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Sustainable Business Practices > Exam 2 > Flashcards

Exam 2 Flashcards

1
Q

2 Types of research in Quality of Life

A
  1. subjective - life satisfaction or happiness
  2. objective approach - social indicators and quantitative stats
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2
Q

what is QOL?

A

Quality of Life

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3
Q

Legatum Prosperity Index

A
  1. Economy
  2. Entrepreneurship
  3. Governance
  4. Education
  5. Health
  6. Safety and security
    7.personal freedom
    8.social capital
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4
Q

Government services are..

A

broad and extensive, BUT in poor counties there are spottier government services

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5
Q

What is the social responsibility of Government Regarding Business?

A
  1. inflation act of 2022 - medicare, clean energy incentives, and IRS changes
  2. TARP - trouble assets relief program (2008) - to bail out banks, insurers, and automakers
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6
Q

Imperfections of government activity

A
  • taxes
    -corruption
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7
Q

2 types of intervention in markets

A
  1. indirect
  2. direct
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8
Q

government direct market intervention

A

operates the markets themselves, subsidies and tax breaks, owns business in key areas like energy, transportation
(i.e - russia, china)

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9
Q

government indirect intervention in markets

A

R & D, and support of education system

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10
Q

unconstrained political views

A

liberal
- humans are willing to care for others
- open to new experiences
- tolerance and diversity

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11
Q

constrained political views

A

conservative - views human nature darkly, sees human as self-motivated

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12
Q

Who is Bob Inglis?

A

2015 profile in courage winner

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13
Q

modern government focuses on QOL more than

A

businesses (i.e. the Fukushima disaster)

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14
Q

the boundaries btw businesses and the government are gray

A

i.e. - GM and Chrysler bailouts 2009

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15
Q

benefits of globalization

A

more choices and lower prices

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16
Q

costs to globalization

A

inequities, low wages, pollution, overconsumption, criminal trafficking, illegal drugs, human slaves

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17
Q

Reckitt Benkiser

A

firm with global culture (UK based, health & home products)

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18
Q

Globalists - for globalization!

A

Thomas L. Friedman
- thinks globalization replaced the cold war
- globalization is 3 things: markets, nation-states, technologies

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19
Q

anti-globalists

A
  1. William Kilbourne (macro marketer)
    - thinks it’s neo liberalism that applied to the world
  2. Joseph Stiglitz (economist)
    - think trade liberalization shouldn’t be governments responsibility
    - thinks government should promote: equity, employment, trade reforms
20
Q

semi - globalists

A
  1. Thomas P. Barnett (social critic)
    - globalization should be extended everywhere
    - core vs. gap counties (strong vs. weak globalization)
  2. Pankaj Ghemawat
    - thinks current world state is globalization
21
Q

5 global flows

A
  1. goods/services
  2. energy
  3. financial
    4.security
  4. people
22
Q

Globalization “top down” phenomenon

A

(current) the global market undermines national sovereignty and democratic choice is constrained to trivial matters

23
Q

globalization “bottom up” phenomenon

A

i.e. CA college students protest worker wages in china

24
Q

“snowbalization” after COVID

A
  • rethought global supply chain, re-did trade deals, and there is more regionalism and nationalism
25
Q

Wars of Globalization

A
  1. illegal trafficking
    2.corruption
    3.geopolitics
26
Q

Who was Bill Roady?

A

CEO of MTV, created a large global network and he focused on the importance of relationships

27
Q

Consumers see global brands as offering:

A
  1. quality
  2. global identity
    3.social responsibility
28
Q

What is the driving factor of market dynamism?

A

changing consumer preferences (“me” vs. “we”)

29
Q

“ME” Dimension

A

Money is the driving force
john D. Rockefeller - one of the first billionaires (just a little more)

30
Q

Who is Paul Stiles?

A

social critic and author of “is the American Dream killing you?”
- “more is better”

31
Q

The Domination Social Paradigm (DSP)

A

society’s belief that organizes how people perceive the world around them
- after WW1 the west became very material focused

32
Q

What is Success?

A

earned success, knowing you’ve created value in you/others life
- Arthur C. Brooks - Harvard

33
Q

Voluntary Simplicity

A

downshifters - seek less stressful way of living, left “earn and spend” cycle
ethical simplifiers - move to simple lifestyles of E&S reasons

34
Q

“WE” in todays market

A

Jack Johnson - singer w/ a strong fan community, trade tickets, car-pooling, concert feedback

35
Q

Collaborative Consumption

A

sharing, bartering, lending, trading, gifting, swapping

36
Q

Opposing Phenomena

A

consumer vulnerability -healthcare
consumer empowerment - networking to increase amount of choice

37
Q

The Environmental Imperative - Philip Kotler

A
  1. climate change
  2. ozone layer depletion
  3. soil degradation and increased desertification
  4. increased air and water pollution
  5. less fresh water available
  6. increasing depletion of natural recourses
38
Q

In order for firms to achieve sustainability…

A

executives pay packages must change and leaders must show economic and environmental sustainability success

39
Q

2 Macro marketing Schools of Thought

A
  1. developmental school
  2. the critical school
40
Q

The developmental school of thought

A
  • views markets as the best way for economic growth, human development, and QOL
  • markets are part of sustainability solution
41
Q

The Critical School of Thought

A
  • thinks markets and marketing are part of the issue
  • thinks we’re too based on materialism and status consumer needs
42
Q

Individual vs. Systems

A

I-frame vs. S - frame

43
Q

Ethical Concepts

A
  1. citizenship - being responsible to society
  2. stewardship - being responsible to others
    3.honesty - being forthright in dealings
  3. responsibility - accept consequences
  4. fairness - to balance different needs
  5. respect - acknowledge human dignity
  6. transparency - spirit of openness
44
Q

Paradox of Sustainable Marketing

A

Profits vs. Service to Others

45
Q

New Belgium Brewing

A

integrates employees into company management
- transparency
- inclusiveness

46
Q

New Belgium Brewing Mission Statement

A
  1. Lovingly care for the planet that sustains us.
  2. Honor natural resources by closing the loops between waste and input.
  3. Minimize the environmental impact of shipping our beer.
  4. Reduce our dependence on coal-fired electricity.
  5. Protect our precious Rocky Mountain water resources.
  6. Focus our efforts on conservation and efficiency.
  7. Support innovative technology.
  8. Model joyful environmentalism through our commitment to relationships, continuous improvement, and the camaraderie and cheer of beer

Sustainable Business Practices (4 decks)

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