Docsity
Docsity

Prepare for your exams
Prepare for your exams

Study with the several resources on Docsity


Earn points to download
Earn points to download

Earn points by helping other students or get them with a premium plan


Guidelines and tips
Guidelines and tips

Chapter 9 | BUS 5480 - Strategic Management, Quizzes of Strategic Management

Class: BUS 5480 - Strategic Management; Subject: Business; University: Florida Institute of Technology; Term: Fall 2011;

Typology: Quizzes

2010/2011

Uploaded on 12/14/2011

alysa-george
alysa-george 🇺🇸

15 documents

1 / 2

Toggle sidebar

This page cannot be seen from the preview

Don't miss anything!

bg1
TERM 1
Ethical Universalism
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
Ethical Relativism
DEFINITION 2
The school of ethical relativism holds that differeing religious
beleifs, customs and behavioral norm s across countries and
cultures give rise to multiple sets of st andards concerning what is
ethically right and wrong. These diffe ring standards mean that
whether business-related actions are right or wrong depends on
the prevailing local ethical standards.
TERM 3
Integrated Social Contracts Theory
DEFINITION 3
According to integrated social contra cts theory, universal ethical
principles based on the collective vie ws of multiple societies form
a "social contract" that all individuals a nd organizations have a
duty to observe in all situations. Within the boundaries of this
social contract, local cultures or grou ps can specify what additional
actions may or may not be ethically permissible.
TERM 4
Self-dealing
DEFINITION 4
...occurs when managers take advantage of their position to
further their own private interests rather than those of the
firm.
TERM 5
Short-termism
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.
pf2

Partial preview of the text

Download Chapter 9 | BUS 5480 - Strategic Management and more Quizzes Strategic Management in PDF only on Docsity!

TERM 1

Ethical Universalism

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

Ethical Relativism

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

Integrated Social Contracts Theory

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

Self-dealing

DEFINITION 4 ...occurs when managers take advantage of their position to further their own private interests rather than those of the firm. TERM 5

Short-termism

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

Corporate social responsibility (CSR)

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

CSR Strategy

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

Sustainable business practices

DEFINITION 8 are those that meet the needs of the present without compromising the ability to meet the needs of the future. TERM 9

Environment sustainability

strategy

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.