Karteikarten
ADM1101- Social Context of business
Karten in diesem Stapel (53)
- 1Unilever Eco-effeciencies- what did they do and what did it result in?They saved energy, water, materials used, they used less carbon and less waste disposal, and it resulted in 26% of a higher revenue.
They avoided 395M dollars in costs. - 2what percentage of water will farmers need by 2015, and why?Farmers will need 19
percent more water by
2050 to meet increasing
demands for food. - 3What is needed to reach moderate business as usual?rapid reduction in water, food, energy, etc.
- 4Talk about Tesla Motors and it's accomplishments? Who is the CEO?CEO- Elon Musk
- 1st Electric car to win for Motor Trend’s
Car of the Year in 2013
-voted best in class for engineering,
design, efficiency, safety, value and
performance - 5What is Freitag and who are the 2 men who came up with this companies idea?They use anything that can be reusable to make fashionable bags.
Markus and Daniel.
They recycle anything in production process. - 6What did McDonalds UAE do?Reused recycled vegetable oil for their fleet trucks. This cut 80% of greenhouse gas emissions.
- 7Define ethics of business?the rules, standards and codes that provide guidance for morally appropriate behavior in managerial decision making.
Includes CSR, Triple Bottom Line, corporate sustainability, corporate citizenship, corporate governance, and environmental stewardship. - 8What is integrity?Corporations behavior and adherence to moral guidelines acceptable to society such as honesty, fairness and justice.
- 9Stakeholder is defined as?Anything that influences or is influenced by the achievement of an organizations purpose.
- 10CSR is?balancing social, economic and environmental responsibilities.
- 11corporate sustainability is..?corporate activities with the inclusion of economic, social and environmental responsibility to ensure survival of the organization to have less impact on stakeholders. this integrates structure, policy and operations of the organization.
- 12Triple bottom line is..?Triple E bottom line- evaluation of a corporation's performance according to social, ethical, economic and environmental value the corp. adds or destroys. Triple P bottom line- planet, profit, people.
- 13corporate citizenship is?a corporation demonstrating its' role in economy, society and environmentally.
- 14Integrity results in..?a responsible corporation. (undertaking responds to social, ethical, environmental and economic responsibilities)
- 15What is the economic system?Arrangement using land, labor and capital to produce, distribute and exchange goods and services to meet needs and wants of society. objective is using society's resources to meet society;s needs.
- 16what is capitalism?an economic system allowing private ownership (land labor and capital) assumes economic decisions are made by individuals or enterprises making decisions to make profit.
- 17free/private enterprise system is?characterized by private property, profit motive, a competitive market system, and limited involvement in the government.
- 18Laissez- faire capitalism?economic system with minimum govt interference in business affairs. Govt involvement is limited to police and security only.
- 19what is responsible enterprise system?economic system that is a free enterprise system but incorporates accountability. business is responsible to society as cause, agent or source of something (held accountable)
- 20stakeholder capitalism is..?economic system that works towards benefit of shareholders as well as stakeholders, and corporations have great social responsibility
- 21Clean capitalism is..?association of capitalism w/ social responsibility.
economic system incorporating social, economic and ecological costs and benefits into marketplace activities and prices we pay. - 22What types of owners are there?Direct ownership (e.g., shareholders); or
Indirect ownership (e.g., mutual fund holders) - 23What are boards of directors?Elected by shareholders
Must fulfill legal and fiduciary obligations - 24What are managers?Elected by shareholders
Must fulfill legal and fiduciary obligations - 25What is legitimacy?belief in the rightness of
an institution, in this case the
appropriateness of our business system
to supply the goods and services
wanted by Canadian society. - 26What is social license?It is the privilege of
operating in society with minimal
formalized restrictions based on
maintaining public trust by doing what is
acceptable to stakeholders in the
business and society relationship. - 27What are factors influencing attitudes towards business?Business wrongdoing
• Allocation of resources
• Inequities in society
• Standard of living • Self-interest
• Decentralized decision making
• Business cycle • Globalization
• Unemployment • Innovation
• The Media • Government - 28What are the 3 approaches to ethical thinking?• Deontological or rule-based theories
• Teleological or consequential
theories
• Virtue ethics - 29What is deontological ethics?- an approach that determines goodness or rightness from examining the acts rather than from the consequences of the acts.
