MGT Flashcards
1
Q
It means seriously considering the impact of the company’s actions on society
A
Corporate Social Responsibility
2
Q
It is the obligation of decision makers to take actions which protect and improve the welfare of the society as a whole along with their own interests
A
Corporate Social Responsibility
3
Q
It supposes that the corporation has not only economic and legal obligations, but also certain responsibility to society which extend beyond these obligations
A
Corporate Social Responsibility
4
Q
Related primarily to achieving outcomes from organizational decisions concerning specific issues or problems which have beneficial rather than adverse effects upon pertinent corporate stakeholders, the normative correctness of the results of corporate actions has been the focus of
A
Corporate Social Responsibility
5
Q
The response of the corporation to issues beyond its narrow economic, technical and legal requirements. It is the obligation of the corporation to evaluate the effects of its decisions on the external social system
A
Corporate Social Responsibility
6
Q
One of the responsibilities of business to society is to operate at a profit. Business is the wealth-creating organ of society, but what is important is the management realized that it must consider the impact of every business policy and business action on society; it has to consider whether the action is likely to promote the public good, to advance the basic belief of society to contribute to its stability, strength, and harmony. The ultimate responsibility of management to itself, to our heritage, society, and to our way of life.
A
Corporate Social Responsibility
7
Q
5 Corporate Social Responsibility from a historical Perspective
A
The Ancient Period (5th to 15th Century)
The Medieval Period (5th to 15 Century)
The Mercantilism Period (15th to 18th Century)
Industrial Revolution
Period of Depression
8
Q
the Greek Philosopher and follower of Socrates– wrote and presented his ideas in the form of dramatic dialogues, recommending that such activities be prohibited.
A
Plato
9
Q
People believed that businessmen and wealthy people should do business to the community as part of public or social service
A
The Ancient Period (5th to 15th Century)
10
Q
The Greeks and Romans treated the businessmen next to slaves. The Elite of the society condemned businessmen, criticizing them for utilizing their money for profit and not for service to the community
A
The Ancient Period (5th to 15th Century)
11
Q
Businessmen were pressured by the society
A
The Ancient Period (5th to 15th Century)
12
Q
introduced the concept of compensatory justice which maintains that prices and wages should be fair.
A
St. Thomas Aquinas
13
Q
Criticisms against the evil of business came far and wide during the medieval period when the Catholic Church became the most powerful institution in Europe
A
The Medieval Period (5th to 15 Century)
14
Q
Catholic church did not trust the business system
A
The Medieval Period (5th to 15 Century)
15
Q
Profit– motived = anti– Christian
A
The Medieval Period (5th to 15 Century)
16
Q
claimed that Protestant values encouraged thrift, industry, and materialism, making Protestant countries more progressive than Catholic countries.
A
Max Weber
17
Q
one of the proponents of Protestant Work Ethics, likewise glorified the thrifty and industrious businessmen.
A
John Calvin
18
Q
The power of the Catholic Church as the most influential institution in Europe diminished at the onset of mercantilism, a politico– economic philosophy
A
The Mercantilism Period (15th to 18th Century)
19
Q
This period shows several violations of social responsibilities;
A
The Mercantilism Period (15th to 18th Century)
20
Q
To European governments, the main source of power and prestige among nations is the acquisition of gold and silver through trade. (Bullionism)
A
The Mercantilism Period (15th to 18th Century)
21
Q
The Harmony of Interest Theory of England
A
The Mercantilism Period (15th to 18th Century)
22
Q
Time when machines were introduced
A
INDUSTRIAL REVOLUTION
23
Q
To improved productions and business growth
A
Industrial Revolution
24
Q
Along with these improvements was the change in businessman’s attitude and values towards business.
A
Industrial Revolution
25
Businessmen regarded wealth as a symbol of moral excellence
INDUSTRIAL REVOLUTION
26
Absolute free enterprise became an argument
INDUSTRIAL REVOLUTION
27
Capitalist in ___ were the ones who thoroughly enjoyed this prerogative
England
28
___ ___ and ____ ____ , fighting against the capitalist, were both responsible in exposing these abuses, thereby earning for them the titles “social reformist”
Karl Marx , Robert Owen
29
The government, especially in progressive countries, protected the welfare of the public against abuses of businesses.
PERIOD OF DEPRESSION
30
Businesses viewed social responsibility as an adherence to rules and regulations and compliance with administrative and legal standards.
PERIOD OF DEPRESSION
31
As the growing demands for higher CSR emerge, approaches to this moral obligation has now become a business pursuit.
PERIOD OF DEPRESSION
32
How many phase of historical corporate social responsibility are there?
three
33
What are the historical phases of corporate social responsibility?
