Business Ethics in Selling

 The set of moral principles by which people conduct themselves personally, socially, or professionally  Business Ethics: A set of laws about how a business should conduct itself  Businesses have some legal responsibilities to do what is right for society’s welfare  Can a business behave unethically and still operate within the law?  Can poor ethics effect business? Ethics Defined

1. Ethics and Professionalism: I will act with the highest degree of professionalism, ethics, and integrity. 2. Representation of Facts: I will fairly represent the benefits of my products and services. 3. Confidentiality: I will keep information about my customers confidential. 4. Conflicts of Interest: I will disclose potential conflicts of interest to all relevant parties and, whenever possible, resolve conflicts before they become a problem. 5. Responsibility to Clients: I will act in the best interest of my clients, striving to present products and services that satisfy my customers’ needs. National Association of Sales Professionals Standards of Professional Conduct

6. Responsibility to Employer: I will represent my employer in a professional manner and respect my employer’s proprietary information. 7. Responsibility to NASP Members: I will share my lessons of experience with fellow NASP members and promote the interests of NASP. 8. Responsibility to the Community: I will serve as a model of good citizenship and be vigilant to the effects of my products and services on my community. 9. Continuing Education: I will maintain an ongoing program of professional development. 10. Laws: I will observe and obey all laws that affect my products, services, and profession. National Association of Sales Professionals Standards of Professional Conduct (Cont’d)

 The most important aspect of business ethics in selling is keeping the product or service at the root of the sale  Don’t get caught up in any of the following to close a sale:  Lying/bending the truth;  Gifts or bribes;  “Negative” selling;  Bragging about information that should be kept confidential;  Etc. Core of Selling Ethics

 You sell life insurance. A middle age man walks in your office who you learn recently had a good friend pass away, leaving the friend’s family in financial ruin. The event scared your customer and he wants to buy the most expensive life insurance policy you have. After briefly reviewing his situation you realize that, although you could easily sell the most expensive policy and he would be happy with it, it far surpasses his needs. What do you do? Ethical Dilemma