Maori Business Flashcards
(18 cards)
Whanaungatanga
social relationships between people
Manaakitanga
looking after the mana
Kaitiakitanga
guardianship of the environment
Wairuatanga
spirit of people
Tikanga
the way we make decisions
CSR
Corporate social responsability
a company should play a positive role in the community and consider the environmental and social impact of business decisions.
Friedman Doctrine
One responsibility of business - use resources and encourage activities that will increase profits so long as it stays within the rules of the game.
Anglo-American Model
The idea that a businesses focus should be to maximise the value of its shareholders. Includes concepts of shareholder primacy and agency theory.
Causing them to be careless of the stakeholder and environment
Shareholder Primacy
Shareholders owns the firm and holds managerial roles to ensure maximised economic returns
Agency Theory
Promotes same idea as Shareholder Primacy but additionally board of directors elected to ensure firms goals are in the owners best interest
Combination of Shareholder Primacy and Agency Theory encourage…
Parochial, capitalism focus of profit maximisation
Capitalism
Creates an economic system in which the majority of production and distribution are in private hands creating a “profit” or “market” system. A small portion of society owns the bulk of the wealth and uses this wealth to generate even more wealth.
Characteristics of indigenous economy are…
- The philosophical space driving economic activity is associated with the respective indigenous worldview
- An approach that values the accumulation of sharing (equitable distribution of wealth)
The characteristics of an indigenous economy and Māori business values influence the…
Governance, structure and decision making of Māori organisations
Tohu Wines follows a…
A modern western business model but is based on Tikanga
Main value of Tohu Wines is…
Kaitaikitanga - guardianship of the environment
Social Responsibility
Economic, ethical, legal and discretionary expectations that society has of organisations
Social Enterprise is…
The formula for success - combining capitalism with “do-good” mentality
