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20 Cards in this Set
- Front
- Back
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accommodative stance
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A company meets its legal and ethical requirements and also goes further in certain cases
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business ethics
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The ethical or unethical behaviors by employees in the context of their jobs
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collusion
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When two or more firms agree to collaborate on such wrongful acts as price fixing
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consumerism
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Social activism dedicated to protecting the rights of consumers in their dealings with businesses
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defensive stance
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A company does everything required of it legally but no more
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ethical behavior
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Behavior conforming to individual beliefs and social norms about what’s right and good
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ethics
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Beliefs about what’s right and wrong or good and bad
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managerial ethics
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The standards of behavior that guide individual managers in their work
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obstructionist stance
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A company does as little as possible and may attempt to deny or cover up violations
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organizational stakeholders
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Groups, individuals, and organizations that are directly affected by the practices of an organization and, therefore, have a stake in its performance
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proactive stance
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A company actively seeks to contribute to the well-being of groups and individuals in its social environment
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social responsibility
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The overall way in which a business attempts to balance its commitments to relevant groups and individuals (stakeholders) in its social environment
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unethical behavior
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Behavior conforming to individual beliefs and social norms about what is defined as wrong and bad
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acquisition
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One firm buys another outright
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board of directors
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Group elected by stockholders to oversee corporate management
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business plan
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The entrepreneur’s goals and objectives --
The strategies that will be used to obtain them -- The implementation of the chosen strategies |
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chief executive officer (CEO)
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head
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corporation
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“An artificial being, invisible, intangible, and existing only in contemplation of the law”
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cooperative
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Combine the freedom of sole proprietorships with the financial power of corporations
Groups of sole proprietorships or partnerships agree to work together for their common benefit |
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corporate governance
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The roles of shareholders, directors, and other managers in corporate decision making and accountability
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