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Flashcards in Chapter 3 Notes Deck (45)
1

What is the triple bottom line?

People, Planet and Profit

2

What does triple bottom line measure?

Social, Environental, and Financial Performance

3

a systematic assessment of a company's performance in implementing socially responsible programs, often based on predefined goals.

Social Audit

4

Born 1977-1989

Generation Y

5

Born 1990-2000

Generation Z

6

the people whose interests are affected by an organization's activities.

Stakeholders

7

Who are the Internal Stakeholders?

Employees, Owners and Board of Directors

8

What are External Stakeholders?

General and Task Environment

9

consist of all those who can claim an organization as their legal property

Owner

10

A company that is half owned by employees

Joint Owners

11

Who elects the board of directors?

Stockholders

12

Who's in charge of setting the organization's strategic goals and approving major decisions of salaries of top management?

Board of Directors

13

organizations that COMPETE for customers or resources

Competitors

14

person or an organization that PROVIDES supplies—that is, raw materials, services, equipment, labor, or energy—to other organizations

Suppliers

15

a person or an organization that HELPS another organization SELL its goods and services to customers.

Distributor

16

describes the relationship of two organizations who JOIN FORCES to achieve advantages neither can perform as well alone.

Strategic Allies

17

Taking back the tax breaks when firms don't deliver promised jobs

Clawback

18

raising money for a project or venture by obtaining many small amounts of money from many people

Crowdfunding

19

REGULATORY agencies that establish ground rules under which organizations may operate

Government regulators

20

GROUPS whose members try to influence specific issues

Special-interest groups

21

consist of the GENERAL ECONOMIC CONDITIONS and trends—unemployment, inflation, interest rates, economic growth—that may affect an organization's performance.

Economic forces

22

NEW developments in methods for transforming resources into goods or services.

Technological Forces

23

Current trends that can affect an organization

Sociocultural Forces

24

influences on an organization arising from changes in the characteristics of a population, such as age, gender, or ethnic origin

Demographic Forces

25

changes in the way POLITICS shape laws and laws shape the opportunities for and threats to an organization.

Political-Legal Forces

26

changes in the economic, political, legal, and technological global system that may affect an organization.

International Forces

27

situation in which you have to decide whether to pursue an action that benefit you or your organization but that is unethical or illegal.

Ethical Dilemma

28

pattern of values in an organization

Value System

29

relatively permanent and deeply held underlying beliefs and attitudes that help determine a person's behavior

Values

30

guided by what will result in the GREATEST GOOD for the GREATEST NUMBER of people

Utilitarian Approach

31

guided by what will result in the INDIVIDUAL's best long-term interests, which ultimately are in everyone's self-interest

Individual Approach

32

guided by respect for the fundamental rights of human beings

Moral-Rights approach

33

guided by respect for impartial standards of FAIRNESS and EQUITY

Justice Approach

34

illegal trading of a company's stock by people using confidential company information

Insider Trading

35

3 Levels of personal moral development

Preconventional, Conventional, Post Conventional

36

Follows rules

Preconventional

37

Follow expectations of others

Conventional

38

Guided by internal values

Postconventional

39

represents employees' perceptions about the extent to which work environments support ethical behavior

Ethical Climate

40

consists of a formal written set of ethical standards guiding an organization's actions.

Code of Ethics

41

employee, or even an outside consultant, who reports organizational misconduct to the public

Whistle-blower

42

manager's duty to take actions that will benefit the interests of society as well as of the organization

Social Responsibility

43

notion that corporations are expected to go above and beyond following the law and making a profit

Corporate social responsibility

44

value of natural resources, such as topsoil, air, water, and genetic diversity, which humans depend on

Natural capital

45

system of governing a company so that the interests of corporate owners and other stakeholders are protected

corporate governance