In the Context of the Business Costs of Ethical Failures

question 59

Multiple Choice

In the context of the business costs of ethical failures, level 1 costs that are less damaging and get more executive attention include:

• A) the cost of government fines and penalties.
• B) the cost of remedial education.
• C) the cost of corrective action.
• D) the cost of loss of reputation.
• E) employee turnover cost.

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Definitions:

Consumer-oriented

A business philosophy that places the interests and satisfaction of the consumer at the forefront of decision-making and product development.

Society-oriented

An approach or philosophy that places the welfare of society and the community above individual interests.

Societal Marketing Concept

A marketing approach that considers not only the needs and wants of consumers but also the long-term interests of society, focusing on sustainability and ethical practices.

Moral Principles

Fundamental beliefs or rules about right and wrong that guide an individual's behavior and decisions.