Pol213 (Exam 1) - Kt - Chapter 3

Front 1

Corporate Social Responsibility

Back 1

means that a corporation should be held accountable for any of its actions that affect people, their communities, and their environment.

Front 2

Iron law of responsibility

Back 2

says that in the long run, those who do not sue power in ways that society considers responsible will tend to lose it.

Front 3

Charity principle

Back 3

the idea that the wealthiest members of society should be charitable toward those less fortunate, is a very ancient notion.

Front 4

Stewardship principle

Back 4

believe they have an obligation to see that everyone, particularly those in need or at risk benefits from their firms actions.

Front 5

Reputation

Back 5

refers to desirable or undesirable qualities associated with an organization or its actors that may influence the organizations relationships with its stakeholders.

Front 6

Enlightened self-interest

Back 6

the long term rewards to the company from its civic involvement in enhanced reputation, employee satisfaction, and community support.

Front 7

Legal obligations

Back 7

a firm must abide by the laws and regulations governing the society.