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24 Cards in this Set
- Front
- Back
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Business |
Thecollection of private, commercially oriented organizations ranging in size from sole proprietorshipsto corporate giants |
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Society |
A community, a nation, or a broadgroup of people withcommon traditions, values, institutions, and collective activities andinterests. |
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Business and societyinterrelate in a macroenvironment as stakeholders |
A macroenvironment is the completesocietal context in which the organization resides. |
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Social |
Demographics, lifestyles, social values
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Economic |
Nature and directions of the economy in which business operates |
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Political |
Processes for passing of law and elections of officials. Interactions between firms, politics, and gov't. |
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Technological |
Changes in technological advancements taking place in society |
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Pluralism |
Adiffusion of power among a society’s many groups. Involves decentralization anddiversity of power concentration. |
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Business Power |
The ability or capacity to produce an effect or to bring influenceto bear on a situation or people |
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Iron Law of Responsibility |
In thelong run, those who do not usepower in a manner society considersresponsible willtend to lose it. |
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Ethics |
Refersto issues of right, wrong, fairness, and justice |
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Business Ethics |
Focuses on ethical issues thatarisein the commercial realm. |
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Sustainability |
Sustainabledevelopment meetsthe needs of the present without compromising the ability of future generationsto meet their own needs. |
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Stakeholders |
Individualsor groups with which businessinteractsandwho havea vestedinterestin the firm. |
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Special-Interest Society |
A pluralistic society |
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Affluence |
The level of wealth disposable income, ad standard of living of the society. |
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Revolution of Rising Expectations |
A belief or an attitude that each succeeding generation ought to have a standard of living higher than that of its predecessor. |
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Social Problem |
A gap between society's expectations of social conditions and the current social realities. |
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Entitlement Mentality |
The general belief that someone is owed something just because she or he is a member of society. |
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Right Movement |
The revolution of rising expectations, the entitlement mentality and all of the factors discussed has led to this. |
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Victimization Philosophy |
Peo;le start perceiving that they are being unfairly "hurt" by society's institutions. |
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Social Contract |
Two-way understandings that characterize the relationship between major institutions (between business and society) |
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Education |
Has grown with the standard of living |
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Macroenvironment |
Society at the broadest level |
