Ethical and Unethical issues in HR, Finance and Marketing: February 2019

Ethical issue in marketing Management

* Marketing

=> Marketing is the activity, set of institution, and processes for creating, communicating, delivering, and exchanging offering that have value for customers, clients, partners, and society at large

Ethical Issues

Some of the Ethical issues in marketing are given below:-

*Product packaging

*Pricing

*Advertising and Promotion

*Distribution

*Personal Selling

All of the above ethical issues in marketing are described below:-

1) Product packing

=> Business have to account for ethical issues regarding their products/services. Business is responsible for the products/services so, they should be accountable for the products and services like they make, designed etc. Clearly and potential risk that may affect the composition of the product by set forth on product packaging.

2) Pricing

=> The company is pricing their product according to market condition and economics variables , and undertakes to installs the prices of their products permanently. The company does not practice (dumping) price method that may damage the others.

3) Advertising and promotion

=> Advertisers are expected to show good and honest ads. Only true facts about a product should be shown, and exaggerations and lies must be avoided whereas promotion, the company must always be careful to avoid using misleading advertising to promote their products and the use of sales promotion techniques that may lead to deceive and mislead the purchaser.

4) Distribution

=> It is transporting them from manufacture to wholesalers, retailer and then to customers. The company provides a wide range of products and multiple option to meet the needs and desires of consumers.

5) Personal selling

=> It involves selling through a person-to-person communication process. It plays a dominant role in industries firm, while in others firms its role is minimized. The benefits of personal selling is lack of distraction, sources of research information etc whereas disadvantage is high cost, poor reach etc.

Unethical Issues

Some of the unethical issues in marketing are given below:-

1) Dumping

2) Bait and Switch

3) Emotional Exploitation

4) Misleading Advertising

All of the above HR unethical issues in marketing are described below:-

1) Dumping

=> It is selling at a loss to increase market share and destroy competition in order to subsequently raise price.

2) Bait and Switch

=> This attracting customers and then subjecting them to high pressure selling techniques to switch to more expensive alternative.

3) Emotional Exploitation

=> This is one of the most effective ways to advertise a business is to call people’s emotions like by making them laugh or evoking a sense of nostalgia helps consumers forge a small bond with own brand.

4) Misleading Advertising

=> Misleading, this ads are more than just unethical like illegal. It’s common for advertisers to exaggerate certain features and downplays others in order to make their products looks as attractive as possible, so the becomes somewhat blurry.

Ethical and unethical issues in finance Management

Finance management

=> It refers to efficient and effective management of money in such manner as to accomplish the objective of the organization.

Ethical Issues

Some of the Ethical issues in finance are given below:-

*Financial statement

*Financial markets

*Insider trading

*Hostile takeovers

All above the finance ethical issues are mentioned below:-

1) Financial statement

=> Preparing and maintaining precise and reliable financial statements is the essence of fair financial reporting. However, many companies are looking for ways to present their financial standing in a proper rather it’s actually.

2) Financial markets

=> In this, barriers like unequal information, bargaining power and resources can be controlled within the parties. Markets needs clients and clients are earned through confidence.

3) Insider trading

=> Insider trading is a huge issues among people. Many companies lose potential investor from insider trading because people who do not have information that is not yet into the public lose their confidence and trust towards the company.

4) Hostile takeovers

=> It is acquiring a majority interest in the stock of the company on the open market. Another method like a bidder may initiate a hostile takeover through a tender offer which means a bidder proposes to purchase the target company’s stock at a fixed price above the current price.

Unethical Issues

Some of the unethical issues in finance are given below:-

*Thefts

*Frauds

*Corruption

All above the finance unethical issues are mentioned below:-

1) Thefts

=> Companies bear big financial losses due to theft of raw materials, semi finished goods, finished goods ,supply ,scarf and raw materials. Often clerks like lower labour employee, security guards, drivers are also involved in this theft. Sometimes when goods are high monetary value then big officers are also involved in this theft.

2) Frauds

=> It is deliberate misrepresentation which causes another persons to suffers damages , usually monetary losses.

3) Corruption

=> It allocates resources and opportunities in that ways which are unfair and inefficient. Absences of accountability , social responsibility , lack of proper control is the main cause of corruption.

Ethical and Unethical issues of HR Management

Ethical issues are most difficult deal with of all the organizational issues or problems. Issues arises in employment , remuneration and benefits ,industrial relation and health and safety.

Ethical Issues

Some of the HR ethical Issues are given below.

*Cash and Impulse Plan

*Performance appraisal

*Safety and Wealth

*Privacy issues

*Employment issues

All of the above HR ethical issues are mentioned below:-

1. Performance appraisal

=> Ethics should be the basis of performance evaluation. Assessment of individual’s performance is based on the observation and judgement. This step is taken the effectiveness of employees.

2. Safety and Health

=> Much of the industrial work is dangerous because of the extensive use of noisy machinery and high speed, production process requires high temperature. Over past decade, new categories of accident and illness have emerged including the fast growing job safety problems of offices injuries.

3. Cash and Impulse Plan

=> This includes base salaries , annuals incentive plans, long term impulse plans, separations agreements and executives perquisites.

4. Privacy issues

=> It is protecting a person’s private life from path and unwarranted actions. The employee believes that his or her personal life style are private matter as well as religious, political and social believes. It should be safe guarded from being analysed.

5. Employment issues

=> HR practitioners face bigger dilemmas in employee hiring. One dilemma like pressure of hiring someone has been recommended by friend or family or top executives then in the other hand, when you already hired someone and later found to presented fake document

Unethical Issues

Some of the HR unethical issues are given below:-

* Lying to employees

* Disrupt company communication

* Wasting company time

* Abusive manners

All of the above HR unethical issues are mentioned below:-

1. Lying to employees

=> This is the way to lose the trust of our employees is to lie to them,yet employers do it all the time.

2. Wasting company time

=> It is insulating for someone who shows up late or altering a time sheet like these type includes knowing that one of your co-workers is conducting personal business on company time.

3. Disrupt company communication

=> Many types likes cyber slackers , cyber loafers etc are terms used to identify people who surf the web when they should be working.

4. Abusive manners

=>Managers and Supervisors fill too many workplace who use their positions and power to disrespect others.Unfortunately the situation you are in involves race or ethnic origin, there is often no legal protection against abusive manners in the workplace.