Legal and ethical issues in retailing. $mmtlp We look at 10 legal and ethical issues affecting Brokers, dealers, Hedge Funds and FINRA. Plus clarification on the class action. complianceportal.american.edu : MMTLP_ 2022-11-15
Legal and ethical issues in retailing Rating:
Retailing is an integral part of the modern economy and has a significant impact on the lives of consumers. Along with the various benefits it brings, retailing also poses several legal and ethical issues that need to be addressed.
One of the main legal issues faced by retailers is compliance with consumer protection laws. These laws aim to safeguard the rights of consumers and ensure that they are not exploited by retailers. For instance, retailers are required to clearly display the price of the products and services they offer, and provide accurate information about their quality and features. They are also expected to follow fair trade practices and not engage in deceptive marketing or advertising.
Another legal issue faced by retailers is the need to adhere to employment laws. This includes providing a safe and healthy work environment for employees, paying them fair wages and benefits, and not discriminating against them on the basis of race, gender, age, or other protected characteristics. Retailers also have to comply with laws related to the use of personal data and privacy. With the increasing use of technology in retailing, there is a need to ensure that consumer data is collected, used, and shared in a way that is transparent and compliant with relevant laws and regulations.
In addition to legal issues, retailers also face several ethical dilemmas. One such dilemma is the balance between profit and social responsibility. Retailers are under constant pressure to maximize their profits, but at the same time, they have a responsibility to consider the impact of their actions on society and the environment. For instance, they may be faced with the decision to source products from suppliers who offer low prices but have poor working conditions, or to invest in more sustainable practices that may have higher costs but benefit the environment.
Another ethical issue faced by retailers is the temptation to engage in unethical marketing practices. This includes targeting vulnerable consumers, such as children or elderly people, with misleading or manipulative advertising. Retailers also need to be mindful of their role in shaping consumer behavior and the impact of their marketing strategies on society.
In conclusion, retailing poses several legal and ethical issues that need to be addressed. Retailers have a responsibility to comply with consumer protection laws and employment laws, and to act ethically in their business practices. This includes considering the balance between profit and social responsibility, and avoiding unethical marketing practices. By addressing these issues, retailers can contribute to a fair and sustainable economy and enhance the well-being of consumers.
Ethical Issues In Retailing [8jlkjvy6g7n5]
The customer pays, but the merchant delivers the wrong goods or in less quantity or broken. Bol, Jam Willem and John B Gifford. What are the legal and ethical issues in retailing? At that time, ethical laws come into action and restrict unethical practices. This content was COPIED from BrainMass. In a retail store, a large number of retail employees work at different levels. Example of Unethical Business Practices Satyam Computers, a global IT company, was defamed in a notorious list of companies involved in fraudulent financial activities.
Stelly Term I: Writing Project 2010 Mrs. How can these retail businesses ensure the security of such information? In Middle Eastern Countries bribe is an accepted practice, but is unethical and even illegal in US. However, while the act outlined numerous accessibility issues, retailers may find that implementation is difficult due to their incomplete understanding of the experience of challenged shoppers in their stores. Ethical and Legal Issues in Retailing - An overview Focus on the Customer Dealing with Ethical Issues Awareness of Ethical issues Moral Philosophy,Intentions and Behavior The Organizational Environment Company Ethics Programs Social Responsibility Cost-free activities Legally Mandated activities Policy Influenced activities Group Imposed activities Interest-groups Coerced activities Free-will activities. A healthy relationship is important for the well-being of the organization. Companies cant treat employees different on the basis of their race, color, national origin, locationIllegal discrimination refers to actions of employees that results in members of a protected class members that share same characteristics as defined by the law being treated entirely different than others. In the next section, you will learn about the ethical practices followed in the retail environment.
$mmtlp We look at 10 legal and ethical issues affecting Brokers, dealers, Hedge Funds and FINRA. Plus clarification on the class action. complianceportal.american.edu : MMTLP_
Ethical issues: This is a set of rules for human moral behavior. However, we know very well that no two people can be the same. Fake reviews can be published on Amazon. It lets us know what to do and what not to do. Occurs when a retailer represents that merchandise is made by a firm other than the true manufacturer. Retailers like many businesses often have sensitive customer data such as credit card numbers. Following the administration of this test, brief summaries of contract law, relevant legal terms, and the history of the UCC are presented.
