Management Vocabulary

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the people whose interests are affected by an organization’s activities

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stakeholders

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employees, owners [those who can claim it as their legal property], and the board of directors, if any

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internal stakeholders

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people or groups in the organization’s external environment that are affected by it

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external stakeholder

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consists of eleven groups that present you with daily tasks to handle

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task environment

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those who pay to use and organizations goods or services; part of the task environment

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customers

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people or organizations that compete for customers or resources; part of the task environment

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competitors

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a person or an organization that provides supplies—that is, raw materials, services, equipment, labor, or energy—to other organizations; part of the task environment

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suppliers

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a person or an organization that helps another organization sell its goods and services to customers; part of the task environment

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distributor

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the relationship of two organizations who join forces to achieve advantages neither can perform as well alone; part of the task environment

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strategic allies

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unions and associations; part of the task environment

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employee organizations

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rescinding the tax breaks when firms don’t deliver promised jobs

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claw backs; local communities

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regulatory agencies that establish ground rules under which organizations may operate; part of the task environment

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government regulators

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groups whose members try to influence specific issues; part of the task environment

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special interest groups

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the general economic conditions and rends—unemployment, inflation, interest rates, economic growth—that may affect an organization’s performace;

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economic forces; general environment

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new developments in methods for transforming resources into goods or services

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technological forces; general environment

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influences and trends originating in a country’s, a society’s or a culture’s human relationships and values that may affect an organization

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sociocultural forces; general environment

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

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demographic forces; general environment

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

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political-legal forces, general environment

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

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international forces, general environment

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a situation in which you have to decide whether to pursue a course of action that may benefit you or your organization but that is unethical or even illegal

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ethical dilemma

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the standards of right and wrong that influence behavior

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ethics

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behavior that is accepted as “right” as opposed to “wrong” according to those standards

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ethical behavior

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the pattern of values within an organization

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value system

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

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values

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guided by what will result in the greatest good for the greatest number of people

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utilitarian approach to ethical dilemmas

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guided by what will result in the individual’s best long-term interest, which ultimately are in everyone’s self-interest

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individual approach to ethical dilemmas

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guided by respect for the fundamental rights of human beings

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moral-right approach to ethical dilemmas

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guided by respect for impartial standards of fairness and equity

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justice approach to ethical dilemmas

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

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insider trading

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using cash from newer investors to pay off older ones

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ponzi scheme

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the standards of right and wrong that influence behavior

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ethics

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behavior that is accepted as “right” as opposed to “wrong” according to those standards

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ethical behavior

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the pattern of values within an organization

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value system

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

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values

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guided by what will result in the greatest good for the greatest number of people

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utilitarian approach to ethical dilemmas

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guided by what will result in the individual’s best long-term interest, which ultimately are in everyone’s self-interest

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individual approach to ethical dilemmas

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guided by respect for the fundamental rights of human beings

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moral-right approach to ethical dilemmas

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guided by respect for impartial standards of fairness and equity

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justice approach to ethical dilemmas

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

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insider trading

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using cash from newer investors to pay off older ones

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ponzi scheme

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established requirements for financial record keeping for public companies and penalties of as much as 25 years in prison for noncompliance

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Sarbanex-Oxley Act of 2002

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

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ethical climate

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

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code of ethics

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an employee who reports organizational misconduct to the public

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whistle-blower

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

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social responsibility

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

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corporate social responsibility

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making charitable donations to benefit humankind

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philanthropy

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all the ways people are unlike and alike—the differences and similarities in age, gender, race, religion, ethnicity, sexual orientation, capabilities, and socioeconomic background

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diversity

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the stable physical and mental characteristics responsible for a person’s identity

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personality

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those human differences that exert a powerful, sustained effect throughout every stage of our lives: gender, age, ethnicity, race, sexual orientation, and physical abilities

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internal dimensions of diversity

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an element of choice; they consist of the personal characteristics that people acquire, discard or modify throughout their lives

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external dimensions of diversity

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the metaphor for an invisible barrier preventing women and minorities from being promoted to top executive jobs

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glass ceiling

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prohibits discrimination against the disabled

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Americans With Disabilities Act

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working at jobs that require less education than they have

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underemployed

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the belief that one’s native country, culture, language, abilities, or behavior is superior to that of another culture

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ethnocentrism