MKT 431 Week 5 Ethics and Product Consumption Paper
Ethics and Product Consumption Paper (3M Company)
Keith D. Howard
MKT/41
February 23, 2015
Instructor: Glenna Twing
Ethics and Product Consumption Paper (3M Company)
The paper will identify how 3M Company conducts business in an ethical manner by evaluating the company’s performance when marketing their products using the six pillars of the marketing codes of ethics. These codes of ethics include honesty, responsibility, caring, respect, fairness, and citizenship. To ensure the codes of ethical conduct are performed, 3M’s leadership implemented policies that require 3M to compete for business with integrity, and conduct “business the right way, always and everywhere,” (Be Honest). To conclude, the paper will also identify at least two ways in which the company can further expand its good citizenship contribution to both national and global communities.
Six pillars of marketing
According to Scarborough (2014), “One of the most important tasks facing leaders is to mold a highly ethical culture for their companies. They also must demonstrate the character and the courage necessary to stick to the ethical standards that they create—especially in the face of difficulty,” (Essentials of Entrepreneurship and Small Business Management). 3M Company is listed as one of the world’s most ethical company’s in 2014, according to Forbes. “The Ethisphere Institute, a nine-year-old management consulting firm based in Scottsdale, AZ, is a player in the crowded field of corporate ethics rating. For the last eight years it has put out a list it labels the ‘World’s Most Ethical Companies.’ We’ve covered it on Forbes.com since 2011 and we’re doing it again this year,” (Adams, 2014)
As mentioned previously; when leaders practice integrity and honesty in business, it influences others and results in the formation of an honest business culture.
Honesty – In an attempt to honor 3M’s “Be Honest” policy, the company implemented seven principles in which decision makers and the
Keith D. Howard
MKT/41
February 23, 2015
Instructor: Glenna Twing
Ethics and Product Consumption Paper (3M Company)
The paper will identify how 3M Company conducts business in an ethical manner by evaluating the company’s performance when marketing their products using the six pillars of the marketing codes of ethics. These codes of ethics include honesty, responsibility, caring, respect, fairness, and citizenship. To ensure the codes of ethical conduct are performed, 3M’s leadership implemented policies that require 3M to compete for business with integrity, and conduct “business the right way, always and everywhere,” (Be Honest). To conclude, the paper will also identify at least two ways in which the company can further expand its good citizenship contribution to both national and global communities.
Six pillars of marketing
According to Scarborough (2014), “One of the most important tasks facing leaders is to mold a highly ethical culture for their companies. They also must demonstrate the character and the courage necessary to stick to the ethical standards that they create—especially in the face of difficulty,” (Essentials of Entrepreneurship and Small Business Management). 3M Company is listed as one of the world’s most ethical company’s in 2014, according to Forbes. “The Ethisphere Institute, a nine-year-old management consulting firm based in Scottsdale, AZ, is a player in the crowded field of corporate ethics rating. For the last eight years it has put out a list it labels the ‘World’s Most Ethical Companies.’ We’ve covered it on Forbes.com since 2011 and we’re doing it again this year,” (Adams, 2014)
As mentioned previously; when leaders practice integrity and honesty in business, it influences others and results in the formation of an honest business culture.
Honesty – In an attempt to honor 3M’s “Be Honest” policy, the company implemented seven principles in which decision makers and the
References: 3M. (2015). Retrieved from http://solutions.3m.com/wps/portal/3M/en_US/businessconduct/bcmain/policy/principles/ Adams, S. (2014). Forbes. Retrieved from http://www.forbes.com/sites/susanadams/2014/03/20/the-worlds-most-ethical-companies/ CIPE Development Institute. (n.d.). Retrieved from http://developmentinstitute.org/topics/corpcitizenship/ Scarborough, N. M. (2014). Essentials of Entrepreneurship and Small Business Management (7th ed.). Retrieved from The University of Phoenix eBook Collection database.