GLOBAL MARKETING ETHICS AND SOCIAL RESPONSIBILITY (Pages 139-147) by Dr. Ramesh L Rathod in THE INTERNATIONAL MANAGER / ISSN: 2348-9413 (Online); 2348-9405 (Print)

Over the past few years, globalization of markets and business organizations has increased the number of entrepreneurs and corporate executives involved in international and multinational joint ventures and strategic alliances. Others are interested in direct investments in foreign markets in an attempt to extend domestic operations, increase profit margins, and expand market shares. While these strategic business initiatives and efforts are increasingly attractive because of their potential benefits, organizations competing in global markets have to face up to the realities of committing to appropriate ethical standards and social responsibility in cross-cultural and international contexts of business. To understand the importance of ethics in marketing decision making, it is necessary to examine factors that influence ethical decision. These are: personal moral philosophy, organizational relationships and opportunities. They are intertwined in determining ethical decisions in marketing. Though the pursuit of social responsibility and ethical marketing does not automatically translate into increased profit, it is still the responsibility of the firm to ensure it is responsible for its actions and their impact on society. Keywords: globalization of markets, business organizations, foreign markets, increase profit margins, global markets, ethical standards, international contexts