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Ethics - Coggle Diagram
Ethics
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- Taxes and SEC regulations.
- Americans with Disabilities Act.
- Major Federal Laws Affecting Retail
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- Horizontal Price Fixing: Fixed price establishment by competing retailers.
- Vertical Price Fixing: Agreed resale price between retailer and manufacturer/wholesaler.
- Deceptive Pricing: Misleading pricing to lure customers.
- Example: Mr. Edward Heath (former British PM and the lottery incident).
- Predatory Pricing: Different prices in different areas to eliminate competition.
- Example: Prices of goods in New York and DC (e.g., Sears, Macy's).
- Definition: Set of rules for human moral behavior.
- Explicit Code: Written policy specifying ethical/unethical behavior.
- Implicit Code: Unwritten, understood moral responsibilities.
- Discussion on Ethics in Retailing
- Misuse of Company Assets.
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- Ethical Behavior in Retailing
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- Retailer Employee – Relationship.
- Legal & Ethical Behavior in Retailing
- Importance: Given the competitive, dynamic environment.
- Sources: Dunne and Lusch, 1999.
- Governed by (a) FTC Act and (b) Wheeler-Lea Amendment.
- Aim to prevent unfair trade practices, deceitful diversion, deceptive advertising, and sales practices.