1.1: The Business and Social Relationship Flashcards
What are the three pillars that create a “Good Company” in the relationship between business and society?
The three pillars are:
Good Management
Good Organization
Good Citizenship
What does the “Good Management” pillar represent?
The “Good Management” pillar links ethics to management practices within a company.
What does the “Good Organization” pillar represent?
The “Good Organization” pillar focuses on managing ethics inside the company and ensuring ethical organization-wide behavior.
What does the “Good Citizenship” pillar represent?
The “Good Citizenship” pillar goes beyond the boundaries of the company, focusing on the company’s role in the community and society at large.
Is it possible to build good companies?
Yes, good companies can exist if good management is possible. Good companies are built by people, and the ability to be a good manager is key to building a good company.
What are the key goals of the textbook for understanding the relationship between business and society in the Canadian context?
To describe distinctly Canadian capitalism and evaluate actors in the business landscape.
To approach the relationship between business and society using critical thinking and various perspectives.
To prepare students for decision-making regarding business-society issues, using lessons from the past.
How is society defined in the context of business ethics?
Society is a community of people with common traditions, values, and history.
In Canada, it is a pluralistic society made up of various groups, institutions, and individuals, with a focus on diversity, democracy, and social protection.
How is business defined?
Business refers to private, commercial-value-oriented enterprises, including for-profit, for-benefit, and co-operative entities.
In Canada, SMEs make up 99% of all businesses, employing 88% of the population and contributing significantly to GDP.
What is the “social license to operate”?
The social license to operate is the privilege of conducting business in a society by maintaining public trust through responsible behavior, fulfilling society’s expectations regarding financial, ethical, social, and environmental performance.
