

Study with the several resources on Docsity
Earn points by helping other students or get them with a premium plan
Prepare for your exams
Study with the several resources on Docsity
Earn points to download
Earn points by helping other students or get them with a premium plan
Community
Ask the community for help and clear up your study doubts
Discover the best universities in your country according to Docsity users
Free resources
Download our free guides on studying techniques, anxiety management strategies, and thesis advice from Docsity tutors
Class: BUS 5480 - Strategic Management; Subject: Business; University: Florida Institute of Technology; Term: Fall 2011;
Typology: Quizzes
1 / 2
This page cannot be seen from the preview
Don't miss anything!
TERM 1
DEFINITION 1 The school of ethical universalism holds that common understandings across multiple cultures and countries about what constitutes right and wrong give rise to universal ethical standards that apply to members of all societies, all companies, and all businesses. TERM 2
DEFINITION 2 The school of ethical relativism holds that differeing religious beleifs, customs and behavioral norms across countries and cultures give rise to multiple sets of standards concerning what is ethically right and wrong. These differing standards mean that whether business-related actions are right or wrong depends on the prevailing local ethical standards. TERM 3
DEFINITION 3 According to integrated social contracts theory, universal ethical principles based on the collective views of multiple societies form a "social contract" that all individuals and organizations have a duty to observe in all situations. Within the boundaries of this social contract, local cultures or groups can specify what additional actions may or may not be ethically permissible. TERM 4
DEFINITION 4 ...occurs when managers take advantage of their position to further their own private interests rather than those of the firm. TERM 5
DEFINITION 5 is the tendency for managers to focus excessively on short- term performance objectives at the expense of longer-term strategic objectives. It has negative implications for the likelihood of ethical lapses as well as company performance in the longer run.
TERM 6
DEFINITION 6 refers to a company's duty to operate in an honorable working conditions for employees, encourage workforce diversity, be a good steward of the environment, and actively work to the better the quality of like in the local communities where it operates and in the society at large. TERM 7
DEFINITION 7 a company's CSR strategy is defined by the specific combination of socially beneficial activities the company opts to support with its contributions of time, money, and other resources. TERM 8
DEFINITION 8 are those that meet the needs of the present without compromising the ability to meet the needs of the future. TERM 9
DEFINITION 9 A company's environment sustainability strategy consists of its deliberate actions to protect the environment, provide for the longevity of natural resources, maintain ecological support systems for future generations, and guard against ultimate endangerment of the planet.