Phase 1: Profit Maximization
Phase 2: Trusteeship Management
Phase 3: Quality of life Management
34
Individual drive for profit maximization would ultimately create wealth for the nation
Phase 1: Profit Maximization
35
Business systems as profit maximizers are used as tools for the elimination of economic scarcity
Phase 1: Profit Maximization
36
Businesses ignored unsafe working conditions, paid starvation wages and used child labor in order to maximize profit.
Phase 1: Profit Maximization
37
Problems of cultural minorities, unsafe products, unfair advertising and urban poor problems were given little if no attention at all
Phase 1: Profit Maximization
38
Abuses of capitalism were extremely rampant and the government tolerated these deplorable business practices
Phase 1: Profit Maximization
39
Management was considered both as an instrument of stockholders and as trustee for all groups who contribute to the business enterprise
Phase 2: Trusteeship Management
40
Aside from profit maximization, management's concern was also to maintain a fair balance in the interests of employee, customers, creditors, stockholders and the community
Phase 2: Trusteeship Management
41
Security of basic goods and services was no longer a principal problem
Phase 3: Quality of life Management
42
Social and economic problems brought about by economic growth expanded the concept of social responsibility of management
Phase 3: Quality of life Management
43
Society demanded management's active participation in helping solve social and environmental problems in view of the vast resources (funds, manpower, materials, management skills and technology) of businesses.
Phase 3: Quality of life Management
44
Business is expected to contribute to the improvement of the quality of life, which involves cultural, social, educational, political factors and economic security
Phase 3: Quality of life Management
45
Society is unstable if the quality of life of the people is poor.
Phase 3: Quality of life Management
46
Business contributes to a good quality of life and society.
Phase 3: Quality of life Management
47
A prosperous society is the best environment for a business to thrive in. Business will benefit from its self investment in society.
Phase 3: Quality of life Management
48
What are the five different perspectives on corporate social responsibility
Classical View
Socioeconomic View
Managerial View
Public View
Christian View
49
The primary responsibility of business is profit maximization
Classical View
50
Obligation of management is to notify stockholders for their investments
Classical View
51
Supported by Milton Friedman, one of the most effective advocates of economic freedom and free enterprise.
Classical View
52
According to Milton Friedman, an economist that today managers are professionals, their social responsibility is to minimize the profit. According to him their first priority should be to run the business in the best interest of owners
Classical View
53
A certain amount of rhetoric may be inevitable in the area of social responsibility. Managers may even believe that making statements about social responsibility insulates the firm from the necessity of taking social responsibility action
Classical View
54
Whether or not business should undertake CSR, and the forms that responsibility should take, depends upon the economic perspective of the firm that is adopted.
Classical View
55
Maximizing profit is the second priority
Socioeconomic View
56
The first priority is protecting and improving society's welfare
Socioeconomic View
57
Modern business organizations are not only economic institution, but they engage their self in such activities to influence political process for their benefits
Socioeconomic View
58
Society encourages business to become involved in its social, political and legal
environment
Socioeconomic View
59
Does not emphasize profit maximization and interests of stockholders
Managerial View
60
Concerned not just with the internal running of the business but must also be concerned with the external environment in which the business operates
Managerial View
61
To balance the interests of employees, customers, suppliers, and the local plant community is the role of managers of big businesses.
Managerial View
62
Includes the needs and interests of the whole society in contrast with the classical and managerial views
Public View
63
Established harmony with both business corporations and public interest
Public View
64
Excess wealth should be given to the less fortunate. Wealthy individuals have a responsibility to share their blessings with the poor
Christian View
65
A successful corporation should perform its social responsibility more by returning a fair portion of its profits to the people in the form of social services
Christian View
66
Based on the teachings of Jesus Christ as taught in the Bible.
Christian View
67
What are the 4 corporate responsibilities (from bottom to top)
Economic Responsibility
Legal Responsibility
Ethical Responsibility
Philanthropic Responsibility
68
Be profitable
The foundation upon which all other rest
REQUIRED of business by society
Economic Responsibility
69
Compliance with laws and regulations
Laws is society’s codification of right and wrong; Play by the rules
REQUIRED of business by society
Legal Responsibility
70
Be ethical
Obligation to do what is right, just and fair; avoid harm
EXPECTED of business by society
Ethical Responsibility
71
Be a good corporate citizen
Contribute resources to the community; improve quality of life
DESIRED of business by society
Philanthropic Responsibility
72
is both a personal and a social activity. As a personal activity, it is aimed at developing a person and as a social activity its purpose is the preservation of human society.
Work
73
is the “use” or application of our physical powers to accomplish certain tasks.
