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86 Cards in this Set
- Front
- Back
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Business
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An organization that is engaged in making a product or providing a service for a profit.
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General systems theory
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A theory that holds that all organisms are open to, and interact with, their external environments.
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Interactive social system
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The closely intertwined relationships between business and society.
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Ownership theory of the firm
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A theory that holds that the purpose of the firm is to maximize returns to shareholders. (Also called the property or finance theory of the firm.)
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Society
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Refers to human beings and to the social structures they collectively create; specifically refers to segments of humankind, such as members of a particular community, nation, or interest group.
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Stakeholder
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A person or group that affects, or is affected by, a corporation's decisions, policies, and operations. (See also Market stakeholder and Nonmarket stakeholder.)
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Stakeholder analysis
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An analytic process used by managers that identifies the relevant stakeholders in a particular situation and seeks to understand their interests, power, and likely coalitions.
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Stakeholder coalitions
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Temporary alliances among company's stakeholders to pursue a common interest.
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Stakeholder dialogue
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Face-to-face conversations between representatives of a company and its stakeholders about issues of common concern.
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Stakeholder engagement
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An ongoing process of relationship building between a business and its stakeholders.
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Stakeholder interests
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The nature of each group, its concerns, and what it wants from its relationship with the firm.
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Stakeholder (market)
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A stakeholder that engages in market transactions with a company. (Also called a primary stakeholder.)
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Stakeholder (nonmarket)
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A stakeholder that does not engage in direct economic exchange with a company, but is affected by or can affect its actions. (Also called a secondary stakeholder.)
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Stakeholder power
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The ability of one or more stakeholders to achieve a desired outcome in their interactions with a company. The four types are voting power, economic power, political power, and legal power.
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Stakeholder theory of the firm
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A theory that holds that the purpose of the firm is to create value for all of its stakeholders.
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Boundary-spanning departments
Chp 2 |
Departments, or offices, within an organization that reach across the dividing line that separates the company from groups and people in society.
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Competitive intelligence
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The systematic and continuous process of gathering, analyzing, and managing external information on the organization's competitors.
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Environmental analysis
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The system that provides managers with information about external issues and trends.
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Environmental intelligence
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The acquisition of information gained from analyzing the multiple environments affecting organizations.
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Issue identification
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Issue identification involves anticipating emerging concerns
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Issue management
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The structured and systematic process of identifying, analyzing, and selecting public issues that warrant organizational action.
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Issue management process
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A five-step process where the issue progresses from issue identification through issue analysis, option generation, evaluation and selection, and program implementation to assessment of results and continuous improvement.
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Performance–expectations gap
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The perceived distance between what a firm wants to do or is doing and what the stakeholder expects.
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Public affairs management
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The active management of an organization's external relations with such stakeholders as legislators, government officials, and regulatory agencies.
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Public issue
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An issue that is of concern to an organization's stakeholders.
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Charity principle
Chp 3 |
The idea that the wealthier members of society or profitable businesses should give voluntary aid and support to those less fortunate or to organizations that provide community services.
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Corporate social responsibility
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The idea that businesses should be held accountable for any of its actions that affect people, their communities, and their environment.
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Enlightened self-interest
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The view that a business can be socially aware without giving up its own economic self-interest.
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Iron law of responsibility
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The belief that those who do not use their power in ways that society considers responsible will tend to lose their power in the long run.
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Legal obligations
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A belief that a firm must abide by the laws and regulations governing the society.
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Reputation
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The desirable or undesirable qualities associated with an organization or its actors that may influence the organization's relationships with its stakeholders.
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Stewardship principle
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The idea that business managers, as public stewards or trustees, have an obligation to see that everyone—particularly those in need—benefits from the company's actions.
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Balanced scorecard
Chap 4 |
An approach focusing on a set of key financial and nonfinancial indicators to account for an organization's short-term and long-term accomplishments.
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Citizenship profile
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Choosing a configuration of citizenship activities that fits the setting in which the company is working.
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Corporate citizenship
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This term broadly refers to putting corporate social responsibility into practice through stakeholder partnerships, serving society, and integrating financial and social performance.
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Department of corporate citizenship
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A department created in a business to centralize under common leadership wide-ranging corporate citizenship functions.
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Global corporate citizenship
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A phrase that describes the efforts of some companies to provide leadership on key social issues wherever they do business in the world.
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Social and environmental reports
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Social and environmental reports is the additional action of reporting efforts through corporate reporting.
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Social performance auditing
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A systematic evaluation of an organization's social, ethical, and environmental performance.
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Transparency
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Clear public reporting of an organization's decision-making process or performance.
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Triple bottom line
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The measurement of an organization on the basis of its economic results, environmental impact, and contribution to social well-being.
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Business ethics
Chap 5 |
The application of general ethical ideas to business behavior.
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Conflicts of interest
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Occur when an individual's self-interest conflicts with acting in the best interest of another, when the individual has an obligation to do so.
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Ethical egoist
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A person who puts his or her own selfish interests above all other considerations, while denying the ethical needs and beliefs of others.
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Ethical principles
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Guides to moral behavior, such as honesty, keeping promises, helping others, and respecting others' rights.
