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Flashcards in Chapter 3 Deck (23):
1

Ethics

a set of moral standards for judging whether something is right or wrong

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component lifestyle

a lifestyle made up of a complex set of interests, needs, and choices

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demography

the study of people's vital statistics, such as their age, gender, race, and ethnicity, and location

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generation z

canadians born from the late 1990s onward

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generation y

canadians born between about 1977 and 1997

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generation x

canadians born between 1964 and about 1977

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baby boomers

canadians born between 1946 and 1964

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multiculturalism

the fundamental belief that all citizens are equal regardless of their racial or ethnic backgrounds

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social responsibility

the concern of businesses for the welfare of society as a whole; consists of obligations beyond those required by law or contracts

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neoliberalism

a set of economic policies that believes that the economy (and therefore social policy) should be market-driven, not government driven

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stakeholders

individuals, groups, or organizations to whom a business has a responsibility: employees, customers, suppliers, investors, and the general public

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social investing

the practice of limiting investments to securities of companies that act in accordance with the investor's beliefs about ethical and social responsibility

13

corporate philanthropy

the practice of charitable giving by corporations; includes contributing cash, donating equipment and products, and supporting the volunteer efforts of company employees

14

corporate governance

the way in which an organization is governed, directed, and administered

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utilitarianism

a philosophy that focuses on the consequences of an action to determine whether it is right or wrong, and holds that an action that affects the majority adversely is morally wrong

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canadian charter of rights and freedoms

legislation that guarantees the rights and freedoms of canadians

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justice

what is considered fair according to the prevailing standards of society; in the 21st century, an equitable distribution of the burdens and rewards that a society has to offer

18

preconventional ethics

a stage in the ethical development of individuals in which people behave in a childlike manner and make ethical decisions in a calculating, self-centered, selfish way, based on the possibility of immediate punishment or reward; also known as self-centered ethics

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conventional ethics

the second stage in the ethical development of individuals in which people move from an egocentric viewpoint to consider the expectations of an organization or society; also known as social ethics

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postconventional ethics

the third stage in the ethical development of individuals in which people adhere to the ethical standards of a mature adult and are less concerned about how others view their behavior than about how they will judge themselves in the long run; also known as principled ethics

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code of ethics

a set of guidelines prepared by a company to provide its employees with the knowledge of what the company expects in terms of their responsibilities and behavior toward fellow employees, customers, and suppliers

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whistleblower

an employee, a former employee, or and other member of an organization who reports misconduct by others in the organization to those who have the power to take corrective action

23

strategic giving

the practice of tying philanthropy closely to the corporate mission or goals and targeting donations to regions where a company operates