Work
74
What is the purpose of work
to obtain economic gain or power.
75
What are 15 "How to enjoy work and create spiritual values in the workplace"
1. Practice the Golden Rules
2. Guard your mouth
3. Stop the green jokes
4. Practice the ethical behavior
5. Learn to forgive
6. Be generous
7. Respect superiors and coworkers
8. Be considerate
9. Perform your work and fulfill your duties to the best of your ability
10. Be a grateful person
11. Do not bring the problems at home to the workplace or vice versa
12. Be an inspiration to others
13. Read the bible everyday
14. Develop a personal relationship with God
15. Smile and enjoy your work
76
What are the 10 basic duties of employers
1. Respect the dignity of the workers
2. Appreciate their work
3. Never treat them as slaves for making money
4. Never assign them tasks beyond their strength, nor employ then in work not suited to their age or gender
5. Give them fair wages
6. Provide for their health and social recreation
7. Provide them time for the practice of their religion
8. Instruct them on how to use their money wisely
9. Instruct them to love their family
10. Provide them with opportunities for promotion
77
What are the 5 basic duties of workers
1. Work honestly and comply with all agreement
2. Never injure capital, nor steal from the employer
3. Never outrage the person of the employer
4. Never employ deceit or violence in presenting a cause
5. Never consult with “agitators” or men of evil principles
78
The era of Globalization has created a need for specialized skills and knowledge. The need for specialized skills and knowledge in business has created a trend which prods people and organizations to be identified with a particular profession basically because it brings with it prestige, a sense of respect, professional esteem and status symbol.
PROFESSIONAL ÉTIQUETTES
79
Relating to or characteristics of the profession. Engaged in one of the professions. Participating for gain in an activity not engaged in by amateurs.
Professional
80
The conduct that characterizes a profession or a professional person, or it can also be the pursuit of a profession for gain or livelihood
Professionalism
81
are groups which declare in a public manner that their members will act in a certain way according to their profession and that the same group and in some instances, the society may discipline those who fail to conform to its prescribed ways.
Professions
82
Members of the ____ create their own set of rules, set standards of practice and profession, and at the same time discipline their own professional codes of conduct.
profession
83
A _____ code of ethics is a set of behavioral guidelines that members of a profession are required by their association to observe in the course of their professional practice. These guidelines in general terms, prescribes responsibilities that members must adhere to and questionable situations in which they must not be involved.
Professional
84
In some cases, members must be sanctioned for violation of the code. These sanctions may include the following:
Payment of a fine
Payment for the cost of any investigation
Repremand
Imposition of conditions on membership
Suspension from membership
Expulsion from membership
85
What are the seven must-know netiquette rules for professional behavior
1. Exercise the Golden Rule
2. Your Cyber Fingerprint
3. Think Twice Before You Post that Pic
4. Never use profanity
5. Bite your “Tongue”
6. Less is More
7. Shhh, It’s Confidential
86
“Do unto others as you would have them do unto you.” If you wouldn’t speak to him/her that way face to face, then don’t do it online
Exercise the Golden Rule
87
Remember everything you post in cyberspace is for all to see. Even if you’ve deleted the post, text, tweet blog, email, etc., it does not. If you’ve published it, it’s traceable
Your Cyber Fingerprint
88
At the risk of stating the obvious, avoid posting unprofessional pictures of yourself or with co-workers unless you/they mind them being shared with everyone. As a brand ambassador of the company, posting a picture to your Facebook, Twitter, Instagram of you chugging a beer at a company happy hour does not reflect the company in the best light – and you may even get canned (pun, intended).
Think Twice Before You Post that Pic
89
Don’t post when you’re angry. Instead, take the 24 hour rule to clear your head. This will help you refrain from saying something you’ll likely later regret. And resist the urge to use all CAPS, as it may be interpreted as you’re shouting.
Bite your “Tongue”
90
Avoid going on and on to get your point across. According to a study from Microsoft Corp., people typically lose their attention after eight seconds, showcasing the impacts of the brain and digital media. If you want your message read, go easy on the words.
Less is More
91
Don’t reveal company secrets such as data, competitive advantage, intellectual property and much more. It’ll cost you your job and your credibility
Shhh, It’s Confidential
92
Defined as the "conscious and deliberate choice to make consumption choices based on personal and moral beliefs" (Devinney et al. 2006), responsible consumers consider the ecological and social consequences of buying a certain product.
CONSUMER SOCIAL RESPONSIBILITY
93
Has evolved over the last 25 years from an almost exclusive focus on environmental issues to a concept that more broadly incorporates matters of conscience. During this same period, we have witnessed a growing debate about the importance of ethical consumerism and particularly the impact large scale strategies have on consumer awareness and spending.