Under the Consumer Rights Act, traders have certain obligations when they supply goods including digital products to a consumer. If employees are treated badly in the organization, then they will speak wrong about it in front of others. The customer pays, but the money does not arrive at the seller. Therefore, it is important that retailers act ethically as they impact the lives of many people. Legal restrictions are imposed on practices concerning pricing, product, promotion, distribution, trademarks and HR policies. Online Privacy According to consumers, online security is a major concern. As nurses we have the responsibility to protect the right of the client by acting as client advocate.
You must be aware of the laws that apply to the retail and wholesale trade industry. It constructs the social, cultural, legal, economic, and other limits in which a business must operate. These laws are enforced both by government agencies and by private retail and consumer rights groups that monitor their members, like better business bureaus. Two Reasons:merchandise isnt sellingvendor mistakesDifficult for vendors - Disrupt relationships7 Counterfeit MerchandiseGoods made and sold without the permission of the owner of a trademark, a copyright, or a patented invention that is legally protected in the country where it is marketed 8 Exclusive Dealing AgreementsOccur when a manufacturer or wholesaler restricts a retailer into carrying only its products and nothing from competing vendorsExample: Safeway Coca-Cola Illegal when they restrict competition Issues in price settingHorizontal Price Fixing Occurs when a group of competing retailers or other channel members operating at a given level of distribution establishes a fixed price at which to sell certain brands of products. What is the role of IT in retailing? Though there are many laws influencing the business environment of the retailer, there are many more aspects that come under the purview of ethics. Retailing is the end unit of the Supply chain.
Some companies do not allow, therefore, Backdoor selling can be very risky and unethical. As a manager in the retail environment, how can you overcome these challenges? Create strong Customer Orientation Base decisions on customers wants Correct mistakes to Avoid future problems Think according to Customers Improve customer Experience Best Practices in Retailing Empower Customer participation Reward Workers Train Employees to Lead As a team Train employees to cope with emotional costs Treat all customers as Guests Related Documents. Magazines go sometimes beyond the ethical or legal bounds. They help those in need and seek to accomplish their business objectives in a manner that causes the least harm and the greatest positive good. What legislation affects selling of services and products? Retailing involves all activities required to market consumer goods and services to consumers who are purchasing for individual or family needs through a point of purchase. What are the major legal and ethical issues related to the use of technology in the retail environment? ETHICAL ISSUES IN RETAILING Although being customer focused is an absolute credo for most retailers, customers' want and needs can and often do conflict with society's long-term interest.
Environmental issues: Two environmental issues have received particular attention in recent years. A retailer can take fierce decisions in the absence of ethical practices. There will always be people who will indulge in unethical practices. This special service can reduce the salespersons productivity. Vertical Price FixingOccurs when a retailer collaborates with the manufacturer or wholesaler to resell an item at an agreed-on price. Ethics can be defined as the moral principles for the behavior of a person or an organization to conduct activities.
Legal and ethical issues for technology in retail environment
The CSR is related to the ethical expression to conduct business. It can be presented to consumers in various forms; one of the methods is one that is accomplished via the use of humor. . Misrepresentation of promotional information. Ways of unethical advertisementSurrogate advertisementPufferyExaggerationUnverified claimsComparative advertisementsUse of children in advertising 1 Surrogate advertisingIs prominently a case where advertising a particular product is banned by law. .
What Are The Legal And Ethical Issues In Retailing?
Palming Off Ethics policy for Motorola salespeopleImproper use of company funds and assets. Retail businesses are those that provide goods to customers, usually by selling them from a physical store location. Loyalty: Ethical executives who are trustworthy demonstrate fidelity and loyalty to persons and institutions by friendship in adversity, support and devotion to duty; they do not use or disclose information learned in confidence for professional advantage. . Relative Standards It is important for you to understand that in using relative standards, the retailer judges the morality of an act on the basis of the particular circumstances surrounding the action Absolute Standards These are standards which have rigid rules that clearly state whether an act is right or wrong; using these standards constitutes ethical behavior and is clear regardless of the circumstances surrounding the situation.