Social Business + Te Ao Maori

Question 1

What are the 3 theory’s of business ethics?

Answer 1

Stock/shareholder theory
Stakeholder theory
Social contract theory

Question 2

The stock/shareholder theory

Answer 2

Holds that a company has no ethical obligations to society other than to earn the largest possible profit for its stockholders or owners within limits of business ethics and the law

Question 3

The stakeholder theory

Answer 3

Holds that a company is morally obligated to all parties with a stake in the outcome of its activities, including employees, the community and the environment as well as stockholders.

Question 4

Social contract theory

Answer 4

Holds that all businesses operate under an unwritten contract with the society as a whole, in which the society allows the company to do business under th condition that its actions benefit society.

Question 5

How can ethical decisions in business be strongly affected

Answer 5

By which theory of business ethics informs the decision making process.

Question 6

Social license to operate (SLO)

Answer 6

The ongoing acceptance of a company or industry’s standards business practices and operating procedures buy its employees, stakeholders and the general public. SLO is created and maintained slowest over time as a company builds trust with the community it operates in and other stakeholders.

Question 7

Trust value chain

Answer 7

You are only as strong as your weakest link, your trust value chain is either built or destroyed and follows a distinct and simple path.

Question 8

Social business

Answer 8

In a social business, the investors / owners can gradually recoup the money invested but cannot take any dividend beyond that point. The purpose on investment is purely to achieve one or more social objectives through the operation of the company. No personal gain is desired by the investors. The company must cover all costs and be financially stable while achieving the social objective in sectors suck as healthcare, education, poverty, environment, housing, climate urgency etc.

Question 9

Corporate social responsibility (CSR)

Answer 9

The continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as the local community and society at large.

Question 10

Types of CSR

Answer 10

Environment
Ethical / human rights / legal
Philanthropic
Economic

Question 11

Ethical CSR

Answer 11

Refers to a companies commitment to operate their business in an ethical manner that upholds human rights principles

Question 12

Philanthropic CSR

Answer 12

Refers to a corporations aims, goals and objectives for actively bettering society as a whole

Question 13

Economic CSR

Answer 13

Refers to the practice of making financial decisions based on a commitment to doing good. E.g. investing in alternative energy sources.

Question 14

Strategic CSR

Answer 14

Assisting the firms profit potential

Question 15

Strategic CSR

Answer 15

Assisting the firms profit potential

Question 16

Non-strategic CSR

Answer 16

Completely integrative and ethical

Question 17

Disadvantages of CSR

Answer 17

May take management focus away from core business activities. May appear cosmetic - without genuine social benefit. May make organization more vulnerable to revelation of bad / unethical business practice

Question 18

CSR Report

Answer 18

A report published by a company or organization which may be shown on their website for the public to see. It includes the companies social, environmental, and economic impact on society. It can help companies identify fresh new ways to improve overall performance and thus have an overall financial benefit.

Question 19

Global Reporting Initiative (GRI)

Answer 19

International not for profit organization, with a network based structure. To enable all companies and organizations to report their economic, environmental, social and governance performance, GRI produces free sustainability reporting guidelines.

Question 20

Māori worldview (te ao Māori)

Answer 20

The worldview is the central systemization of ceneptions of reality to which members of its culture assent from and which stems their value system. The worldview lies at the very heart of the culture, interacting w and influencing every aspect of the culture.

It’s a holistic worldview that focuses on interconnections and is grounded in tikanga customary values.

Question 21

Indigenous definition 3 elements:

Answer 21

1- descent from populations inhabiting a region prior to later inhabitants
2- goegraphical, politicial and/or economic domination by later inhabitants or immigrants.
3- maintenance of some distinctive social-cultural norms and institutions.

Question 22

Māori definition

Answer 22

The term Māori denotes the indigenous people of NZ. Māori are tangata Whenua, described has as the people of the land referring to their status as First Nation peoples of NZ.

Question 23

Relationships, sense of connectedness

Answer 23

Whanaungatanga - value

Question 24

Sacred relationships of god

Answer 24

Wairuatanga - value

Question 25

Guardianship, stewardship

Answer 25

Kaitiakitanga - value

Question 26

Hospitality, treating others w respect + generosity

Answer 26

Manaakitanga - value

Question 27

Coming together, unity, collaborations

Answer 27

Kotahitanga - value

Question 28

Coming together, unity, collaborations

Answer 28

Kotahitanga - value

Question 29

Knowledge + understanding

Answer 29

Matauranga - value

Question 30

Self determination, control, autonomy

Answer 30

Tino rangatiratanga - principle

Question 31

Exercise of authority, leadership + ownership rights of resource use and production

Answer 31

Rangatiratanga - principle

Question 32

Reciprocate exchange, the principle of balance

Answer 32

Utu - principle

Question 33

Prestige, power, respect

Answer 33

Mana - principle

Question 34

Life force, vitality, special nature

Answer 34

Mauri

Question 35

2 characteristics of an indiginous economy:

Answer 35

1- the philosophical space driving economic activity is associated with he respective indigenous worldview.

2- an approach that values accumulation of sharing (equitable distribution of wealth amoungst the community)

Question 36

The Anglo American model of governance

Answer 36

A model that focuses on maximizing shareholder value, with other stakeholders groups in the company coming secondary

Question 37

The Anglo American model of governance

Answer 37

A model that focuses on maximizing shareholder value, with other stakeholders groups in the company coming secondary