Pt 1 & 2 (Ch 1 - 4) Flashcards

1
Q

Society

A

Refers to human beings and to the social structures they collectively create

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2
Q

Interactive social system

A

Together , society & business form this in which the actions of ea profoundly influence the other.

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3
Q

Stakeholder theory of the firm

A

corporations serve a broad public purpose: to create value for the society. multiple obligations and ALL stakeholders interests must be taken into account

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4
Q

General business system

A

intro in 40s, argues that all organisms are open to, and interact with, their external environments

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5
Q

Ownership theory of the firm

A

Aka property or finance theory — firm is seen as the property of the owners. Shareholder’s interests are paramount & take precedence over the interest of others

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6
Q

Stakeholder

A

refers to persons and groups that affect, or are affected by , an org’s decisions, policies and operations.

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7
Q

Stakeholder analysis

A

to identify relevant stakeholders and to understand both their interests and the power they may have to assert these interests

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8
Q

Stakeholder coalitions

A

when interests are similiar, stakeholders may form coalitions, temporary alliances to pursue a common interest

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9
Q

Stakeholder dialogue

A

A business and its stakeholders come together for face-to-face conversations about issues of common concern

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10
Q

Stakeholder engagement

A

the process of ongoing relationship building between a business and its stakeholders

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11
Q

Stakeholder interests

A

the nature of ea group’s stake

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12
Q

market Stakeholder

A

aka primary stakeholders —- those that engage in economic transactions w/the company

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13
Q

Stakeholder power

A

examples: voting, economic, political & legal power. the ability to use resources to make an event happen or to secure a desired outcome.

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14
Q

Business

A

Org that are engaged in making a profit or providing a service for a profit

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15
Q

Boundary-spanning dept

A

depts w/in the org that reach across the dividing line that separates the company from groups and people in society

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16
Q

competitive intelligence

A

systematic & continuous process of gathering, analyzing managing info about its competitor

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17
Q

environmental analysis

A

provides managers w/the info about external issues and trends that enables an org to develop a strategy that minimizes threats and takes adv of new opportunities

18
Q

environmental intelligence

A

the acquisition of info gained from analyzing the multiple environments affecting organizations

19
Q

issue identification

A

involves anticipating emerging concerns — through media, expert views, legislature

20
Q

issue management

A

a structured and systematic process to aid org in identifying, monitoring, and selecting public issues that warrant organizational action

21
Q

issue management process

A

issue identification, issue analysis, policy options, program design, results

22
Q

performance expectations gap

A

what the firm wants to do or is doing and what stakeholders expect

23
Q

public affairs management

A

a

24
Q

public issue

A

an issue that is of mutual concern to an org and one or more of the org’s stakeholders

25
Q

charity principle

A

an idea that the wealthiest members of society should be charitable toward the less fortunate

26
Q

corporate social responsibility

A

CSR - corp should be held accountable for any of its actions that affect people, their communities, and the environment

27
Q

enlightened self interest

A

the company’s self-interest in the long term to provide true value to its customers, to help its employees to grow, and to behave responsibly as a corporate citizen

28
Q

iron law of responsibility

A

says that in the long run, those who do not use power in ways that society considers responsible will tend to lose it

29
Q

legal obligations

A

as a member of society , the firm must abide by the laws and regulations governing the society

30
Q

stewardship principle

A

believe they have an obligation to see that everyone – particularly those in need or at risk — benefits from their firm’s actions. Managers are in the position of public trust

31
Q

balanced scorecard

A

CSR: focused on a set of key financial and nonfinancial indicators w/4 quadrants: people and knowledge, internal, customer and financial

32
Q

citizenship profile

A

a

33
Q

corporate citizenship

A

90s — it entails proactively building stakeholder partnerships, discovering business opportunities in serving society and transforming a concern for financial performance into a vision of integrated financial and social performance

34
Q

department of corporate citizenship

A

a

35
Q

global corporate citizenship

A

the process of identifying, analyzing, and responding to the company’s social, political, and economic responsibilities as defined thru law and public policy, stakeholder expectations, and voluntary acts flowing from corporate values and business strategies

36
Q

social & environmental reports

A

a

37
Q

social performance audit

A

a systematic evaluation of an org’s social, ethical and environmental performance.

38
Q

transparency

A

clear public reporting of an org’s performance to various stakeholders, includes social and environmental data

39
Q

triple bottom line

A

CSR: incorporated into the financials are social and environmental impacts

40
Q

nonmarket stakeholders

A

people & groups who — although they do not engage in direct economic exchange w/the firm — are nonetheless affected by or can affect its action