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Bus&Soc CH1
Bus&Soc 8th ed
| Term | Definition |
|---|---|
| affluence | the level of wealth, disposable income, and standard of living of the society |
| business | the collection of private, commercially orient organizations, ranging in size from one-person proprietorships to corporate giants |
| business ethics | ethical issues that arise in the commercial realm |
| business power | the ability or capacity to produce an effect or to bring influence to bear on a situation or people |
| economic environment | the nature and direction of the economy in which a business operates |
| entitlement mentality | the general belief that someone is owed something just because she or he is a member of society |
| ethics | issues of right, wrong, fairness, and justice |
| Iron Law of Responsibility | the generated forces that work to balance power and responsibility |
| macroenvironment | the total environment outside the firm |
| managerial approach | managing in a rational, systematic, and administratively sound fashion |
| pluralism | a diffusion of power among society's many groups and organizations |
| political environment | the processes by which laws get passed and officials get elected and all other aspects of the interaction between the firm, political processes, and government |
| entitlement mentality | the belief or attitude that each succeeding generation ought to have a standard of living higher than that of its predecessor |
| rights movement | the growth of activism for rights of particular groups within society |
| social contract | a set of two-way understandings that characterize the relationship between major institutions |
| social environment | demographics, lifestyles, and social values of the society |
| social problem | a gap between society's expectations of social conditions and the current social realities |
| society | a community, a nation, or a broad grouping of people with common traditions, values, institutions, and collective activities and interests |
| special-interest society | a society made characterized by multitudes of groups pursuing their own focused agenda |
| stakeholders | individuals or groups with which the business interacts and who have a "stake," or vested interest, in the firm |
| sustainability | the use of resources that can meet short and long-term human needs while preserving the environmental, economic, and social conditions |
| technological environment | the total set of technology-based advancements taking place in society |
| victimization philosophy | the growing concern that individuals or groups see themselves as having been victimized by society; a manifestation of the entitlement mentality |
Created by:
maclu24
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