Business Essentials Ch 2

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1

Accomodative Stance

approach to social responsibility by which a company, if specifically asked to do so, exceeds legal minimums in its commitments to groups and individuals in its social environment

2

Business Ethics

ethical or unethical behaviors by employees in the context of their jobs

3

Collusion

illegal agreement between two or more companies to commit a wrongful act

4

Consumerism

form of social activism dedicated to protecting the rights of consumers in their dealings with businesses

5

Corporate Social Audit

systematic analysis of a firm's success in using funds earmarked for meeting its social responsibility goals

6

Defensive Stance

approach to social responsibility by which a company meets only minimum legal requirements in its commitments to groups and individuals in its social environment

7

Ethical Behavior

behavior conforming to generally accepted social norms concerning beneficial and harmful actions

8

Ethical Compliance

the extent to which the members of the organization follow basic ethical (and legal) standards of behavior

9

Ethics

beliefs about what is right and wrong or good and bad in actions that affect others

10

Insider Trading

illegal practice of using special knowledge about a firm for profit or gain

11

Legal Compliance

the extent to which the organization conforms to local, state, federal, and international laws

12

Lobbying

the use of persons or groups to formally represent an organization or group of organizations before political bodies

13

Managerial Ethics

standards of behavior that guide individual managers in their work

14

Obstructionist Stance

approach to social responsibility that involves doing as little as possible and may involve attempts to deny or cover up violations

15

Organizational Stakeholders

those groups, individuals, and organizations that are directly affected by the practices of an organization and who therefore have a stake in its performance.

16

Philanthropic Giving

the awarding of funds or gifts to charities or other worthy causes

17

Political Action Committees (PACs)

special organizations created to solicit money and then distribute it to political candidates

18

Proactive Stance

approach to social responsibility by which a company actively seeks opportunities to contribute to the well-being of groups and individuals in its social environment

19

Regulation

the establishment of laws and rules that dictate what organizations can and cannot do

20

Social Responsibility

the attempt of a business to balance its commitments to groups and individuals in its environment, including customers, other businesses, employees, investors, and local communities

21

Unethical Behavior

behavior that does not conform to generally accepted social norms concerning beneficial and harmful actions

22

Whistle-Blower

employee who detects and tries to put an end to a company's unethical, illegal, or socially irresponsible actions by publicizing them