Sustainable marketing based on virtue ethics: addressing socio-ecological challenges facing humankind
07 Jan 2021-Vol. 11, Iss: 1, pp 115-132
TL;DR: The Social and Ecological Thought (SET) marketing as discussed by the authors is an approach to sustainable marketing that is based on virtue ethics and aims to optimize social and ecological well-being while ensuring financial viability.
Abstract: It is generally accepted that the primary goal of marketing, even conventional sustainable marketing, is to enhance organizations’ financial well-being, a view that is consistent with mainstream utilitarian ethics. However, this profit-first focus often inadvertently contributes to socio-ecological problems and undermines the ability of marketing to adequately address resulting challenges. This paper presents an approach to sustainable marketing that we call Social and Ecological Thought (SET) marketing, which is based on virtue ethics and aims to optimize social and ecological well-being while ensuring financial viability. We describe implications of SET marketing for each of the 4 Ps in the marketing-mix paradigm—product, price, place, and promotion—and compare them to conventional views based on mainstream utilitarian ethics. SET marketing is relevant for the growing number of consumers and businesses that willingly forgo the maximization of financial well-being in order to optimize socio-ecological well-being. Implications for theory and practice are discussed.
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TL;DR: In this paper , an integrated framework based on the triplet of Hierarchical Clustering, Analytical Hierarchy Process and Best-Worst Method has been proposed and implemented in a leading furniture manufacturer in UAE.
Abstract: Nowadays, sustainability is one of the critical factors for the success of supply chains in organizations and firms that strive to maintain a competitive edge in the market. In wood industry, due to the need for integrating several business units such as forest entrepreneurs, carriers, pulp and paper mills and sawmills, such industries encounter various difficulties in maintaining effective supply chain collaborations. Literature on wood furniture industry seems to be lagging in terms of research on sustainable supply chain operations. To fill this gap, this study aims at identifying the critical factors that stand as a barrier between manufacturing and environmental sustainability in wood furniture industries. To achieve this aim, an integrated framework based on the triplet of Hierarchical Clustering, Analytical Hierarchy Process and Best-Worst Method has been proposed and implemented in a leading furniture manufacturer in UAE. The results show that waste management is the primary concern when an organization wants to pursue manufacturing environmental sustainability. Resources come in the second place where non-renewable resources should be substituted by renewable ones. The results were supported by a sensitivity analysis which confirms that higher attention should be directed to recycling of wood waste. Findings of this study provide recommendations to managers and decision makers on how to improve the manufacturing environmental sustainability in wood furniture industries to achieve the Triple Base Line (TBL) concept of sustainability and integrate sustainably in industry 4.0 context.
9 citations
24 Jun 2021
TL;DR: In this paper, the authors address the social and ecological thought (SET) framework based on virtue ethics and propose a more relevant alternative, the Environmental, Social and Governance (ESG) framework.
Abstract: This commentary addresses the Social and Ecological Thought (SET) framework based on virtue ethics (Dyck & Manchanda, in AMS Review, 2021). The basis of this framework is to replace utilitarian values that focus on profit maximization. The Financial Bottom Line (FBL) is believed to be a mainstream utilitarian philosophy. In addition, the Triple Bottom Line (TBL) is considered inadequate to address socio-ecological issues because there is a major focus on financial performance. After addressing some of the limitations in the SET framework, the Environmental, Social and Governance (ESG) framework is presented as a more relevant alternative. ESG provides a lens for creating priorities for socio-ecological comparative performance based on industry, investors’ and peer index scores. There is a strong correlation between ESG performance and profits. Compelling evidence is provided that suggests there is no conflict between socio-ecological responsibility and financial success.
5 citations
28 May 2021
TL;DR: In this paper, a review of Dyck and Manchanda's work on the use of virtue ethics, through Sociological and Ecological Thought (SET) Oriented Marketing, in tackling socio-ecological challenges within society is provided.
Abstract: This commentary provides a review of Dyck and Manchanda’s work on the use of virtue ethics, through Sociological and Ecological Thought (SET) Oriented Marketing, in tackling socio-ecological challenges within society. While we concur with the focus of the paper on moving away from a central emphasis on profit maximization, we differ in how we believe this can be achieved. We critique the SET approach put forward from three key positions: (a) the SET approach and the application of virtue ethics; (b) the SET approach and the use of the marketing mix to operationalize it in practice; and, (c) the missing systemic and institutional barriers which we believe render SET problematic both theoretically and in practical terms. We conclude by suggesting that instead of utilising normative ethical theories to address socio-ecological challenges marketing researchers turn to other perspectives, such as ecofeminism.
