CH 3

Question 1

Stakeholders

Answer 1

The people whose interests are affected by an organizations activities
- Internal, external

Question 2

Internal Stakeholders

Answer 2

-Consists of employees, owners, and the board of directors.

Question 3

Owners

Answer 3

Consist of all those who can claim the organization as their legal property

Question 4

Board of directors

Answer 4

members elected by the stockholders to see that the company is being run according of their interest .

Question 5

External Stakeholder

Answer 5

-people or groups in the organizations external environment that are affected by it
-Task, general environment

Question 6

Suppliers

Answer 6

A person or organization that provides raw materials, services, equipment, labor or energy to other organizations.

Question 7

Distributor

Answer 7

A person or organization that helps another organization sell its goods and services to customers.

Question 8

Strategic Allies

Answer 8

Describes the relationship of two organizations who join forces to achieve advantages neither can perform as well alone.

Question 9

Government Regulators

Answer 9

• Regulatory agencies that establish ground rules under which organizations may operate

Question 10

Special Interest Group

Answer 10

groups whose members try to influence specific issues

Question 11

Economic Forces

Answer 11

Consists of the general economic conditions and trends - unemployment, inflation, interest rates, economic growth- that may affect an organization’s performance.

Question 12

Technological forces

Answer 12

• new developments in methods for transforming resources into goods and services .

Question 13

Sociocultural Forces

Answer 13

Influences and trends originating in a country’s, a society’s , or a cultures human relationships and values that may affect an organization.

Question 14

Demographic Forces

Answer 14

Influences on an organization arising from changes in the characteristics of a population, such as age, gender, or ethnic origin.

Question 15

Political- Legal Forces

Answer 15

Changes in the way politics shape laws and laws shape the opportunities for and threats to an organization.

Question 16

International Forces

Answer 16

Changes in the economic, political, legal, and technological global system that may affect an organization.

Question 17

Ethical Dilemma

Answer 17

Situation in which you have to decide whether to pursue a course of action that may benefit you or your organization but that is unethical or even illegal.

Question 18

Ethics

Answer 18

Standards of right and wrong that influence behavior

Question 19

Values

Answer 19

Relatively permanent and deeply held underlying beliefs and attitudes that help determine a person’s behavior

Question 20

Organizations may have two value systems that conflict :

Answer 20

1. the value system stressing financial performance versus
2. The value system stressing cohesion and solidarity in employee relationships .

Question 21

Four approaches to deciding ethical dilemmas

Answer 21

1. Utilitarian
2. Individual
3. Moral-rights
4. Justice

Question 22

Kohlberg’s Theories

Answer 22

Level 1 : Pre-conventional- follows rules
Level 2: Conventional - follows expectations of others
Level 3: Post - Conventional - guided by internal values

Question 23

Social Responsibility

Answer 23

managers duty to take actions that will benefit the interests of society as well as of the organizations.

Question 24

Corporate social responsibility

Answer 24

Notion that corporations are expected to go above and beyond following the law and making a profit

Question 25

Philanthropy

Answer 25

Making charitable donations to benefit humankind

Question 26

Corporate governance

Answer 26

The system of governing a company so that the interest of corporate owners and other stakeholders are protected.