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Ethical relativism
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A belief that ethical right and wrong are defined by various periods of time in history, a society's traditions, the specific circumstances of the moment, or personal opinion.
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Ethics
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A conception of right and wrong conduct, serving as a guide to moral behavior.
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Human rights
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An ethical approach emphasizing a person or group's entitlement to something or to be treated in a certain way, such as the right to life, safety, or to be informed.
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Justice
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An ethical approach that emphasizes whether the distribution of benefits and burdens are fair among people, according to some agreed-upon rule.
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Noisy withdrawal
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The action required of an attorney when seeing evidence of a client's company committing a material securities law violation if unable to get the company to stop the illegal act.
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Personal spirituality
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A personal belief in a supreme being, religious organization, or the power of nature or some other external, life-guiding force.
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Sarbanes-Oxley Act
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U.S. law passed in 2002 that greatly expanded the powers of the SEC to regulate information disclosure in the financial markets and the accountability of an organization's senior leadership regarding the accuracy of this disclosure. (See also Securities and Exchange Commission.)
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Stages of moral development
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A sequential pattern of how people grow and develop in their moral thinking, beginning with a concern for the self and growing to a concern for others and broad-based principles.
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U.S. Corporate Sentencing Guidelines
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Standards to help judges determine the appropriate penalty for criminal violations of federal laws and provide a strong incentive for businesses to promote ethics at work.
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Utilitarian reasoning
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An ethical approach that emphasizes the consequences of an action and seeks the overall amount of good that can be produced by an action or a decision.
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Virtue ethics
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Focuses on character traits to define a good person, theorizing that values will direct a person toward good behavior.
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Whistle-blower
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An employee's disclosure of alleged organizational misconduct to the media or appropriate government agency, often after futile attempts to convince organizational authorities to take action against the alleged abuse.
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Bribery
CHAP 6 |
A questionable or unjust payment often to a government official to ensure or facilitate a business transaction.
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Compliance officer
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(See Ethics officer.)
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Corporate culture
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A blend of ideas, customs, traditional practices, company values, and shared meanings that help define normal behavior for everyone who works in a company.
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Ethical climate
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An unspoken understanding among employees of what is and is not acceptable behavior.
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Ethics assist or help line
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A program available for employees when they are troubled about some ethical issue but may be reluctant to raise it with their immediate supervisor.
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Ethics audit
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An assessment used by an organization to target the effectiveness of their ethical safeguards or to document evidence of increased ethical employee behavior.
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Ethics officer
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A manager designated by an organization to investigate breaches of ethical conduct, promulgate ethics statements, and generally promote ethical conduct at work.
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Ethics policies or code
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A written set of rules used to guide managers and employees when they encounter an ethical dilemma.
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Laws
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Society's attempt to formalize into written rules the public's ideas about what constitutes right and wrong conduct in various spheres of life.
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Ombudsperson
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(See Ethics officer.)
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U.S. Foreign Corrupt Practices Act
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Federal law that prohibits businesses from paying bribes to foreign government officials, political parties, or political candidates.
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White collar crime
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Illegal activities committed by corporate managers, such as embezzlement or fraud.
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Anti-Americanism
CHAP 7 |
Opposition to the United States of America, or to its people, principles, or policies.
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Central state control (system)
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A socioeconomic system in which economic power is concentrated in the hands of government officials and political authorities. The central government owns the property that is used to produce goods and services, and most private markets are illegal.
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Civil society
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Non-profit, educational, religious, community, family, and interest-group organizations; social organizations that do not have a commercial or governmental purpose.
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Collaborative partnerships
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Alliances among business, government, and civil society organizations that draw on the unique capabilities of each to address complex social problems.
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Constructive engagement
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When transnational corporations operate according to strong moral principles and become a force for positive change in other nations where they operate.
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Debt relief
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The idea that the world's richest nations should forgive poor nations' obligations to pay back loans.
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Democracy
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A form of government in which power is vested in the people and exercised by them directly or by their elected representatives.
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Free enterprise system
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A socioeconomic system based on private ownership, profit-seeking business firms, and the principle of free markets.
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Global codes of conduct
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Codes of conduct that seek to define acceptable and unacceptable behavior for today's transnational corporations.
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Globalization
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The movement of goods, services, and capital across national borders.
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International financial and trade institutions (IFTI)
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Institutions, such as the World Bank, International Monetary Fund, and World Trade Organization, that establish the rules by which international commerce is conducted.
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International Monetary Fund (IMF)
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An international financial institution that lends foreign exchange to member nations so they can participate in global trade.
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Military dictatorship
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A repressive regime ruled by a dictator who exercises total power through control of the armed forces.
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Nongovernmental organizations (NGOs)
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Nonprofit organizations that are created and work to advocate on behalf of particular causes, issues, and interests.
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Transnational corporation (TNC)
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Corporations that operate and control assets across national boundaries.
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World Bank
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An international financial institution that provides economic development assistance and loans to member nations.
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World Trade Organization (WTO)
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An organization of member nations committed to advancing free trade and open markets in all countries.
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