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Lecture Business and society: Stakeholders, ethics, public policy: Chapter 15 - Anne Lawrence, James Weber

Chapter 15 - Consumer protection. After studying this chapter you will be able to: Analyzing the reasons for consumer advocacy and the methods consumer organizations use to advance their interests, knowing the five major rights of consumers, assessing the ways in which government regulatory agencies protect consumers and what kinds of products are most likely to be regulated,. | Chapter 15 Consumer Protection Copyright © 2014 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin Ch. 15: Key Learning Objectives Analyzing the reasons for consumer advocacy and the methods consumer organizations use to advance their interests Knowing the five major rights of consumers Assessing the ways in which government regulatory agencies protect consumers and what kinds of products are most likely to be regulated Determining how consumer privacy online can best be protected Examining how the courts protect consumers and efforts by businesses to change product liability laws Evaluating how socially responsible corporations can proactively respond to consumer needs 15- Advocacy for Consumer Interests As long as business has existed—consumers have tried to protect their interests when they go to the marketplace to buy goods and services Consumerism/consumer movement – the organized group activates collective efforts by consumers in many countries to | Chapter 15 Consumer Protection Copyright © 2014 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin Ch. 15: Key Learning Objectives Analyzing the reasons for consumer advocacy and the methods consumer organizations use to advance their interests Knowing the five major rights of consumers Assessing the ways in which government regulatory agencies protect consumers and what kinds of products are most likely to be regulated Determining how consumer privacy online can best be protected Examining how the courts protect consumers and efforts by businesses to change product liability laws Evaluating how socially responsible corporations can proactively respond to consumer needs 15- Advocacy for Consumer Interests As long as business has existed—consumers have tried to protect their interests when they go to the marketplace to buy goods and services Consumerism/consumer movement – the organized group activates collective efforts by consumers in many countries to safeguard their own rights Examples of U.S. advocacy organizations include Consumer Federation of America, National Consumers League, and the American Association for Retired People 15- Reasons for Consumer Movement Complex products have enormously complicated the choices consumers need to make when they go shopping Services, as well as products, have become more specialized and difficult to judge When businesses try to sell both products and services through advertising, claims may be inflated or they may appeal to emotions Technology has permitted businesses to learn more than ever about their customers—potentially violating their privacy Some businesses have ignored product safety 15- Rights of Consumers The right to be informed Protection against misleading advertising, labeling; given the facts to make an informed purchasing decision The right to safety Protection against the marketing of good that are hazardous to health or life The right to choose Assurance of access to