E3, Ch 14A: Consumer Stakeholders Flashcards
(26 cards)
LBJ’s Affirmative Action Executive Order
requires federal contractors to take affirmative action to promote equal opportunity for women and minorities
Trumps Executive Order regarding Affirmative Action
ended illegal discrimination, restoring merit-based opportunity
revokes LBJs order
Office of _______ ________ _______ ______, under the Dept. of Labor, monitored LBJ’s Aff. Action
Federal Contract Compliance Program
the history of DEI reflects a journey from ____ _______ to embracing _______ and __________ as strategic imperatives that enrich organizational culture and performance
legal compliance
diversity
multiculturalism
with DEI, _____ _____ and _______ emerged.
during the 2010s, DEI expanded to include _____.
diversity training and programs
equity
equity
expansion of DEI focusing on systemic inequities affecting opportunities for different groups
DEI today, what we know (6)
- Discrimination against protected groups remains illegal
- Preferential treatment is prohibited
- EEO statements support anti-discrimination laws so should be OK
- AA statements probably not supported with exception of disability and veteran status
- What if state law requires AA? Ask a lawyer
- Advisable NOT to collect data regarding race
5 questions employers should consider
- Are the program’s opportunities open to all without regard to protected groups?
- Does the program generate opportunities to participate based on merit?
- Does the program select people based on job-relevant qualifications while accommodating medical conditions and religious practices?
- Is the availability of the program effectively communicated to all so that participation is truly open to all?
- Does the program provide opportunities to develop relevant skills, qualifications, and experiences for all to participate?
“The purpose of business is to _____ and _____ a customer” – Drucker
create and keep
Maximizing profits tends to degrade both ______ ______ and the company’s relationship with its _______
product quality
customers
Drucker said to employ a long-term workforce that… (2)
- insures against financial risk
- finance company’s top 2 functions: marketing and innovation
Customer Relationship Management
ability of an organization to effectively identify, acquire, and retain profitable and loyal customers
The question is: if loyal and profitable customers are the end goal of businesses….
why do customers need to be protected from businesses?
The Consumer Movement started with…
Upton Sinclair’s The Jungle (unsanitary conditions in meatpacking industry)
Unsafe At Any Speed, Ralph Nader
- father of modern consumer movement
- criticized auto industry and General Motors
- gave rise to auto safety regulations and devices
JFK’s The Consumer Magna Carta identifies 4 rights of consumers:
- right to safety
- right to choose
- right to be informed
- right to be heard
consumerism today
involves grassroots organizations, social media activism, and the rise of nonprofits
consumerism today: major issues fall into 2 groups…
- product/service information (what’s available and its validity)
- the product/service itself
specific information provided to consumers by businesses includes… (3)
- advertising
- warranties
- labeling
advertising issues: pro-advertising (4)
- informs customers
- increases consumer satisfaction
- connecting with consumers
- economical way of reaching consumers
advertising issues: anti-advertising (4)
- wasteful
- raises price of product
- ineffective
- high cost
slack fill
putting less product in package while keeping container size the same but raising the price (toilet paper, candy, cereal)
Federal Trade Commission
protect the public from deceptive or unfair business practices and unfair methods of competition through law enforcement.
Advocacy, research, and education
3 major FTC activities
- prevent unfair methods of competition and anti competitive pricing
- protect consumers from unfair or deceptive acts/practices
- administers consumer protection laws
