3 replies 2 references each

1-Transparency is probably one of the most important benefits of blockchain technology for the global supply chain. One of the biggest challenges facing firms as they invest in building their global supply chains is trusting that the various players in the chain will act as they have promised. The transparency associated with blockchain technology minimizes issues related to trust because all parties involved have real-time access to relevant information.

2-In business, financial necessities have been focused on over specific qualities like moral conduct and social duty. Disregarding propels in innovation, supply chain even at a worldwide level depends on the collaboration between individuals which leads to moral issues at a few phases of the interaction (Simangunsong, Hendry, & Stevenson, 2016). The justification such equivocalness in focusing on qualities is because of the way that companies are centered around containing cost. Cost has been the single main thrust behind the unscrupulous conduct of specific enterprises.

Supply chain does not only include moving of crude materials or items in a methodical stream to end in the conveyance of the last product. It includes collaboration of individuals at each progression leading to various issues. More often than not, we will in general fail to remember these connecting components and simply center around the end result.

Ethical issues are bound to the course of creation, yet in addition includes a few different layers of mediators, merchants and retailers till it at long last arrives at the consumer. In the system, there are various issues, that can be comprehensively partitioned into four classes: Business Ethics, Labor & Welfare, Health & Safety & Environment (Ferrell, 2016). One should take note of that the pass on any of these structures a significant danger or danger to the association and subsequently straightforwardly influencing its sustainability.

Prior to announcing the item ethically sourced and delivered, one necessities to think whether the previously mentioned issues are dealt with in genuine sense or not. With the world contracting step by step as far as distance and correspondence, one should concede that strategic policies can’t be proceeded in its customary or standard structure.

One needs to introspect and consider approaches to acquire supportability business by dealing with the moral issues in its inventory network instead of concocting a rationalization and tracking down a simpler and more limited break course. It may give an alleviation for a brief period however shockingly; the road would end soon, and the fall would eventually happen.

Reference:

Ferrell, Linda (2016) Ethics and Social Responsibility in Marketing Channels and Supply Chains: An Overview. Journal of Marketing Channels 23:1-2, pages 2-10.

Simangunsong, E., Hendry, L.C. and Stevenson, M. (2016), “Managing supply chain uncertainty with emerging ethical issues”, International Journal of Operations & Production Management,. https://doi.org/10.1108/IJOPM-12-2014-0599
3-Unscrupulous enterprises have come up with some inventive techniques to deceive their clients throughout history. Today, we are aware of a wide range of diverse forms that deceptive advertising may take. Keep in mind that this is not a complete list; organizations who wish to mislead customers always come up with new strategies to do it (Madhani, 2016). Furthermore, the strategies outlined below may not have legal meanings that are uniform across jurisdictions. These are, however, some of the most typical types of deceptive advertising that customers are likely to encounter.

Mislabeling

Because it encompasses a wide range of misleading actions, mislabeling is one of the most prevalent kinds of misleading advertising. Mislabeling can occur for a variety of reasons, including:

False or misleading information on a product’s packaging or in any kind of print or online advertisement.

Claiming to sell a product or service for a price that is never truly available for purchase.

Making misleading or fraudulent statements regarding a product’s production or provenance (Clement & Andersen, 2012).

False environmental claims, such as claiming a product is “recyclable” or “biodegradable” when no scientific data exists to support those claims.

Bait-and-Switch

Businesses will sometimes try to entice clients by promising unbelievable offers that aren’t true. It may constitute bait-and-switch misleading advertising if they advertise items or services at a certain price with no intention of ever selling them at that price.

Failure to Disclose

Sellers are required by law to inform customers if a product may impact or harm their health. This is especially crucial in marketing for alcohol and drugs, as advertisers must mention any potential health risks and negative effects (Madhani, 2016). It is against the law for vendors to withhold any knowing information about a product that might result in personal injury or property damage.

Product Disparagement and Trademark Infringement

Sellers might also get into problems if they try to promote their own items by comparing them to those of competitors. False advertising occurs when they make false statements criticizing a competitor’s identical product in order to make their own product appear superior.

