Business Ethics Quiz #2 Flashcards
Corporate Social Responsibility
Responsibilities that businesses have to the societies in which they operate.
Economic Model of CSR
Limits a firm’s social responsibility to the minimal economic responsibility of producing goods and services and maximizing profits within the law (benefit stockholders).
Stakeholder Model of CSR
The view that business exists within a web of social relationships
Stakeholder theory
A model of CSR that holds that business managers have ethical responsibilities to a range of stakeholders beyond responsibilities to stockholders.
Integrative Model of CSR
For some business firms, social responsibility is fully integrated with the firm’s mission or strategic plan.
Corporate sustainability report
Provides all stakeholders with financial and other info regarding a firm’s economic, environmental, and social performance.
Reputation Management
Practice of caring for the image of a firm.
Six dimensions of Corporate Reputation
Emotional appeal, products & services, financial performance, social responsibility, workplace environment, vision & leadership.
Due Process
The right to be protected against the arbitrary use of authority.
Employment at Will
The legal doctrine that holds that all employees are employed at will.
Just Cause
Standard for terminations or discipline that requires employer to have fair cause before reaching decision against employee.
IRS 20-factor Analysis
A list of 20 factors to which IRS looks to determine whether someone is an employee or independent contractor.
Common-law Agency Test
Indicator of independent contractor status that provides the employer ability to control the manner in which the work is performed.
Economic Realities Test
Test by which courts consider whether the worker is economically dependent on the business or is in the business for themselves.
Downsize
The reduction of human resources through terminations, retirements, corporate divestments etc.