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61 Cards in this Set
- Front
- Back
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gender pay gap |
difference in pay between men and women in our society |
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corporate pyramid order |
stockholders elect BOD BOD elects top officers top officers elect employees |
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Has the Equal Pay Act been effective? |
No |
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quid pro quo |
when submission to sexual activity is required to get or keep a job |
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hostile environment |
a situation where sexually offensive conduct is pervasive in a workplace, making work extremely difficult for an affected individual
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two leading approaches to business involvement in the legal/political environment
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1. proactive (active involvement)-managerial ideology 2. reactive (wait for something to happen and then react)-traditional ideology |
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grassroots lobbying |
when the company seeks to go over the head of the politicians to get the public to put pressure on them to do as the company desires. |
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When were Political Action Committees(PAC) created? |
after Watergate |
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What strategy would the AACSB advocate to deal with legal/political environment? |
proactive strategy |
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"Just-in-time" |
phrase associated with Japan's Kanban System |
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Is the United States high context or low context? |
low context |
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Ugly American |
When an American goes into a foreign country expecting/telling people to act the way Americans act |
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Cultural imperialism |
everyone country should be like your country |
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law of comparative advantage |
idea that it is more effective to specialize in what you do best,rather than trying to do everything -economic underpinning to the globalization concept |
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Cultural Relativism |
"When in Rome, do as the Romans do." |
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Multinational Company |
company that not only sells its products in other countries; but has factories, headquarters, offices, etc...in other countries |
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The Foreign Corrupt Practices Act |
A law passed in 1977 at the end of the Social Activism Period; applies to all companies in stock exchange |
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original name for WTO |
GATT |
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first law prohibiting workplace discrimination |
The Equal Pay Act |
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federal agency charged with enforcing workplace discrimination laws |
EEOC |
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proactive and reactive strategies deal with what? |
legal/political environment |
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tort law is primarily made up from |
state common law |
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Ford Edsel disaster |
marketing disaster |
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synonym for ethics |
morality |
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basis of socialism |
The concept that people will be motivated to contribute to community service and the public sector rather than to work out of mere self-interest |
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Maslow's Hierarchy of Needs |
bottom - physiological needs safety and security belongingness esteem top - self-actualization |
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Archie Carols pyramid of Corporate Social Responsibility |
bottom - financial responsibility legal responsibility responsibility to be ethical top - social responsibility |
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elements of macroenvironment of business |
economic, social, legal/political, technological, and international environments |
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globalization |
The creation of networks of human interaction that span worldwide distances |
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Epicurus |
-philosopher "Eat,drink, and be merry, for tomorrow we die" |
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Fredrich Nietzsche |
-philosopher -"man and superman" |
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Precipitating events in the annals of American business |
-Watergate -The Tylenol crisis |
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Laura Nash |
Thearticle, "Ethics Without the Sermon" |
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Utilitarianism |
The greatest good for the greatest number |
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Bentham |
Utilitarianism |
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another name for market capitalism |
traditional ideology |
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Originator of Fiscal Policy |
John Maynard Keynes |
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reasons for government regulation in business |
-economic -social -historically mostly economic, but since 1960's they became largely social |
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successors of Progressives and Populists |
Ross Perot and Ralph Nader |
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ways capitalism differs from socialism and communism |
capitalism has emphasis on the individual and individual responsibility. |
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Milton Freedman |
stood up against the corporate social responsibilityconcept. |
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reason why the industrial revolution was so revolutionary |
explosion of output that resulted from factories, machines, and the division of labor |
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Story of Sir Thomas More |
setout in the play and movie, "A Man for All Seasons," illustrates thelengths some people will go to because of their principles |
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stagflation |
-ended Social Activism Period - President Carter |
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The Smoot-Hawley Act |
passedduring the Great Depression to protect our companies from foreign competition |
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communism |
government owns all of the means of production |
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Who advocated supply-side economics? |
Ronald Reagan |
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Labor unions currently represent how much of the private sector work force? |
around 6% |
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Author of The Wealth of Nations |
Adam Smith |
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supply-sideeconomics called for: |
balanced budgets, reduced regulation of business, and lower taxes (primarily for business); didn't accomplish them all |
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event that drove business schools to begin focusing on the macro-environment of business |
stagflation |
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Joseph Schumpeter |
believed capitalism was good because of what he called creativedestruction. |
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Where did TheIndustrial Revolution begin? |
England |
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Is business a Traditional profession? |
No |
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Laissez-faire capitalism |
an economic philosophy that rejects government intervention in markets |
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Noblesseoblige |
those who have been successful should help those who areless fortunate. |
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social responsibility of business |
That business should make money without harming society, and should affirmatively try to make society better |
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amorality |
the idea that ethics and morality are irrelevant; just follow legal standard belief that business ethics were different from traditional ethics |
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ethnocentrism |
belief that every place is like your home country |
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categorical imperative |
"don't do anything that you would not want everyone else to do" |
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3 leading branches of ethics |
Egoism, Utilitarianism, Principles |
