When a Firm Decides to Integrate Ethical Decision Making into Its

question 65

Multiple Choice

When a firm decides to integrate ethical decision making into its strategic planning process, which of the following questions would most likely be asked at the implementation phase?

• A)Did any of the firm's actions have a negative impact on any stakeholder group?
• B)Does the firm want to include a commitment to ethics in its mission statement?
• C)Is the product priced fairly?
• D)Is the firm prepared in the event of an ethical lapse?
• E)Are there any new circumstances that require a change in strategy to avoid ethical issues?

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Definitions:

Psychographic Segments

Market segmentation based on consumers' lifestyle, interests, opinions, and personality traits, used to create more targeted marketing strategies.

Self-values

The core principles and ethics an individual holds, guiding their behavior and decisions.

Lifestyles

A component of psychographics; refers to the way a person lives his or her life to achieve goals.

Psychographic Segmentation

A marketing strategy that categorizes audiences based on their personality traits, values, attitudes, interests, and lifestyles to better tailor products and messages.