-rules guide decision making and behavior - 30What is Teleological ethics?Approach focuses on outcomes and results of actions.
-max benefit and min harm. considers all stakeholders - 31What is Virtue ethics/ consequential theory?-based on individual's character or identity
-focuses on being instead of doing.
-decision is good if end result is good.
-if individual has good virtues, decisions will be good and ethical - 32List 2 examples of theorists for each of the ethics theories?D- John Locke and John Rawls
T- John Stuart Mill and Jeremy Bentham
V- Aristotle, Plato - 33What are the 6 responsibilities for a manager?1. Identify stakeholders
2. Understand how corporation currently views stakeholders
3. Examine how each stakeholder will or might influence firm
4. Assess opportunities and threats
5. Rank stakeholders by influence
6. Prepare programs or policies detailing how to cope with stakeholders - 34What is issues management?a systemic process in which a corporation can identify, evaluate and respond to economic, social and environmental issues in a corporation.
- 35What are the 6 steps (process) for issues management?- identification of issues
-ranking and prioritizing of issues
- formulating issue response
- implementing issue response
- monitoring/ evaluating issue response - 36Please draw the Matrix chart for stakeholder threats and the strategies?1- supportive: stategy- involve
2- marginal- monitor
3- nonsupportive- defend
4- mixed blessing- collaborate - 37What is stakeholder engagement?efforts by a corporation to understand and involve individuals or groups by considering their moral concerns in strategic initiatives
- 38Why is stakeholder engagement important?- important for CSR and corporate sustainability. This involves giving stakeholders value.
- 39What are the 6 points to make a good relationship with stakeholders?- creating a foundation
-organizational alignment
- strategy development
- building trust
- evaluating
- repeating the process - 40what is social capital?any aspect of a corporations organizational arrangement that facilitates the actions of stakeholders within and external to the corporation.
- 41What are the 6 stages of crisis management?1- avoiding the crisis
2- preparing to manage the crisis
3- recognizing the crisis
4- containing the crisis
5- resolving the crisis
6- profiting from the crisis - 42What are the 2 stakeholder approaches that help consider moral concerns in strategic and operational initiatives?social capital and stakeholder collaboration
- 43What is a civil society?Composed of the voluntary, community and social organizations or institutions that help in the functioning of society without or in not relation to the government.
- 44What are NGO'S? and what is an example of and NGO?Non- governmental organizations that work for the benefit of society and are usually non for profit. EX- Red cross &
PETA AND KFC- people for the ethical treatment of animals, actionaid, save the children. - A group that shares values and confronts society about it, advocating for changes. - 45What are the most prominent issues raised by NGO's?- animal rights, environment, capitalism, human/workers rights, religious activism, gay rights, social development, gender rights.
- 46What are the 4 ingredients to a successful partnership between NGO and a CORP.?- both NGO and Corp must show leadership
-commitment
-being open to ideas/change
- both partners must have a shared goal. - 47What are the 6 benafits from partnership with NGO's?innovation ideas
expertise
trust and reputation
identifying opportunities and risk
influence on public opinion
employee engagement - 48What are the principles of CSR?-business and society are interwoven
- expectation on business due to 3 roles- intitutional, organizational and individual
-legitimacy, public responsibility, managerial descretion - 49What are the 3 social responsibility theories?amoral: corporations are profit making entities.
personal: corperations are like people and should be held accountable for behaviors.
social: social corporations come with social responsibility - 50What is pyramid of CSR?1. Philanthropic- good quality of life
2. ethical- fair, just, right
3. legal- follow rules
4. economic- be profitable - 51sustainability journey?pre compliance
compliance
beyond compliance
integrated strategy
purpose/passion - 52What 7 elements does social auditing measure?employee
community
environment
international operations
shareholder
supplier
customer - 53—
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- ADM1101- Social Context of business at uottawa with joseph audi
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- Hanin Lewa
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