Business Ethics CH 2 – Flashcards
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Business for Social Responsibility (BSR)
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An organization formed to fill an urgent need for a national business alliance that fosters socially responsible corporate policies
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Community obligations
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Voluntary work to improve, beautify, and uplift a community
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Corporate citizenship
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The array of collective concepts related to CSR
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Corporate social performance (CSP) model
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A conceptual framework that integrates corporate social responsibilities, modes of responsiveness, and the social or stakeholder issues involved
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Corporate social responsibility (CSR)
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The impact of a company's actions on society
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Corporate social responsiveness
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An action-oriented variant of Corporate Social Responsibility that describes a business's willingness and activity in responding to social demands
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Corporate sustainability
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The goal of the triple bottom-line approach to business, in which companies create enduring shareholder value within economic, social, and environmental spheres
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Economic responsibility
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The expectation that companies produce goods and services that society wants and sells them fairly while allowing for a sufficient profit
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Ethical responsibility
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The scope of norms, standards, values, and expectations that reflect what consumers, employees, shareholders, and the community regard as fair, just, and consistent with respect for or protection of stakeholders' moral rights
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Global corporate citizenship
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A business's responsible exercising of rights and duties within and across national and cultural borders
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Legal responsibility
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The laws under which society and businesses are expected to operate
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Paternalism
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A parental display of social responsibility
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Philanthropic responsibility
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Voluntary or discretionary activities guided by the public expectation that businesses "give back"
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Philanthropy
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Business contributions to charity and other worthy causes
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Pyramid of Corporate Social Responsibility
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A graphic representation of the four components of Corporate Social Responsibility, comprised of Economic, Legal, Ethical, and Philanthropic responsibilities.
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Socially responsible or ethical investing
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An approach to investing in which social or ethical considerations influence investment decisions
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Stages of corporate citizenship
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A five-stage model for describing the development of companies as corporate citizens, comprised of Elementary, Engaged, Innovative, Integrated, and Transforming stages
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Sustainability
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A measure of a business's ability to endure in a particular sphere
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Triple bottom-line
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A business perspective that encompasses economic, social, and environmental spheres of sustainability
