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MGMT 3880 Exam 4
Business Ethics & Social Responsibility
| Term | Definition |
|---|---|
| Cap & Trade | The principle that officers, directors, and managers of a corporation are not liable for losses incurred when the evidence demonstrates that decisions were reasonable and made in good faith |
| Carbon footprint | The amount of carbon dioxide and other carbon compounds released by the consumption of fossil fuels |
| Carbon tax | A pay-to-pollute system in which those who discharge carbon into the air pay a fee or tax |
| Carrying capacity | Largest number of individuals of a population that an environment can support at a given time |
| Market economy | Hart's term for the developed world, the affluent societies consuming about 75% of the world's energy |
| Nature's economy | consists of the natural systems and resources that support the market and the survival economies |
| Survival economy | An economy in which most consumers are subsistence farmers |
| Sustainability | A long-term approach to the interaction between business activity and societal impact on the environment and other stakeholders |
| Spaceship economics | An economic perspective that views resources as finite and places and imperative on sustainable use or (nearly) infinite reuse of materials necessary to support life |
| Sustainable development | Development that meets the needs of the present without compromising the ability of future generations to meet their own needs |
| Tragedy of the commons | An economy theory highlighting the human tendency to use as much of a free natural resource as wanted without regard for others' needs or for long-term environmental effects or issues |
| Access money | A form of corruption in which favors or finds are afforded to powerful officials by a business in exchange for an increase of opportunities to earn profit |
| Acculturation | The cultural transmission and socialization process that stems from cultural exchange |
| Moral agency | The self-awareness, freedom and ability to make choices based on one's perception of right and wrong |
| Consumerism | A lifestyle characterized by the acquisition of goods and services |
| Eculturation | The process by which humans learn the rules, customs, skills, and values to participate in a society |
| Humanistic business model | A business model for balancing profitability and responsibility fairly, especially with regard to stakeholders |
| Localization | The process of adapting a product for non-native environments and languages, especially in other nations and cultures |
| Mercantilism | The economic theory the global wealth is static, and prosperity comes from the accumulation of wealth through extraction of resources or trade |
| Grand theft | A form of corruption including activities such as embezzlement of funds from an organization to an individual |
| Petty theft | A form of corruption including activities such as extortion b persons in places of authority |
| Universal values | Ethical principles that apply everywhere despite differences in time, geography, and culture |
| Speed money | A form of corruption in which small amounts of money (bribes) are paid to low-level officials to decrease bureaucratic resistance in government |
| Access economy | A nontraditional business model in which consumers participate on both sides of a transaction, sometimes facilitated by a third party |
| Artificial intelligence (AI) | The branch of science that uses computer algorithms to replicate human intelligent behavior by machines with minimal human intervention |
| Flextime | A work schedule in which employees can select their own start and finish time |
| Gig economy | An environment in which individuals and businesses contract with independent workers for the completion of short-term assignments, engagements, or projects, offering few or no benefits beyond compensation |
| Job sharing | The use of two or more employees to perform the work of one full-time position |
| Robotics | A field of research that includes computer science, mechanical and electronics engineering, and science process with the objective to produce robots, or related forms of automation, to replicate human tasks |
| Telecommuting | Working from a remote location (home or other space) by means of electronic connections |
Created by:
jd3ttmar
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