ETHICAL CONSUMERISM
94
CNSR SHOWS UP IN THREE WAYS:
1. Expressed activity with respect to specific causes
2. Expressed activity in terms of purchasing or non-purchasing behavior
3. Expressed opinions in surveys or other forms of market research
95
The 5 basic steps for company's to proactive with respect (?)
1. Select the social issue(s) carefully
2. Don’t believe the surveys
3. Don’t underestimate the importance of functional product features
4. Communicate to the specific segment in its specific language
5. Focus on the natural incentive to change
96
consumers are concerned about very specific issues and are unlikely to react to social product features that are “too broad”. The relevancy of the issue is especially important since consumers’ evaluation of social product features tend to be context specific (e.g., the use of child labor in the manufacturing of athletic shoes versus the use of animal testing in the production of bath soap).
Select the social issue(s) carefully
97
Companies invariably rely on surveys to determine needs and preferences. However, when queried most consumers will indicate that they care about most issues, as there are socially acceptable answers and the cost of lying is zero
Don’t believe the surveys
98
Consumers purchase products to fulfill specific needs and wants. Consumers will not sacrifice functional features for more socially acceptable ones and will not react to an appeal to do so. Social product features must have functionality.
Don’t underestimate the importance of functional product features
99
Consumers possess little knowledge of the social aspects of products and when confronted with this fact seek out culturally embedded rationales to justify their behavior.
Communicate to the specific segment in its specific language
100
don’t force consumers to drink from the CSR cup. Effective communication should not only make consumers aware of your product’s social features, but also educate them about how such choices are better for them, independent of the benefit to the society and mankind
Focus on the natural incentive to change
101
RESPONSIBILITY TOWARDS CONSUMERS THAT CSR INCLUDES
To provide goods of standard quality
To charge fair prices
To provide prompt and courteous after sale services
To handle consumer complaints and grievances quickly
To avoid unfair trade practices like adulteration, black marketing and hoarding
102
What are the six assistance that the consumers received from the CSR
1. Community Development
2. Fair Pricing
3. Quality
4. After Sale
5. Unfair Practices
6. Social Change
103
A country like India in its developing phase. There are multiple villages and slums sprawling across acres of land where people live a life too deplorable for the privilege to witness. With more than basic amenities of life, communities living in such areas find it extremely difficult to survive.
Community Development
104
CSR focuses on fair treatment of consumers which includes pricing. The price of a commodity is determined according to the affordability especially in the case of necessities, as emphasized by CSR.
Fair Pricing
105
Another focus of CSR is the quality of goods. Goods prescribing to the predetermined standards of quality are sent out to be sold hence ensuring the safety of the consumers
Quality
106
After sale services are extremely satisfying to consumers as they can voice their feedback and grievances, with an assurance that the selling company is willing to make changes accordingly. A prompt and efficient after sale service is sought after and of great help to consumers.
After Sale
107
A hindrance to the protection of consumers has always been unfair trade practices. The Consumer Protection Act, 1986 has made a specific provision for such practices. CSR policies often include a strict deterrent when it comes to unfair trade practices, in turn ensuring the consumer’s protection.
Unfair Practices
108
Various feminist movements have begun in the name of CSR. Goods are distributed to consumers to promote urbanization. Awareness of consumer protection is also spread which makes the society more developed.
Social Change
109
FIVE CONSUMER RESPONSIBILITIES
1. Inform Yourself Before Purchasing
2. Read and follow Instruction
3. Use product and Service Properly
4. Speak out Against Wrongdoing
5. Know Customer Responsibilities for Purchasing
110
While consumers have the right to be informed, they must also inform themselves to the best of their abilities about product and service knowledge. Whether you are purchasing equipment for your home or receiving treatment at a hospital, you need to know what other comparable products are on the market.
Inform Yourself Before Purchasing
111
Products come with instructions, warnings and fine print. It is an important customer responsibility to read all literature that comes with the product or service you're buying. Often consumer injury, misuse and breakage happens when instructions are not followed or fine print is not read.
Read and follow Instruction
112
The intentional misuse of products is punishable by law in some cases. Household cleaning products can be used to make illegal drugs. Toys that are meant to be harmless can be turned into instruments that inflict pain. You have the responsibility to use your service and product for the use with which it was intended.
Use product and Service Properly
113
This is an ethical choice in the hopes of preventing other consumers from being wronged by the same business. Most companies have a complaint department you can call to contend you've been wronged. You also have the option of contacting the Better Business Bureau, which has the power to resolve customer disputes without the law and to inform a business of customer service problems.
Speak out Against Wrongdoing
114
