ethical issues in marketing that has been practiced in malaysia

We were glad to note that the recommendation was accepted, and as a result the MACC was formed in 2009. Ethical issues must be considered in all integrated marketing communication decisions. He graduated from the University of Adelaide with first class honours in mechanical engineering in 1968. Ethical marketing must be devoid of all forms of discrimination. In such a scenario, where markets are artificially distorted, ethics could be compromised. Forfeiture of performance bonds would be frowned upon by shareholders or stakeholders and should instil the discipline required for businesses to compete based on merit. 2. Tan Sri Yong Poh Kon’s views on business ethics in Malaysia. It is a peculiar situation that in this country, through the licensing process, the mainstream media – press and TV – are owned by the political parties in the government. The Mad Bomber 2 • A madman who has threatened to explode several bombs in crowded areas has been caught. https://doi.org/10.1016/B978-0-08-100097-7.00003-9. Ethical Issues in Marketing: The Context of Developing Countries Introduction: Marketing, in contemporary times, has seen a tumultuous change in the way it's conducted in developing countries. Ethical Issues In Malaysia Airlines. Such commitment to ethical business practices is translated into written codes of conduct or guidelines that determine how company employees should interact with external parties principally in the areas of procurement and sales. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge. Ethical Issues in Marketing 3405 Words | 14 Pages. As for taxation, the issue in ethics is that businesses should not be paying more taxes than what is required. What must markets do in instituting sound ethics or is this an unattainable target? Furthermore, the chapter presents important aspects of both consumers’ and firms’ decision-making processes, influencing ethical marketing. Given the improvements made by the judiciary and the courts, whereupon the targeted time for disposal of cases is 9 months instead of the many years previously, the truth should emerge in a matter of months. Whilst independent panels and boards have been established to oversee its operations, however, organisational/structural changes are required before it can be fully independent. Theories on ethical marketing are reviewed and extant research is presented. Copyright © 2021 Elsevier B.V. or its licensors or contributors. Have they been effective in addressing corruption in the public and private sectors in Malaysia? This in light of the recent news that UK-based investors are suing a company in Malaysia. In Hamlet, Shakespeare wrote “May one be pardon’d and retain the offence? The said companies do not take into account the opinion of the community at all in their activities. Poor air quality is also having a significant knock-on effect on the country’s tourist trade. Royal Selangor – You have successfully built and run Royal Selangor Pewter as a brand and a business. Below is a scenario related to the accuracy issue [19]: The presence of  senior legal counsels directly employed by  MACC to give opinions independent of the attorney general would be one way to  assist its panels and board to better  guide  the  MACC in its work. Tan Sri Yong Poh Kon is managing director of Royal Selangor International Sdn Bhd, manufacturer and exporter of pewter products. Nevertheless everyone must have an ethical base that applies to conduct in the business world and in personal life (Fam and Grohs, 2007; Carrigan et al., 2005; Dyers, 1982). The opinions expressed are her own.). In the 1MDB case highlighted, it appears that parcels of prime government land were not auctioned but transferred at prices that were below market value, hence public money was involved and the expectation is that disclosure is necessary. In Singapore or Hong Kong, public auctions of government land are conducted routinely to ensure that the state is fully protected in getting the best value for the common good. Ethical values are situation specific and time oriented. For over three decades, Tan Sri Yong has been associated closely with the Federation of Malaysian Manufacturers (FMM), and is currently its president. has been a consistent theme throughout the changes even though it was not highlighted as the main objective of each reform. How is corruption monitored in the private sector? The commitment of leadership of a company to ethics is important in setting the overall tone and environment for ethical business practices. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region. In the Malaysian case, the watchdog bodies are mainly appointed from civil society and are not on the payroll of the government. These basic issues have been solved partially using technological approaches, such as encryption technique, SSL, Learn how to become a profitable content marketing pro with the most comprehensive and up-to-date guide on the market today. Last year, Beijing issued two “red alerts” for pollution, the highest level warning which calls for emergency measures such as closing schools and restricting car use. 1, 2010 122 Issues in Information Systems Accuracy Scenario Misinformation has a way of fouling up people’s lives, especially when the party with the inaccurate information has an advantage in power and authority. Incomplete reporting b. sisli elektrikci. Analyzing Ethical Issues in Marketing Kari Bertrand MKT/554 November 11, 2013 Sandra Payne Analyzing Ethical Issues in Marketing There are three areas of ethical concerns for marketing flavored cigarettes. We investigate the company's ethics. The oft cited dictum that only change is constant in the marketing genre is an apposite one. The literature review indicates that prior studies related to corporate governance have largely focused on governance structure. What is blocking the tubes in the fight to eradicate corruption? Copyright © 2021 Investvine - Asia Business News. Apart from education, I believe that professional watchdogs have a role to play in self-regulation of their profession, and citizen/community-based groups can also be powerful vehicles in ensuring ethical behaviour if they receive the support and mandate from the community/stakeholders they serve. This cuts across industries and sectors. (Firoz Abdul Hamid is an Inside Investor contributor. 6. Can there be convergence? Has the relationship between the public and private sector become too blurred that certain practices, which may deem outright violation to sound business practice, have become a norm in parts of the world? When public funds are involved, full transparency and accountability is required. 