Do Now to Turn In 12 min Who is a consumer? Give me an example. What are 2 rights of a consumer? What are 2 responsibilities of a consumer? What is the difference between rights and responsibilities? What is an impulse buyer? What are 2 characteristics of an efficient shopper? Provide one step in a decision making for a buyer?

Consumerism When buying items a consumer should consider: a business’ reputation, value of brand names, and the choices of store availability A good shopper/consumer takes time when making purchases, buys when prices are lowest, and avoids impulse buying through the use of shopping lists

Consumerism cont. Consumer rights: Be informed Safety Be heard Right to remedy/sue Consumer education Service

Consumerism cont. Consumer responsibilities: Be honest Be reasonable Be informed Be involved Report unethical practices

Consumerism cont. Decision Making Steps in Buying Identify your needs or wants Know the choices that are available to you (price, quality, location, variety) Determine the measure of satisfaction of your needs or wants Consider the alternatives Make your decision to buy

Consumerism cont. Efficient/Good Shopper/Consumer: Takes time when making purchases Buys when prices are lowest Avoids impulse buying by using a shopping lists

Consumerism cont. What is a brand? Give me an example? What is a clearance sale? What is a discount store? What is a specialty store? What is a convenience store? What is impulse buying?

Social Responsibility and Business Ethics Social Responsibility: the obligation of a business to contribute to the well-being of a community Social responsibility concerns are related to: Environmental protection Workplace Diversity Safety on the job Employee wellness What are examples of environmental protection, workplace diversity, safety on the job, and employee wellness?

Social Responsibility and Business Ethics cont. What are examples of environmental protection, workplace diversity, safety on the job, and employee wellness? Environmental protection: conservation, reduction of pollution Workplace diversity: removing barriers for women in the workplace, workforce should reflect groups in the community, workers should have same access to job programs Safety on the job: installing non-polluting safer equipment, building renovations to remove hazardous materials Ethics: are the principles of morality or rules of conduct Business Ethics: rules about how businesses and their employees ought to behave

Social Responsibility and Business Ethics cont. Code of Ethics: a statement of rules for guiding the behavior of employees or members of an organization How does an ethical decision differ from a social responsibility decision? An ethical business decision is based on a sense of morality and rules of conduct. A socially responsible decision is based on an understanding of what is good for the environment, the needs of the community, and the fair treatment of employees.