Influences On Business Decisions Flashcards
What is a bureaucracy
The system of rules
What are cultural dimensions
a set of characteristics that from the international context of business culture
What is infastructure
The basic physical and organizational structures and facilities needed for the operation of a society or enterprise
What is multinational
a business organization operating in several countries
What is organizational culture
The values, attitudes, beliefs, meanings and norms that are shared by people and groups within an organization
What is labor turnover
The rate which employees leave a business
What is dividend
A sum of money paid regularly by a company to its stakeholders out of its profits
Who are external stakeholders
groups outside a business with an interest in its activities
Who are internal stakeholders
Groups inside the business with an interest in its activities
What is remuneration
the reward for work in the form of pay
What is shareholder value
A measure of company performance that combines the size of dividends with the share prize
What is an audit
An official inspection of an organizations accounts, typically by an independent body
What is a bribe
Money paid to persuade somebody to do what you want them to
What is business ethics
The moral principles that guide the way in which a business behaves
What is a corporate social responsibility
a business assessing and taking responsibility for its effects on the environment and its impact on social welfare. It involves the idea that businesses are responsible for more than their shareholders
What is data harvesting
The process of extracting information from websites automatically and using it for other purposes
What is emerging economy
Used to describe a developing country
What are ethical codes of practice
statements about how employees in a business should behave in particular circumstances where they experience ethical issues.
What is an ethical decision
a decision which considers what is morally right or wrong
What are ethics
Moral rules or principles of behavior that should guide members of a profession or organization and make them deal honestly and fairly with each other and with their stakeholders.
What is living wage
an hourly rate of pay based on the basic cost of living, set independently of government and updated annually
What is the national minimum wage
The minimum pay per hour all workers are entitled to by law
What are sanction (trade embargos)
Sanctions are restrictions that are used in trade or investment with the aim of influencing a policy change in another country.
What is sustainable and ethical investment
where instruments are made in companies with a strong ethical stance