10. (2005: 17) have appropriately defined marketing ethics broadly as “the systematic study of how moral standards are applied to marketing decisions, behaviors and institutions.” Chief amongst them... Save my name, email, and website in this browser for the next time I comment. It is based on extant literature and personal experiences and insights of the author about marketing practices in the region. A case in point is the recent article highlighted in a Malaysian local online media on the role of Khazanah and 1MDB. Some seek to influence political decision-making illicitly. If the value is less than the cost, it’s unethical. This would allow the chief commissioner to be independent of the highest levels of the executive. At the same time, the tax collection and enforcement agencies must also be fair and ethical and collect for the authority only what is due. Chief amongst them was corruption, or the lack of ingrained and notable outcomes in weeding out corruption in the public and private sector. The integrity pact requires tenderers to formally agree to ethical practices, and if they are subsequently found to have violated such practices, they will need to agree to a forfeiture of the performance bond. To ensure ethical behaviour in public procurement, it is necessary for vendors/tenderers to sign an integrity pact prior to the bidding and awarding of projects. What did you have to do in ensuring trust is built in your brand? In Malaysia, for instance, you have the Malaysian Anti-Corruption Commission (MACC) which has come under a lot of scrutiny and criticisms. Unfortunately, he has already planted the bombs and they are scheduled to go off in a short time. On the back on these queries I interviewed Tan Sri Yong Poh Kon, Managing Director of Royal Selangor International Sdn Bhd, who continues to advise the government of Malaysia in very prominent capacities on this proverbial topic of ethics in Malaysia. Can you realistically legislate ethics, or does ethics begin with the education system in a country? In it’s most basic form, socially responsible marketing is taking moral actions that encourage a positive impact on all the company’s stakeholders, including employees, community, consumers, and shareholders. Your example of 1MDB is certainly one which would benefit from fuller disclosure. We use cookies to help provide and enhance our service and tailor content and ads. To be socially responsible is when the organization is concerned about people, society and environment with whom and where it conducts business. He  also  sits on the boards of  the  Malaysian Investment Development Authority  (MIDA) and the Malaysian External Trade Development Corporation (MATRADE). Or is culture impeding these countries from doing so? Investing in real estate: Is KL's Desa Park City a good investment. Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. 1. Ethics and bottom lines – Corruption distorts markets. 4. Apolitical watchdog bodies – To be effective, these bodies must be apolitical. The sad truth is, ethical fashion still needs a really great marketing campaign behind it in order to become the buzzword brands behind the movement want it to be. Lately, the child pornography issues is quiet a concern in Malaysia, since in global, this is the major seriousness regarding ICT and humanity ethics. The authorities cannot make him disclose the location of the bombs by conventional methods. Furthermore, three quarters of these complaints result in investigations, and when asked whether the ICAC has their confidence, more than 90 per cent  of the public say they do. How does one balance between pressures of bottom-line, shareholder and stakeholder expectation with ethics in business? Perhaps. In the corrupted currents of this world, offence’s gilded hand may shove by justice, and oft is seen the wicked prize itself buys out the law.” (Hamlet act 3, scene 3). The lack of information to the public is among the reasons why corruption continues and education of the masses is not happening at the rate that it should. Perhaps businesses are so driven by bottom lines, bonus packages and executives on their recognition of status that the quest for ethics has gone to the back burners to rot, sometimes even couched as corporate social responsibility. Strong and effective enforcement, prosecution and conviction of the corrupt, without fear or favour, would be the best way to deter citizens of a country from engaging in  corrupt practices. An ethical marketing process is a … Drawing from a country-branding perspective, the chapter examines several issues pertaining to physical, human capital, export, investment and FDI, culture and heritage, political, and social dimensions, and the new … This would make the payment of taxes to be spread out evenly amongst the proper taxable persons. With the advent of a lot of skepticism concerning what people read online, it’s more important than ever to pay attention to ethical issues in content and social media marketing – especially if you want to be successful with your efforts at it. It often takes a journalist to uncover something, but in some media houses (not specific to any country) it then becomes a management decision whether to be the first to uncover such stories. The education system can contribute significantly to the process in the long term as the young are educated and imbibed with the intrinsic value of ethical behaviour. Recognition and respect for ethics, covering a wide range of issues can be used as USP (unique selling point) for a company. Is Tesco ethical? Southeast Asian news and musings, weekly, sorta. [caption id="attachment_8222" align="alignleft" width="163"] By Firoz Abdul Hamid[/caption] In Hamlet, Shakespeare wrote “May one be pardon’d and retain the offence? I understand that since then they have decided to take the matter through the civil courts. Notably, there has been less focus on the ethical considerations of governance. It is easier than ever before for companies to connect directly with customers and collect individual information that goes into a computer database to be matched with other pieces of data collected during unrelated transactions. PEMANDU, the government’s transformation unit, shared views on how Malaysia names and shames offenders. The first concern is the marketing to younger consumers or minors, that are not legally able to purchase tobacco products, (Layton, 2010). Are the roles of watchdog bodies clear and are media being selective in highlighting the stories on ethics? Market research has experienced a resurgence with the widespread use of the Internet and the popularity of social networking. Keyword: Ethical issues, Corruption, Malaysia, Public administration One that can satisfy the expectations of your clientele. Instituting ethics – Much has been spoken of bankers and their work culture towards governance and their compensation/incentive packages. Government-linked companies are often seen to be favoured. Demeaning references to races, age, sex, or religion. Direct marketing is the most controversial of advertising channels, particularly … This task force comprises 9 private sector members and 21 of the top civil servants of the country. A much freer press and more liberal media licensing will also allow for better competition in presenting news which will, over time, lead to a more informed public that will not tolerate corruption as part of doing business. Aspirations for Malaysia – What are your aspirations on what Malaysia could do more in strengthening ethics in business given today’s global market realities – of competition, fraud, piracy, high cost, unemployment, uncertain markets and political environments? Successful enforcement of the law requires qualified and resourceful enforcement officers backed up with competent prosecuting officers from the attorney general’s chambers. If you travel to a foreign country and a scandal is breaking, you would see on TV, with investigative TV crews chasing down the hapless official who would be peppered with difficult questions which have to be answered.
ethical issues in marketing that has been practiced in malaysia 2021