2 citations
TL;DR: This article investigated the five marketing categories relating to sustainable practices (sustainable marketing, social marketing, green marketing, sustainable consumption and ecological marketing) within core research themes of climate change, global warming and sustainability from a bibliometric approach using the Scopus API.
Abstract: Adaptation and mitigation to the adverse impacts of rising weather and climate extremes require businesses to respond with adequate marketing strategies promoting sustained economic development. Unfortunately, the connections exploring such relationships have not been extensively investigated in the current body of literature. This study investigated the five marketing categories relating to sustainable practices (sustainable marketing, social marketing, green marketing, sustainable consumption and ecological marketing) within core research themes of climate change, global warming and sustainability from a bibliometric approach using the Scopus API. Additional topic modelling was conducted using the Latent Dirichlet Allocation (LDA) unsupervised approach on downloaded abstracts to distinguish ideas communicated in time through research and publications with co-occurrences of major Intergovernmental Panel on Climate Change (IPCC) Assessment Reports and Google search queries. The results confirmed marketing strategies aligned with the theme of sustainability with little work from small developing island nations. Additionally, findings demonstrated that research exploring business strategies through green marketing directed to green consumers with sustainable supply chain management had been dominantly increasing in the literature over recent years. Similarly, social marketing associated with green consumers was a common concern for the public and academics, rising over the years with strong influence from the published IPCC Assessment Reports. This study did not explore other published databases, including climate change-related meeting transcripts and published speeches from corporate and world leaders.
2 citations
TL;DR: In this article , a qualitative display network technique based on the bibliometric methodology of co-citation analysis was applied to examine research clusters to explore the status quo regarding the interface between marketing, social and environmental issues, culture and consumers, and strategic management by integrating sustainability.
Abstract: This study explores the status quo regarding the interface between marketing, social and environmental issues, culture and consumers, and strategic management by integrating sustainability. A qualitative display network technique, based on the bibliometric methodology of co-citation analysis, was applied to examine research clusters. An integrative review was conducted to explain the connections within these clusters. To evaluate potential patterns among the studies through citations, different sets of relationships among applicable sustainability theories in marketing practice were paired in different sets and analyzed. After mapping the scientific structure of journal publications and intellectual linkages, six cluster groups emerged, reflecting the important role of marketing in linking sustainability, society, environment, consumers, and corporate sustainable development. This study contributes to social and marketing research and corporate sustainability practice by categorizing the intellectual structural network within various streams and indicating the influence of social and cultural notions on consumer-focused sustainable marketing.
References
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TL;DR: In this article, the authors examine three aspects of the stakeholder theory and critique and integrate important contributions to the literature related to each, concluding that the three aspects are mutually supportive and that the normative base of the theory-which includes the modern theory of property rights-is fundamental.
Abstract: ?The stakeholder theory has been advanced and justified in the management literature on the basis of its descriptive accuracy, instrumental power, and normative validity. These three aspects of the theory, although interrelated, are quite distinct; they involve different types of evidence and argument and have different implications. In this article, we examine these three aspects of the theory and critique and integrate important contributions to the literature related to each. We conclude that the three aspects of stakeholder theory are mutually supportive and that the normative base of the theory-which includes the modern theory of property rights-is fundamental. If the unity of the corporate body is real, then there is reality and not simply legal fiction in the proposition that the managers of the unit are fiduciaries for it and not merely for its individual members, that they are . . . trustees for an institution [with multiple constituents] rather than attorneys for the stockholders.
10,163 citations
01 Jan 2007
TL;DR: When I hear businessmen speak eloquently about the social responsibilities of business in a free-enterprise system, I am reminded of the wonderful line about the Frenchman who discovered at the age of 70 that he had been speaking prose all his life as mentioned in this paper.
