Flashcards
BSNS111 Midterm
Cards in this deck (13)
- 1Describe the idea of corporate social responsibility (corporate citizenship)An unwritten contract between a business and its stakeholders/society that it will act in a way that is mindful of the economical, societal, environmental, and even philanthropic impacts of its functioning
- 2Describe a pluralistic society (pluralism). What pluralism result in?When there are separate parties with different interests in a society, e.g. politics, interests, businesses. I.e. a widely diversified set of loyalties. Because there's always a counter-group, one group will never have an excess of power
- 3Describe the countervailing forces model4 elements: corporations, the government, the public, & environmental catalysts. All these forces exert influence & power on eachother, but none will ever completely dominate.
- 4Under media theory, how many the media influence power over society?Agenda-setting, priming, or framing
- 5Describe utilitarianism when making ethical decisionsMoral behaviour will produces the greatest good for the greatest number. All options are considered and the one that benefits most is selected
- 6What are the challenges of utilitarianism?What may be considered the 'greater good' by the greatest number may not be moral at all. Examples are genocide & slavery
- 7Describe individualism when making ethical decisionsThe decision that is best for the individual's long-term interests will produce the greatest good for all
- 8What is the practical approach to ethics?Selecting an option based off prevailing standards in the business & society, however sidesteps the question of what is good/right
- 9What is a corporate charter?A government-issued document to create a corporation that specifies the purpose of the corporation, & the basic rights of all involved
- 10What is fiduciary responsibility?The legal duty of a representative to manage the property of someone in the best interest of the owner
- 11Governments need to implement _____ in order to prevent recurring egregious behaviour from corporationsregulations
- 12Describe the Agency Theory. What's the problem with this perception?The idea that the shareholders are the owners of the business, and managers act as agents for the shareholders. Legally, shareholders are more beneficiaries of the company, not owners. Managers are more fiduciaries than agents
- 13What is libertarianism?A person may live their life is in any way they desire as long as the rights of others are respected. Libertarians defend each others right to life, liberty, and property.
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- Flashcards on BSNS111 Midterm, created by Guy Turner on 22/03/2019.
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- Guy Turner
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