Quiz 6 Flashcards
(21 cards)
Stakeholders
parties who are affected by the business and its actions and who have an interest in what the business does and how it performs
Consumer Sovereignty
- Consumers dictate the type, quality, and quantity of goods and services to be provided
- Purchase decisions are a form of voting, expressing majority preferences
- Consumers have access to information to make informed choices without undue influence from producers or governments
- Economic systems are more efficient when consumers determine production
Consumer Sovereignty: Constraints
both governments and businesses seek to regulate decisions or presuade consumers
Consumerism
social movement to protect/augment rights of buyers with respect to sellers
Ethical consumerism
a form of activism where consumers buy products, goods, and services that are ethically produced and/or not harmful to the environment and society
Greenwashing
making token efforts to promote socially and environmentally friendly products
Business-to-business
one organization offers goods or services to another organization rather than to consumers
Localism
a social movement that supports economic practices oriented toward strengthening local economies and reducing reliance on non-local resources
Fair trade
a term commonly used to identify products that are involved with sustainability purchasing but usually focuses on the beginning of the product chain
Environmental ethic
the set of values or principles that govern an organizations practices relating to the environment
deontology
adheres to regulations allowing companies to do certain things with the environment
utilitarian
balances negative/positive outcomes of a company’s influence on the environment
virtue ethics
balances cornerns for humans and environment
Sustainable development
development that ensures the use of resources and the impact on the environment today does not damage prospects for the use of resources or the environment by future geneations
Business sustainable development
adopting businss strategies and activities that meet the needs of the enterprise and its stakeholders today while protecting, sustaining, and enhancing the human and natural resources that will be needed in the future
ENGOs
groups that hold shared values or attitudes about the challenges confronting the natural environment and advocate for changes to improve the condition of the environmnet
- evergreen
- environmental defence canada
Standard environmentalism
occurs when government regulation is a necessary remedy for the market’s failure to provide enouygh environmental amenities
market environmentalism
exists where economic incentives created by the market are more effective at protecting the environment than is government intervention
Four R’s: strategies to reduce waste
reduce
reuse
recycle
recover
Resource used as though it belongs to all
Commons
