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ABC's of Relationship Selling, 7/e
Charles M. Futrell, Texas A&M University

Social, Ethical, and Legal Issues in Selling

Glossary

breach of warranty  A legal cause of action; a theory on which an injured party seeks damages. It arises when a salesperson makes erroneous statements or offers false promises regarding a product's characteristics and capabilities.
(See 47)
CCC GOMES  Acronym for the eight important stakeholders of an organization; customers, community, creditors, government, owners, managers, employees, suppliers.
(See 36)
Clayton Act  Prohibits the practice of tie-in sales when they substantially lessen competition.
(See 51)
code of ethics  A formal statement of the company's values concerning ethics and social issues.
(See 54)
conventional moral development level  The second level of an individual's moral development. At this level, an individual conforms to the expectations of others, such as family, employer, boss, and society, and upholds moral and legal laws.
(See 38)
cooling-off laws  Laws that provide a cooling-off period during which the buyer may cancel the contract, return any merchandise, and obtain a full refund.
(See 52)
cooperative acceptance  The right of employees to be treated fairly and with respect regardless of race, sex, national origin, physical disability, age, or religion, while on the job.
(See 43)
discretionary responsibility  Actions taken by a company that are purely voluntary and guided by its desire to make social contributions not mandated by economics, law, or ethics.
(See 37)
employee rights  Rights desired by employees regarding their job security and the treatment administered by their employers while on the job, irrespective of whether those rights are currently protected by law or collective bargaining agreements of labor unions.
(See 42)
ethical behavior  Behavior that demonstrates a willingness to treat others fairly, shows one to be honest and trustworthy, and exhibits loyalty to company, associates, and the work for which one is responsible.
(See 39)
ethics  Principles of right or good conduct, or a body of such principles, that affect good and bad business practices.
(See 39)
ethics committee  A group of executives appointed to oversee company ethics.
(See 54)
ethics ombudsman  An official given the responsibility of corporate conscience who hears and investigates ethical complaints and informs top management of potential ethical issues.
(See 54)
Green River ordinances  A type of ordinance that protects consumers and aids local firms by making it more difficult for outside competition to enter the market.
(See 52)
misrepresentation  A legal cause of action; a theory on which an injured party seeks damages. It arises when a salesperson makes erroneous statements or offers false promises regarding a product's characteristics and capabilities.
(See 47)
preconventional moral development level  The first level of an individual's moral development. At this level, an individual acts in his or her own best interest and thus follows rules to avoid punishment or receive rewards. This individual would break moral and legal laws.
(See 38)
price discrimination  The act of selling the same quantity of the same product to different buyers at different prices.
(See 51)
principled moral development level  The third level of an individual's moral development. At this level, an individual lives by an internal set of morals, values, and ethics, regardless of punishments or majority opinion.
(See 38)
reciprocity  An agreement by which a person or organization buys a product if the person or organization selling the product also buys a product from the first party.
(See 52)
Robinson-Patman Act  An act that allows sellers to grant quantity discounts to larger buyers based on savings in manufacturing costs.
(See 51)
social responsibility  The responsibility to profitably serve employees and customers in an ethical and lawful manner.
(See 35)
stakeholder  Any group within or outside the organization that has a stake in the organization's performance.
(See 36)
termination-at-will rule  The employer's right to terminate sales personnel for poor performance, excessive absenteeism, unsafe conduct, and poor organizational citizenship.
(See 42)
tie-in sale  Prohibited under the Clayton Act, it occurs when a buyer is required to buy other, unwanted products in order to buy a particular line of merchandise.
(See 51)




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