{ "@context": "https://schema.org", "@type": "Organization", "name": "Brainscape", "url": "https://www.brainscape.com/", "logo": "https://www.brainscape.com/pks/images/cms/public-views/shared/Brainscape-logo-c4e172b280b4616f7fda.svg", "sameAs": [ "https://www.facebook.com/Brainscape", "https://x.com/brainscape", "https://www.linkedin.com/company/brainscape", "https://www.instagram.com/brainscape/", "https://www.tiktok.com/@brainscapeu", "https://www.pinterest.com/brainscape/", "https://www.youtube.com/@BrainscapeNY" ], "contactPoint": { "@type": "ContactPoint", "telephone": "(929) 334-4005", "contactType": "customer service", "availableLanguage": ["English"] }, "founder": { "@type": "Person", "name": "Andrew Cohen" }, "description": "Brainscape’s spaced repetition system is proven to DOUBLE learning results! Find, make, and study flashcards online or in our mobile app. Serious learners only.", "address": { "@type": "PostalAddress", "streetAddress": "159 W 25th St, Ste 517", "addressLocality": "New York", "addressRegion": "NY", "postalCode": "10001", "addressCountry": "USA" } }
Brainscape's Knowledge GenomeTM


Top Flashcards (Certified)
All Flashcards

BUS111 > Final Exam Revision > Flashcards

Final Exam Revision Flashcards

(82 cards)

Start Studying
1
Q

What is the Stakeholder Model?

A

Model stating business activities affect stakeholders including primary (e.g., customers, employees, communities) and secondary (e.g., future generations, political parties, suppliers).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

What is the Macroenvironment?

A

The total environment outside the firm; the societal context in which an organization resides.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

What is Capitalism?

A

An economic system where production and distribution are in private hands operating for profit in a free market system.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

What are the Key Features of Capitalism?

A

Creation of companies as entities separate from individuals; assumes humans are economically motivated by self-interest.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

What are the Seven Pillars of Capitalism?

A

Competition, invisible hand, utility, agency theory, pricing, shareholder value, limited liability.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

What is Adam Smith’s Invisible Hand?

A

Idea that self-interest-driven business activities will lead to social benefits.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

What is Agency Theory?

A

Assumes shareholders’ and managers’ goals are misaligned and need aligning.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

What is Limited Liability?

A

Financial loss is limited to the amount invested in a business.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

What is Ethnocentrism?

A

Belief that one’s own culture is correct while others are wrong or misguided.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

What is the Ethnocentrism Fallacy?

A

Assumes other cultures’ values are mistakes rather than differences.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

What is the Relativist Fallacy?

A

Belief that no values or behaviors are objectively wrong.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

What is Consumer Behavior?

A

Actions, reactions, and consequences during consumer decision-making and product use.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

What is Ideology?

A

A structured set of ideas shaping how individuals and groups perceive reality.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

What is Dominant Ideology?

A

The norm accepted by most within a society.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

What is Subordinate Ideology?

A

Opposes the dominant but doesn’t seek to change it.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

What is Radical Ideology?

A

Directly challenges and seeks to overturn the dominant ideology.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

What is Hegemony?

A

Predominance or control of one state or group over others without overt force.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

What are the Sustainable Development Goals (SDGs)?

A

Whole-society efforts in the Anthropocene era to address human impact on climate and environment.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

What is the Anthropocene?

A

A geological age defined by significant human influence on the environment and climate.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

What is Corporate Social Responsibility (CSR)?

A

Voluntary business actions beyond legal compliance to benefit society and business interests.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

What is Triple Bottom Line Reporting?

A

People, Planet Profit. Organizational reporting considering social, environmental, and economic impacts.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

What is the Global Reporting Initiative (GRI)?

A

Non-profit focusing on environmental sustainability and community development.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

What is the Fonterra CSR Case?

A

Company improved image via school milk campaign following expired powder scandal in China; blurs CSR and commercial motivation.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

What is The Social Contract?

