Milton Hershey, who had a strong ethical value system, founded Hershey Foods in the nineteenth century-always show integrity, honesty, and respect. Hershey felt it was important to provide high-quality goods and services of real value at competitive prices that provide an adequate return on investment. He founded the Milton Hershey School, operating today as a cost-free, private home and school dedicated to helping children with social needs and limited resources. The company also focuses on environmental issues, such as reducing waste by 360,000 pounds annually by redesigning Hershey's Syrup caps. Hershey Foods has an ethics compliance program that includes a code of ethics and training, guidelines for handling legal and ethical issues, an 800 number for assistance with ethical issues, and support from supervisors and human resource managers in dealing with ethical issues.
Discuss how Hershey Foods has applied the principles of socially responsible marketing. Also address in your discussion the benefits of having a formal code of ethics and what impact philanthropic and social responsibility has on a company.