Chapter 3 Flashcards
Ethics
a set of moral standards for judging whether something is right or wrong
component lifestyle
a lifestyle made up of a complex set of interests, needs, and choices
demography
the study of people’s vital statistics, such as their age, gender, race, and ethnicity, and location
generation z
canadians born from the late 1990s onward
generation y
canadians born between about 1977 and 1997
generation x
canadians born between 1964 and about 1977
baby boomers
canadians born between 1946 and 1964
multiculturalism
the fundamental belief that all citizens are equal regardless of their racial or ethnic backgrounds
social responsibility
the concern of businesses for the welfare of society as a whole; consists of obligations beyond those required by law or contracts
neoliberalism
a set of economic policies that believes that the economy (and therefore social policy) should be market-driven, not government driven
stakeholders
individuals, groups, or organizations to whom a business has a responsibility: employees, customers, suppliers, investors, and the general public
social investing
the practice of limiting investments to securities of companies that act in accordance with the investor’s beliefs about ethical and social responsibility
corporate philanthropy
the practice of charitable giving by corporations; includes contributing cash, donating equipment and products, and supporting the volunteer efforts of company employees
corporate governance
the way in which an organization is governed, directed, and administered
utilitarianism
a philosophy that focuses on the consequences of an action to determine whether it is right or wrong, and holds that an action that affects the majority adversely is morally wrong
canadian charter of rights and freedoms
legislation that guarantees the rights and freedoms of canadians
justice
what is considered fair according to the prevailing standards of society; in the 21st century, an equitable distribution of the burdens and rewards that a society has to offer
preconventional ethics
a stage in the ethical development of individuals in which people behave in a childlike manner and make ethical decisions in a calculating, self-centered, selfish way, based on the possibility of immediate punishment or reward; also known as self-centered ethics
conventional ethics
the second stage in the ethical development of individuals in which people move from an egocentric viewpoint to consider the expectations of an organization or society; also known as social ethics
postconventional ethics
the third stage in the ethical development of individuals in which people adhere to the ethical standards of a mature adult and are less concerned about how others view their behavior than about how they will judge themselves in the long run; also known as principled ethics
code of ethics
a set of guidelines prepared by a company to provide its employees with the knowledge of what the company expects in terms of their responsibilities and behavior toward fellow employees, customers, and suppliers
whistleblower
an employee, a former employee, or and other member of an organization who reports misconduct by others in the organization to those who have the power to take corrective action
strategic giving
the practice of tying philanthropy closely to the corporate mission or goals and targeting donations to regions where a company operates
