repaying those loans. We should be clear about one thing that the majority of business people are not greedy and unethical. Their image has also been tarnished just because of the actions of a few. We as the future business people have a huge responsibility on our shoulders to erase this label that all business people are greedy and unethical. Guys, check out this website related to who is really responsible for the economic crisis and what was the role of businesses in the past and what is it nowadays. Do give feedback.
http://www.economist.com/businessfinance/displayStory.cfm?story_id=15125372
Sunday, December 20, 2009
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1 comments:
Nowadays Ethics are a very influential factor in strategy making in many businesses and very rightly pionted out hassan they are very much due to various pressure groups. Moreover, Ethics some how relate to the Societal Marketing concept as well, therefore marketers do take into account a plan which is acceptable to the society as a whole from ethical point of view.
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