Question

Even though his business is very small, the owner of a LAN center wants to follow the American Marketing Association Statement of Ethics. Every month there is a "company cookout." At the end of the meal, the employee (from president to members of the cleaning staff) who had the best idea for improving the center, is honored and given a $25.00 gift certificate and a T-shirt that reads, "Great Minds Think Like Me." This action exhibits which key ethical value?

Answer 1

Answer:

Respect

Explanation:

The American Marketing Association (AMA)  Code of Ethics have three major ethical norms or standards of ethical behavior. These are: do no harm, foster trust in the marketing system, and embrace the ethical values.

AMA focuses on six ethical values namely :honesty, responsibility, fairness, respect, transparency, and citizenship.

Respect according to the AMA is to acknowledge the basic human dignity of all stakeholders. This include:

1. no racism or stereotyping of customers and employees
2. Improving the satisfaction of customers
3. Respect buyers, sellers and employees
4. Acknowledge the contributions of consultants, employees and coworkers, to marketing endeavors.
5. Treat everyone as well as competitors justly

Answer 2

Answer: Respect

Explanation: Certain individuals exhibit certain characteristics, attributes, qualities or positive abilities which may be rare and as such evokes a certain level of admiration or regard from observers. This feeling of admiration or regard for others due to their abilities or qualities is called Respect. In the context above, The honor or recognition being conferred on anyone irrespective of hierarchy for having the best idea for improving the LAN center is a ethical value which showcase RESPECT for such individual.