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22 Cards in this Set
- Front
- Back
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Environmental scanning
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process of collecting info about forces in m. environment
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Environmental Analysis
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process of assessing/interpreting info found in e. scanning
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Buying Power
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$, goods, services that can be traded in an exchange
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Disposable Income
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after tax income
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Discretionary Income
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disposable income after basic needs are met...$ for spending and saving
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Willingness to spend
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buying b/c of expected satisfaction, influenced by ability to buy ($) and other psychological and social forces
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Business cycle
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Prosperity
Recession Depression Recovery (pattern of economic fluctuations) |
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FTC
Federal Trade Commission |
- regulates business practices
- curbs false advertising, deceptive labeling, misleading pricing |
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Better Business Bureau
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- local, non-government regulated agency
- helps settle problems between customers and businesses |
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NARB
National Advertising Review Board |
- self regulatory unit
- decides problems raised by BBB about an advertisement |
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Technology
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application of knowledge and tools to solve problems and perform tasks more efficiently
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Sociocultural Forces
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influences in society that change people's attitudes, beliefs, norms, lifestyles, etc.
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Social Responsibility
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org's obligation to maximize + impact and minimize - impact on society
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M. Citizenship
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using a strategic focus for fulfilling the economic, legal, ethical, and philanthropic social responsibilities expected by people
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Stakeholders
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People who have a claim in some aspect of company (products, operations, markets, industry, and outcomes)
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M. Ethics
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principles that define acceptable m. conduct (determined by stakeholders)
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Ethical Issue
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identifiable problem requiring a choice among several right or wrong actions
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Cause-Related M.
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linking products to a particular social cause (ex: tom's shoes)
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Strategic Philanthropy
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use of org's core competencies and resources to address key social interests and achieve org and social benefits
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Green M.
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specific development, pricing, promotion, and distribution of products that do not harm the environment
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Consumerism
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organized efforts to protect consumer's rights
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Codes of Conduct
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formal rules and standards that describe what the company expects of employees
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