Similarly, referencing a competitor’s goods by name or utilizing its picture in an advertisement may violate the competitor’s trademark, which is also illegal.

Companies will undoubtedly want to avoid this form of deceptive advertising. Have you ever heard the words “better than the top brand” in a commercial voiceover? Advertisers can use this method to compare their items to well-known competitors without breaking the law (Clement & Andersen, 2012).

Puffery

This is when determining if a company is utilizing misleading marketing strategies becomes more difficult. When firms advertise using inflated statements that cannot be shown to be accurate or incorrect, this is referred to as puffery.

These are often imprecise assertions, giving the company plausible deniability. For example, a restaurant may boast that it serves “the greatest burgers in the tri-state region!” Because “best burgers” is a subjective term, it is hard to verify or deny.

Puffery isn’t as likely to cause injury or financial loss as some of the other sorts of deceptive advertising on our list, but it’s still a sloppy marketing strategy — and unlawful, according to the FTC. However, most cases of puffery go unnoticed by the FTC or result in either a warning or a modest punishment. Because the likelihood of the FTC prosecuting corporations for this type of misleading advertising is minimal, it remains a frequent practice. It is beneficial for customers to be aware of this so that they can identify when corporations use puffery to inflate the quality of their goods and services. Those are the firms you should avoid doing business with.

Unscientific Claims

Everyone is familiar with Red Bull’s renowned slogan: It gives you wings!

But what was clearly intended to be a lighthearted campaign landed the energy drink behemoth in hot water — in 2014 (Wu, Lin, Chen, Hsu & Heish, 2019), Red Bull spent $13 million settling a class action lawsuit brought by people who challenged their claim, correctly pointing out that there was no scientific proof that Red Bull makes you fly.

This may not be the ideal illustration because most rational people recognize that Red Bull was not suggesting that their beverages will lead you to grow physical wings. However, the action highlights a crucial point: making scientific claims about a product that cannot be supported by facts is a violation of truth in advertising regulations.

False Reviews and Testimonials

Staying up late with the TV on in the late 1990s meant watching infomercials for workout equipment starring Arnold Schwarzenegger and Cindy Crawford (Madhani, 2016). The only problem was that, no matter how much they bragged about the fat-burning capabilities of whichever home gym they were promoting, those celebrities never used those items. The FTC eventually caught on, and today’s infomercials are far more transparent than they used to be.

Giving a review or a testimonial for a product you’ve never used is considered fraudulent advertising. Influencer marketing is a popular way for businesses to advertise their products in the internet era (Wu, Lin, Chen, Hsu & Heish, 2019). However, the influencers must genuinely test out the products, otherwise the advertisements may be illegal.

Hidden Fees

Consumers are probably all too acquainted with this type of deception. Companies may attempt to make their goods and services appear more enticing by not disclosing the entire price. However, it is illegal to exclude service costs, maintenance costs, and equipment prices from an advertisement or contract (Madhani, 2016).

Even adding such extra expenses in difficult-to-read tiny text might be deemed misleading advertising. Essentially, if you receive a bill that includes costs you did not anticipate, you may have a case with the FTC.

Reference

Clement, J., Andersen, M. S., & Katherine O’Doherty Jensen. (2012). Framework for understanding misleading information in daily shopping. Qualitative Market Research, 15(2), 110-127. doi:http://dx.doi.org/10.1108/13522751211215859

Madhani, P. M. (2016). Marketing ethics: Enhancing firm valuation and building competitive advantages. SCMS Journal of Indian Management, 13(3), 80-99. Retrieved from https://www.proquest.com/scholarly-journals/market…

Wu, S., Lin, S., Chen, G., Hsu, K., & Heish, L. (2019). Advertising information, advertising precision and resale price maintenance. The Journal of Applied Business and Economics, 21(2), 165-173. Retrieved from https://www.proquest.com/scholarly-journals/advert…