Key Terms Flashcards
Capitalism?
An economic system based on the private ownership of how things are made and sold, in which businesses compete freely with each other to make profits.
Shareholder?
A person who has invested money in a business in return for a share of the profits.
Corporate social responsibility?
A sense that businesses have wider responsibilities than simply to their shareholders, including the communities they live and work in and to the environment.
Whilst-blowing?
When an employee discloses wrongdoing to the employer or the public.
Globalisation?
The integration of economies, industries, markets, cultures and policymaking around the world.
Stakeholder?
A person who’s affected by or involved in some form of relationship with a business.
Consumerism?
A set of social beliefs that put a high value on acquiring material things.
