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Good Marketing Ethics Ethical standards in business basically refer to the actions taken organisations as well as employees to ensure that their activities and operations are not detrimental but helpful to the surrounding community. Corporations endeavour to engage in ethical marketing as they perceive that this is what modern consumers expect.
The UK Co-operative bank is a perfect illustration of a business that endeavours to observe ethical principles that are dependent on the ethical practices that in which their consumers believe. The activities of businesses will always positively or negatively affect the surrounding environment and thus the community. Business operations predictably result in social as well as ecological consequences. Some firms, by their very character, have a vast and obvious effect on the society and the environment. The impact of the businesses in financial services field is not always evident. The UK Cooperative bank is aware that through its banking as well as finance services, the bank can be more influential and insightful than using the direct effect of actual operations. This bank has, therefore, put statutes in place to guarantee that this impact is managed. The UK Cooperative bank's Ethical Policy was initiated in 1992 to determine exactly what ethical standards would preside over the kinds of business operations in which the bank would participate. When looking to decide what ethical principles to embrace, it is critical for a financial institution to take into account whose ethics to embrace. ...
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