Abstract: When I hear businessmen speak eloquently about the “social responsibilities of business in a free-enterprise system”, I am reminded of the wonderful line about the Frenchman who discovered at the age of 70 that he had been speaking prose all his life. The businessmen believe that they are defending free enterprise when they declaim that business is not concerned “merely” with profit but also with promoting desirable “social” ends; that business has a “social conscience” and takes seriously its responsibilities for providing employment, eliminating discrimination, avoiding pollution and whatever else may be the catchwords of the contemporary crop of reformers. In fact they are — or would be if they or anyone else took them seriously -preaching pure and unadulterated socialism. Businessmen who talk this way are unwitting puppets of the intellectual forces that have been undermining the basis of a free society these past decades.
9,875 citations
Book•
01 Jan 2000
TL;DR: In this paper, the authors discuss the critical role of marketing in organizations and society, and propose a set of strategies for the global marketplace, including direct marketing, sales-promotion, and public-relations.
Abstract: I. UNDERSTANDING MARKETING MANAGEMENT. 1. Understanding the Critical Role of Marketing in Organizations and Society. 2. Building Customer Satisfaction Through Quality, Service, and Value. 3. Laying the Groundwork Through Market-Oriented Strategic Planning. 4. Managing the Marketing Process and Marketing Planning. II. ANALYZING MARKETING OPPORTUNITIES. 5. Marketing Information Systems and Marketing Research. 6. Analyzing the Marketing Environment. 7. Analyzing Consumer Markets and Buyer Behavior. 8. Analyzing Business Markets and Business Buying Behavior. 9. Analyzing Industries and Competitors. III. RESEARCHING AND SELECTING TARGET MARKETS. 10. Measuring and Forecasting Market Demand. 11. Identifying Market Segments and Selecting Target Markets. IV. DEVELOPING MARKETING STRATEGIES. 12. Differentiating and Positioning the Market Offer. 13. Developing, Testing, and Launching New Products and Services. 14. Managing Product Life Cycles and Strategies. 15. Designing Marketing Strategies for Market Leaders, Challengers, Followers, and Nichers. 16. Designing Strategies for the Global Marketplace. V. PLANNING MARKETING PROGRAMS. 17. Managing Products Lines, Brands, and Packaging. 18. Managing Service Businesses and Ancillary Services. 19. Designing Pricing Strategies and Programs. 20. Selecting and Managing Marketing Channels. 21. Managing Retailing, Wholesaling, and Physical-Distribution Systems. 22. Designing Communication and Promotion-Mix Strategies. 23. Designing Effective Advertising Programs. 24. Designing Direct-Marketing, Sales-Promotion, and Public- Relations Programs. 25. Managing the Salesforce. VI. ORGANIZING, IMPLEMENTING, AND CONTROLLING MARKETING EFFORT. 26. Organizing and Implementing Marketing Programs. 27. Evaluating and Controlling Marketing Performance. Author Index. Company/Brand Index. Subject Index.
6,997 citations
TL;DR: In this paper, a natural resource-based view of the firm is proposed, which is composed of three interconnected strategies: pollution prevention, product stewardship, and sustainable development, and each of these strategies are advanced for each of them regarding key resource requirements and their contributions to sustained competitive advantage.
Abstract: Historically, management theory has ignored the constraints imposed by the biophysical (natural) environment. Building upon resource-based theory, this article attempts to fill this void by proposing a natural-resource-based view of the firm—a theory of competitive advantage based upon the firm's relationship to the natural environment. It is composed of three interconnected strategies: pollution prevention, product stewardship, and sustainable development. Propositions are advanced for each of these strategies regarding key resource requirements and their contributions to sustained competitive advantage.
5,339 citations
Book•
01 Sep 1998TL;DR: The seven revolutions for sustainable capitalism: competition, competition, triple win revolution, values from me to we revolution, information and transparency, no hiding place revolution, lifecylces from conception to resurrection revolution, partnerships after the honeymoon revolution, time three scenarios revolution, corporate governance, stake in the future, sustainability transition, value shifts, value migrations the worlds of money and power, sustainability audit, how are you placed.
Abstract: Introduction - is capitalism sustainable? seven revolutions for sustainable capitalism revolution 1 - competition - going for the triple win revolution 2 - values - from me to we revolution 3 - information and transparency - no hiding place revolution 4 - lifecylces - from conception to resurrection revolution 5 - partnerships - after the honeymoon revolution 6 - time - three scenarios revolution 7 - corporate governance - stake in the future the sustainability transition - value shifts, value migrations the worlds of money and power the sustainability audit - how are you placed?
5,329 citations