MAR3400 FSU EXAM 1 QUESTIONS AND ANSWERS
WITH COMPLETE SOLUTIONS GRADED A++ LATEST
UPDATE
What are ethics?
Ethics are the principles governing behavior of an individual or a group. These
principles establish appropriate behavior, indicating what is right and wrong
What are things that set the standard of ethics?
Companies, society, media, legislator
Persuasion vs. Manipulation
When we are manipulating we are constraining their choice
Gifts vs. bribes
Bribes are used expecting something out of it. In order to distinguish between the two,
express your intent to the customer
Entertainment
Nothing physical- Ex: taking potential clients on vacation for face-time
Special treatment
Ex: Doing favors for new clients, can backfire
Confidential information
Never discuss confidential info of clients
Backdoor selling
, Salesmen will get information that will put their client in a bad situation, they then use
that as leverage in business negotiations
Statutory laws
State legislatures or US congress creates statutes which forms statutory laws
Administrative law
There are many agencies that create administrative laws. Some can be governmental,
others non-governmental.
Common law
Arises out of court decisions
Expressed warranty
Clearly stated
Implied warranty
Not stated but something that would be a reasonable expectation
What is the Uniform Commercial Code (UCC)?
A legal guide to commercial practice here in this country.
What is an agent?
Someone who acts in place of their company. Their actions are the companies actions
T/F: Oral and written contracts can be binding
True
What is reciprocity?
The idea of "ill scratch your back if you scratch mine", or "ill buy some products from
your company if you'll buy some from mine." not illegal. Only illegal if its forced
What are tying agreements?
WITH COMPLETE SOLUTIONS GRADED A++ LATEST
UPDATE
What are ethics?
Ethics are the principles governing behavior of an individual or a group. These
principles establish appropriate behavior, indicating what is right and wrong
What are things that set the standard of ethics?
Companies, society, media, legislator
Persuasion vs. Manipulation
When we are manipulating we are constraining their choice
Gifts vs. bribes
Bribes are used expecting something out of it. In order to distinguish between the two,
express your intent to the customer
Entertainment
Nothing physical- Ex: taking potential clients on vacation for face-time
Special treatment
Ex: Doing favors for new clients, can backfire
Confidential information
Never discuss confidential info of clients
Backdoor selling
, Salesmen will get information that will put their client in a bad situation, they then use
that as leverage in business negotiations
Statutory laws
State legislatures or US congress creates statutes which forms statutory laws
Administrative law
There are many agencies that create administrative laws. Some can be governmental,
others non-governmental.
Common law
Arises out of court decisions
Expressed warranty
Clearly stated
Implied warranty
Not stated but something that would be a reasonable expectation
What is the Uniform Commercial Code (UCC)?
A legal guide to commercial practice here in this country.
What is an agent?
Someone who acts in place of their company. Their actions are the companies actions
T/F: Oral and written contracts can be binding
True
What is reciprocity?
The idea of "ill scratch your back if you scratch mine", or "ill buy some products from
your company if you'll buy some from mine." not illegal. Only illegal if its forced
What are tying agreements?
