407 Test 1
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| year Congress passed the Sherman Antitrust Act to outlaw monopoly | 1890
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| this company descended from the Standard Oil trust | Exxon Mobil
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| founder of Standard Oil | John D. Rockefeller
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| current CEO of Exxon Mobil | Lee Raymond
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| an establishment of money that cannot be taken from you | trust
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| year Standard Oil of N.J. changed its name to Exxon | 1972
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| year Exxon merged with Mobil to form Exxon Mobil | 1999
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| year the drunk captain of the Exxon Valdez spilled 11 million gallons of oil into Alaskan waters | 1989
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| broad term encompassing a range of actions and institutions | business
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| network of human relations | society
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| society giving corporations the authority to take necessary actions and permits a profit | social contract
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| model with: low government interference (laissez-faire), individuals own private property and freely risk investments, consumers are informed about the range of products and make their own decisions, moral restraint within business | Market Capitalism Model
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| "From each according to his ability, to each according his need." | Karl Marx
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| "Defining Deviancy Down." | Daniel Patrick Moynihan
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| inequalities of wealth, encourages exploitation of workers, imperialism to spread markets, erodes virtue, stimulates materialism, encourages conspiracies, pollution and resources exploitation | problems with Communism
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| model that believes that corporations and a powerful elite control a system that enriches a few at the expense of many | Dominance Model
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| the basic political conflict in every nation, which is the antagonism between rich and poor | inequality
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| four factors of Human Development Index | life expectancy, literacy, education, standard of living
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| company that used "scenarios" to prepare to environmental issues | Royal Dutch Shell
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| a measure of inequality by distribution; defined by a ratio of values between 0 and 1, 0 equals perfect income equality | Gini coefficient
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| the development of an increasingly INTEGRATED system based on FREE MARKETS in which nations are OPEN to foreign trade and investment | globalization
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| a set of reinforcing beliefs and values that construct a world view | ideology
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| the force or strength to act compel another entity to act | power
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| "Power tends to corrupt, and absolute power corrupts absolutely. Great men are almost always bad men." | Lord Acton
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| level of corporate actions with more direct results | surface level
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| level of corporate actions with more indirect results | deep level
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| perspective of power that believes there are a small number of individuals that control the nation | dominance theory
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| perspective of power that believes in the spread of power | pluralist theory
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| book by C. Wright Mills that is the modern impetus for the dominance theory | "The Power Elite"
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| immigrant from Ireland, knights of labor, UMW background, Socialist party, IMW background, "Monster Capitalism" | "Mother" Jones
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| opposite of wealthy Max from 101st floor of WTC | happy hamburger stand guy, Mets fan
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| the lending of money for interest | usury
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| wrote "The Wealth of Nations" | Adam Smith, England
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| first state to offer rights to animals | California
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| river-blindness case | Merck and Co.
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| the duty of a corporation to create wealth in ways that avoid harm to, protect, or enhance societal assets | corporate social responsibility
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| three themes of broader responsibility | managers were trustees, managers had an obligation to balance multiple interests, managers subscribed to the service principle
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| touted citizenship but was ultimately unconcerned about the welfare of his employees | Henry Ford
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| believed in responsibility to customers, the public, employees, suppliers, and finally stockholders | General Robert E. Wood
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| the most influential economist of the second half of the 20th century | Friedman
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| called customers who spent too much | Eileen Fisher
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| chart that measures the top 20% being rewarded, the middle 70% being "pushed", and the bottom 10% being terminated | the Vitality Curve
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| case from 1974 when Exxon hit oil in desert in Chad and needed a pipeline to sea | The Chad-Cameroon Case
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| keys to a mission statement | defines the business, differenciates it from competitors, explains relationships with stockholders
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| the use of methods to detect, classify, analyze, track, and prioritize social issues in the corporate environment | issues management
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| CEO of Nike | Phil Knight
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| case against Nike | Mark Casky vs. Nike
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| an assessment of social impacts of a corporation on society | social audit
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| a standard of conduct for a particular group | ethics
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| approach to ethics: what one should do | normative
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| approach to ethics: what people do | descriptive
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