2 Ethical and Socially Responsible Marketing Analysis Social responsibility, ethical and legal issues and their effect on marketing For a companys effectiveness, it has to set all processes in place for it to run smoothly.
According to McClean (2019), a company committed to its effectiveness has the potential to grow much faster than a company that has not executed its effectiveness. Effectiveness is the accomplishment of total awareness in the institution. When the foundation is created with the company’s effectiveness; it gives the company strategies to abide by, which increases its chances of excelling in the competitive business environment. Social responsibility is the obligation of the organization to exploit its positive influence and minimize its negative influence. According to Sreevas (2020), marketing ethics are values and ethics that explain tolerable behaviors in advertising as per established by different shareholders such as the government, the society, industry, interest groups, and the company itself. The Main groups of social responsibility problems are natural environment, consumerism, and public relationships. An ethical dispute is a problem, a situation, or an opportunity identified that requires a person or a company to establish some actions that need to be assessed as ethical or unethical. Ethical issues in a company can be improved by contracting principled employees, removing unprincipled ones, and improving its ethical standards. The triple bottom line to an organizations sustainability
The general goal of sustainable business policy is to impact society and the environment positively and at the same time benefit the stockholders in the organization. The sustainable business strategy seeks to address the most pressing challenges in the business environment and driving the organization to success. it helps an organization measure profits and their impact on the people and the planet. There are three Ps of the triple bottom line which includes
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