A

Mutual expectations between business and society balancing freedoms and protections.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
What is the Internet Service Example?
US legislative effort allowing censorship of websites, challenging freedom.
26
What is The Friedman Doctrine?
Business should maximize profit while staying within legal and ethical boundaries.
27
What is System Theory?
All external elements can affect the organization; interconnectedness.
28
What are Ethical Frameworks?
Includes Utilitarianism, Individualism, Moral Rights, and Justice approaches to decision-making.
29
What is a Pluralistic Society?
Decision-making involves government and non-government actors preventing concentration of power.
30
What are Consumer-Centric Markets?
Markets shaped by consumer purpose and participation; contrast to transactional models.
31
What is a Transactional Market?
Product-driven with minimal consumer interaction; 'market of millions'.
32
What is a Relational Market?
Consumer-driven with deep engagement; 'millions of markets'.
33
What are Consumer Boycotts?
When consumers refuse to buy products from a specific firm. Increasingly common and driven more by social issues than price.
34
What are Brand Communities?
Groups formed around shared attachment to a brand (e.g., Nike, Lego).
35
What is Social Business?
Businesses focused on both profit and positive social impact.
36
What is the Health of a Nation (GDP)?
GDP is dominant welfare metric but has limitations; alternative indicators explored.
37
What are Greek Views of Wellbeing?
Hedonic (pleasure-seeking) vs. Eudaimonic (meaning and self-realization) approaches.
38
What is GNH (Gross National Happiness)?
Alternative national welfare indicator focusing on happiness and wellbeing.
39
What is HDI (Human Development Index)?
Measure combining life expectancy, education, and per capita income.
40
What is Maslow’s Hierarchy of Needs?
A motivational theory describing five levels of human needs from basic to self-actualization.
41
What is Governance?
How an organization is directed and controlled, including stakeholder roles and responsibilities.
42
What is the Enron Case?
Major corporate failure due to hidden debt and lack of board accountability.
43
What is the Health and Safety Work Act (HSWA)?
New Zealand legislation holding organizations accountable for workplace health and safety.
44
What is Workforce Diversity?
Valuing diverse backgrounds in hiring and training; fosters innovation and broader perspectives.
45
What was the New Zealand Tariff Policy (Colonial Era)?
Used tariffs and licenses to block international competition.
46
What is Rogernomics?
1980s NZ reforms involving deregulation, privatization, and removal of market controls.
47
What are the Effects of Rogernomics?
Increased unemployment, showed government's critical welfare role, and shifted NZ to global trade.
48
What is NZ Trade Policy (1990s Onward)?
Tariff elimination, economic integration with Australia, and participation in global agreements like the TPP.
49
What does whānaungatanga mean in the context of Māori values in business?
Whānaungatanga refers to relationships and the importance of kinship and connection in business.
50
What is the meaning of manaakitanga in Māori business values?
Manaakitanga means hospitality and care, emphasizing respect and support for others.
51
Define kaitiakitanga as a Māori business value.
Kaitiakitanga means guardianship of resources, reflecting stewardship and sustainability.
52
What does kotahitanga represent in Māori business culture?
Kotahitanga represents unity and collective action within the business and community.
53
What is the significance of tino rangatiratanga in Māori business values?
Tino rangatiratanga means self-determination and the ability to manage one’s own affairs.
54
What does Mauri Ora represent as a strength in Māori business?
Mauri Ora means creating wellbeing and nurturing holistic health.
55
How is Whānaungatanga a strength in the workplace?
Whānaungatanga involves having a family-based approach to work and fostering strong relationships.
56
What does Tangata Whakapapa emphasize as a business strength?
Tangata Whakapapa embraces the wholeness of people, acknowledging their identity and background.
57
What is the role of Hūmārie as a strength in business practice?
Hūmārie means practicing humility, showing respect and modesty in interactions.
58
How does Tuākana-Teina function as a strength in Māori business culture?
Tuākana-Teina refers to creating effective succession through mentoring relationships.
59
What is strategic management?
The process of defining purpose and positioning a firm for success in its market.
60
What is corporate public policy?
A company’s strategy for handling public issues, laws, and societal expectations—includes lobbying, compliance, CSR, and ESG efforts.
61
What are business core values?
Fundamental principles that guide a company’s behavior, decisions, and culture (e.g., integrity, accountability, innovation).
62
What is a key characteristic of complex problems involving institutional silos and multiple scales?
Fragmentation—causing coordination challenges due to divided responsibilities, conflicting goals, and poor information flow.
63
Who are the typical stakeholders involved in addressing complex societal problems?
Multiple government agencies, businesses, NGOs, communities, and individuals with a stake in the issue.
64
What challenge arises from the involvement of diverse stakeholders in complex problems?
There are multiple ways of framing the problem, different knowledge sets, and competing values across economic, environmental, social, and cultural criteria.
65
What social and political factors often complicate complex problem-solving?
Conflict, power relations, and vested interests.
66
What is a key uncertainty in addressing complex, multi-stakeholder issues?
Uncertainty about the possible effects of action.
67
What is a system?
A system is a whole made up of parts whose functions depend on how those parts interact with each other.
68
Why is talking about diversity important?
It addresses inequality and promotes equity, inclusion, and respect for all.
69
How does diversity benefit society?
It brings different perspectives and ideas, helping us learn, collaborate, and solve problems together.
70
What is the impact of embracing diversity?
It breaks down barriers and builds a more inclusive, harmonious society with equal opportunities.
71
What are stereotypes?
A set of cognitive generalizations (e.g., beliefs, expectations) about the qualities and characteristics of the members of a group or social category.
72
What is globalisation?
A process in which consumers, organisations and governments are increasingly interconnected across national borders
73
What is the Hyperglobalist Perspective on globalization?
Globalization is seen as an unstoppable, positive force driven by markets, technology, and global institutions that are eroding the power of nation-states.
74
Key features of the Hyperglobalist Perspective?
Borderless economy, decline of state sovereignty, dominance of neoliberalism, rise of global governance through institutions like WTO and IMF.
75
What is the Skeptical Perspective on globalization?
Argues that globalization is exaggerated or a myth; emphasizes the continuing dominance of nation-states and regional blocs over global integration.
76
Key features of the Sceptical Perspective?
Globalization benefits elites, not the masses; regionalization is stronger than globalization; state power remains central; inequality persists.
77
What is the Transformationalist Perspective on globalization?
Globalization is real but non-linear, producing profound and unpredictable changes in societies, economies, and politics without eliminating nation-states.
78
Key features of the Transformationalist Perspective?
Globalization transforms state power and identity, involves multidirectional and hybrid changes, and redefines rather than erodes sovereignty.
79
What does 'Structure' mean in System Dynamics?
The framework of global systems—states, markets, and institutions—through which interactions occur.
80
What does 'Content' mean in System Dynamics?
The actual processes within global systems, such as trade flows, cultural exchanges, and political norms.
81
What does System Dynamics explain in globalization studies?
How feedback loops, interdependencies, and dynamic relationships shape global transformation over time.
82
What is Te Ao Maori
The Maori worldview.

BUS111 (2 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2025 Bold Learning Solutions. Terms and Conditions