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20 Cards in this Set

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