AMA Code of Ethics

Honesty

As stated by the AMA Code of Ethics, here are the guidelines under the heading Honesty:

• Strive to be truthful in all situations and at all times.
• Offer products of value that do what we claim in our communications.
• Stand behind our products if they fail to deliver their claimed benefits.
• Honor our explicit and implicit commitments and promises.

I believe honesty is the number one attribute that companies should practice. It is impossible for a dishonest organization to succeed in today's culture. As a consumer, I have a zero-tolerance policy when it comes to this issue. If I believe a company is being dishonest with me, I drop them like 4th period French. Also, I do not believe I am alone in this thinking. The most important of the four guidelines state that companies should be honest when it comes to product descriptions, and when products fail to meet these descriptions, they take care of it. In other words, if a product does not fulfill customer expectations, necessary action must take place (i.e. product repair or refund).

Respect

The following are the guidelines found under the heading Respect:

• Value individual differences and avoid stereotyping customers or depicting demographic groups (e.g., gender, race, sexual orientation) in a negative or dehumanizing way.
• Listen to the needs of customers and make all reasonable efforts to monitor and improve their satisfaction on an ongoing basis.
• Make every effort to understand and respectfully treat buyers, suppliers, intermediaries and distributors from all cultures.
• Acknowledge the contributions of others, such as consultants, employees and coworkers, to marketing endeavors.
• Treat everyone, including our competitors, as we would wish to be treated.

Respect is the second most important quality for an organization to possess. A company that has an outstanding product might see little or no success if they show a genuine lack of respect toward their stakeholders. This comes into play most often with a company's customer service department. Some people are so sensitive to bad customer service that a single negative experience can cut them off from the company for the rest of their lives. That is why it is so important to handle every customer issue with delicacy. One way to do this is to not outsource customer service to a call center in India. It may save you money, but I guarantee it will cost you customers.

Respect moves beyond customer service. It is very important throughout the human resources department and how employees are dealt with. You do not want to get a reputation for being a terrible place to work. It is difficult to succeed once this reputation is in place. Avoid this by showing employees respect when they are doing well and when they are struggling. If you have to let someone go, do it respectfully. Do not make a scene out of it or shame them publicly. In the end, this will be bad for business.

Transparency

The following are the guidelines found under the heading Transparency:

• Strive to communicate clearly with all constituencies.
• Accept constructive criticism from customers and other stakeholders.
• Explain and take appropriate action regarding significant product or service risks, component substitutions or other foreseeable eventualities that could affect customers or their perception of the purchase decision.
• Disclose list prices and terms of financing as well as available price deals and adjustments.

The third most important trait for a business to have is transparency. This means not hiding anything, within reason, from the general public. This does not mean broadcasting an employee dispute over Facebook. What this means is do not act in a shady way when it comes to your product or service. If it has just been discovered that your product is a danger to one's health, do not hide that information hoping it goes away. In the case of something like cigarettes, that fact is already known. But in the case of car companies, such as the Ford Pinto fiasco, vehicle defects may be discovered after the car is already on the market. Do not hide this information hoping it will go away on its own. Chances are, it will come back to bite you. Be transparent about product information and consumers will thank you for it.