Business and Society / Influencing The Political Environment – Flashcards
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Ad hoc Coalitions
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Bring diverse groups together to organize for or against particular legislation or regulation.
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A pluralistic system invites many participants
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Why business should be involved in politics
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Why Should business should be involved in politics- one reason
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Economic stakes are high for firms
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Why business should be involved in politics
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Business counterbalances other social interests
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Business is vital stakeholder of government
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Why business should be involved in politics
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Managers are not qualified to engage in political debate
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Why business should NOT be involved in politics
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Business is too big, too powerful
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Why business should NOT be involved in politics
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Business is too selfish to care about the common good
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Why business should NOT be involved in politics
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Business risks its credibility by engaging in partisan politics
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Why business should NOT be involved in politics
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Advertisements that focus on a company's views on controversial political issues
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Advocacy Advertising
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Coalitions of companies in the same or related industries used to coordinate businesses' grassroots mobilization campaigns
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Trade associations
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Stakeholder coalitions
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Businesses try to influence politics by mobilizing various organizational stakeholders to support its political agenda
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Promoting a Constituency Building Strategy
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Advocacy Advertising Trade associations Stakeholder coalitions
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Involves the activities taken by organizations to acquire, develop, and use power to obtain an advantage
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Corporate Political Strategy
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Economic leverage
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Occurs when a business uses its economic power to threaten to leave a city, state, or country unless a desired political action is taken
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Independently incorporated organizations that can solicit contributions and then channel those funds to candidates seeking political office
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Political action committees
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Elements of Financial Incentive strategy
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Economic leverage Political action committees
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Elements of an Information Strategy
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Lobbying Direct communications Expert witness testimony
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Lobbying
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Lobbyists communicate with and try to persuade others to support an organization's interest or stake as they consider a particular law, policy, or regulation
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Direct communications
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Businesses invite officials to participate in activities that will improve government officials' understanding of management and employee concerns
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Expert witness testimony
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Businesses provide facts, anecdotes, or data to educate or influence government leaders at public forums like congressional hearings
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Types of Corporate Political Strategy
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Information strategy Financial-incentives strategy Constituency-building strategy
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Businesses seek to provide government policymakers with information to influence their actions
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Information strategy
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Financial-incentives strategy
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Businesses provide incentives to influence government policymakers to act in a certain way
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Constituency-building strategy
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Businesses seek to gain from other affected organizations to better influence government policymakers to act in a way that helps them
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Revolving door
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When businesses hire former government officials as lobbyists and political advisors
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The role of the public affairs department
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Manage the firm's interactions with governments at all levels and to promote the firm's interests in the political process
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One of the most effective organizations for promoting direct communication between business and policymakers
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The Business Roundtable
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Studies various public policy issues and advocates for laws it believes foster vigorous economic growth and a dynamic global economy
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The Business Roundtable
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Considers issues like corporate governance, education, health care, and civil justice reform
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The Business Roundtable
