One foundation of new product ideas is competitors

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One foundation of new product ideas is competitors. Steven Fischer newly joined Frankie and Alex Specialty Products as a brand manager. His new boss said him we don't have a budget for new product development. We fair monitor our competitors' new product introductions as well as offer knockoffs of any that appearance like they will be successful.

1. Is this practice ethical?

2. Explain Does the AMA Statement of Ethics address this issue? Then write a brief paragraph on what the AMA Statement of Ethics contains that relates to knock-off products.

Reference no: EM1379244

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