Is self-regulation an effective way to control and maintain good marketing practices? Self-regulation is the act of controlling operations and practices in order to adhere to laws and regulations without the interference or directives of external parties or organizations. Although it is more realistic because organizations oversee regulation based on their goals and standards, I believe it not the best way to control operations and practices. Self-regulation is not reliable. There is no way of supervising or monitoring the organization if operations and practices are being implemented accordingly.
If organizations implement self-regulation strategies and techniques, how can the government or consumers know that these organizations are playing fairly and are following rules and regulations properly? The organization’s influence could be a means of propelling regulation standards or policies for its interests and personal gain. For instances, self-regulation might frame marketing practices deceivingly because the organization is involved in planning and formulation regulation standards and guidelines.
Government regulation is still the best way to control and maintain good and fair marketing practices because government bodies are able to monitor and supervise organizational processes and operations to check whether regulation guidelines are being met. Question 2 - Can ethics be taught? Ethics, in the organizational setting, can be taught in order to promote integrity and establish trust relationships with partners, consumers, and other stakeholders. Organizational ethics talk about honorable and principled policies and views based on what is morally right or wrong.
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Although not everyone in the organization are expected to understand the principles of morality, ethics can be taught to all members of the organization through establishing sound relationships to facilitate open communication, implementing training programs, setting rules and regulations, code of ethics, and other ethical standards or guidelines that all members of the organization must comply with. In this way, the concept of organizational ethics becomes a way of life in the business setting and working environment that familiarizes members of the organization about the principles of morally good way of thinking, operations, and practices.
Moreover, ethical laws and principles must be consistently practiced within the organization. Organizational leaders and the management should be unswerving in implementing and practicing ethical laws and principles because employees look up to them. Regular ethics programs or seminars will enhance the knowledge of members of the organization about principles that are morally good and wrong. This knowledge will help them make proper ethical decisions in the future.
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