Pt 1 & 2 (Ch 1 - 4)

Question 1

Society

Answer 1

Refers to human beings and to the social structures they collectively create

Question 2

Interactive social system

Answer 2

Together , society & business form this in which the actions of ea profoundly influence the other.

Question 3

Stakeholder theory of the firm

Answer 3

corporations serve a broad public purpose: to create value for the society. multiple obligations and ALL stakeholders interests must be taken into account

Question 4

General business system

Answer 4

intro in 40s, argues that all organisms are open to, and interact with, their external environments

Question 5

Ownership theory of the firm

Answer 5

Aka property or finance theory — firm is seen as the property of the owners. Shareholder’s interests are paramount & take precedence over the interest of others

Question 6

Stakeholder

Answer 6

refers to persons and groups that affect, or are affected by , an org’s decisions, policies and operations.

Question 7

Stakeholder analysis

Answer 7

to identify relevant stakeholders and to understand both their interests and the power they may have to assert these interests

Question 8

Stakeholder coalitions

Answer 8

when interests are similiar, stakeholders may form coalitions, temporary alliances to pursue a common interest

Question 9

Stakeholder dialogue

Answer 9

A business and its stakeholders come together for face-to-face conversations about issues of common concern

Question 10

Stakeholder engagement

Answer 10

the process of ongoing relationship building between a business and its stakeholders

Question 11

Stakeholder interests

Answer 11

the nature of ea group’s stake

Question 12

market Stakeholder

Answer 12

aka primary stakeholders —- those that engage in economic transactions w/the company

Question 13

Stakeholder power

Answer 13

examples: voting, economic, political & legal power. the ability to use resources to make an event happen or to secure a desired outcome.

Question 14

Business

Answer 14

Org that are engaged in making a profit or providing a service for a profit

Question 15

Boundary-spanning dept

Answer 15

depts w/in the org that reach across the dividing line that separates the company from groups and people in society

Question 16

competitive intelligence

Answer 16

systematic & continuous process of gathering, analyzing managing info about its competitor

Question 17

environmental analysis

Answer 17

provides managers w/the info about external issues and trends that enables an org to develop a strategy that minimizes threats and takes adv of new opportunities

Question 18

environmental intelligence

Answer 18

the acquisition of info gained from analyzing the multiple environments affecting organizations

Question 19

issue identification

Answer 19

involves anticipating emerging concerns — through media, expert views, legislature

Question 20

issue management

Answer 20

a structured and systematic process to aid org in identifying, monitoring, and selecting public issues that warrant organizational action

Question 21

issue management process

Answer 21

issue identification, issue analysis, policy options, program design, results

Question 22

performance expectations gap

Answer 22

what the firm wants to do or is doing and what stakeholders expect

Question 23

public affairs management

Answer 23

a

Question 24

public issue

Answer 24

an issue that is of mutual concern to an org and one or more of the org’s stakeholders

Question 25

charity principle

Answer 25

an idea that the wealthiest members of society should be charitable toward the less fortunate

Question 26

corporate social responsibility

Answer 26

CSR - corp should be held accountable for any of its actions that affect people, their communities, and the environment

Question 27

enlightened self interest

Answer 27

the company's self-interest in the long term to provide true value to its customers, to help its employees to grow, and to behave responsibly as a corporate citizen

Question 28

iron law of responsibility

Answer 28

says that in the long run, those who do not use power in ways that society considers responsible will tend to lose it

Question 29

legal obligations

Answer 29

as a member of society , the firm must abide by the laws and regulations governing the society

Question 30

stewardship principle

Answer 30

believe they have an obligation to see that everyone -- particularly those in need or at risk --- benefits from their firm's actions. Managers are in the position of public trust

Question 31

balanced scorecard

Answer 31

CSR: focused on a set of key financial and nonfinancial indicators w/4 quadrants: people and knowledge, internal, customer and financial

Question 32

citizenship profile

Answer 32

a

Question 33

corporate citizenship

Answer 33

90s --- it entails proactively building stakeholder partnerships, discovering business opportunities in serving society and transforming a concern for financial performance into a vision of integrated financial and social performance

Question 34

department of corporate citizenship

Answer 34

a

Question 35

global corporate citizenship

Answer 35

the process of identifying, analyzing, and responding to the company's social, political, and economic responsibilities as defined thru law and public policy, stakeholder expectations, and voluntary acts flowing from corporate values and business strategies

Question 36

social & environmental reports

Answer 36

a

Question 37

social performance audit

Answer 37

a systematic evaluation of an org's social, ethical and environmental performance.

Question 38

transparency

Answer 38

clear public reporting of an org's performance to various stakeholders, includes social and environmental data

Question 39

triple bottom line

Answer 39

CSR: incorporated into the financials are social and environmental impacts

Question 40

nonmarket stakeholders

Answer 40

people & groups who --- although they do not engage in direct economic exchange w/the firm --- are nonetheless affected by or can affect its action