Flashcards in Chapter 3 Notes Deck (45)
What is the triple bottom line?
People, Planet and Profit
What does triple bottom line measure?
Social, Environental, and Financial Performance
a systematic assessment of a company's performance in implementing socially responsible programs, often based on predefined goals.
the people whose interests are affected by an organization's activities.
Who are the Internal Stakeholders?
Employees, Owners and Board of Directors
What are External Stakeholders?
General and Task Environment
consist of all those who can claim an organization as their legal property
A company that is half owned by employees
Who elects the board of directors?
Who's in charge of setting the organization's strategic goals and approving major decisions of salaries of top management?
Board of Directors
organizations that COMPETE for customers or resources
person or an organization that PROVIDES supplies—that is, raw materials, services, equipment, labor, or energy—to other organizations
a person or an organization that HELPS another organization SELL its goods and services to customers.
describes the relationship of two organizations who JOIN FORCES to achieve advantages neither can perform as well alone.
Taking back the tax breaks when firms don't deliver promised jobs
raising money for a project or venture by obtaining many small amounts of money from many people
REGULATORY agencies that establish ground rules under which organizations may operate
GROUPS whose members try to influence specific issues
consist of the GENERAL ECONOMIC CONDITIONS and trends—unemployment, inflation, interest rates, economic growth—that may affect an organization's performance.
NEW developments in methods for transforming resources into goods or services.
Current trends that can affect an organization
influences on an organization arising from changes in the characteristics of a population, such as age, gender, or ethnic origin
changes in the way POLITICS shape laws and laws shape the opportunities for and threats to an organization.
changes in the economic, political, legal, and technological global system that may affect an organization.
situation in which you have to decide whether to pursue an action that benefit you or your organization but that is unethical or illegal.
pattern of values in an organization
relatively permanent and deeply held underlying beliefs and attitudes that help determine a person's behavior
guided by what will result in the GREATEST GOOD for the GREATEST NUMBER of people
guided by what will result in the INDIVIDUAL's best long-term interests, which ultimately are in everyone's self-interest
guided by respect for the fundamental rights of human beings
guided by respect for impartial standards of FAIRNESS and EQUITY
illegal trading of a company's stock by people using confidential company information
3 Levels of personal moral development
Preconventional, Conventional, Post Conventional
Follow expectations of others
Guided by internal values
represents employees' perceptions about the extent to which work environments support ethical behavior
consists of a formal written set of ethical standards guiding an organization's actions.
Code of Ethics
employee, or even an outside consultant, who reports organizational misconduct to the public
manager's duty to take actions that will benefit the interests of society as well as of the organization
notion that corporations are expected to go above and beyond following the law and making a profit
Corporate social responsibility
value of natural resources, such as topsoil, air, water, and genetic diversity, which humans depend on