BUS 101 – chapter 9 – Flashcards
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a pluralistic system invites many participants economic stakes are high for firms business counterbalances other social interests business is a vital stakeholder of government
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what are four arguments in favor of political involvement by business?
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managers are not qualified to engage in political debate business is to big, too powerful - an elephant dancing among chickens business is too selfish to care about the common good business risks its credibility by engaging in partisan politics
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what are four arguments against political involvement by business?
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information strategy financial-incentives strategy constituency-building strategy
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what are the three strategic types of corporate political strategy (strategies for influencing government)?
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- Businesses seek to provide government policymakers with information to influence their actions (Lobbying) - direct communication - expert witness testimony
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what is information strategy?
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- Businesses provide incentives to influence government policymakers to act in a certain way (Political contributions) - economic leverage - political consulting aid - office personnel
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what is financial-incentives 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 (Stakeholder coalitions) - advocacy advertising - public relations - legal challenges
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what is constituency-building strategy?
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true
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Lobbyist are banned by law from joining a business firm after serving as a regulator in that industry (true/false)
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lobbying direct communications expert witness testimony
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what are the three ways to promote an information strategy?
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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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what is lobbyists do?
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when businesses hire former government officials as lobbyists and political advisers
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what is a revolving door?
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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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what does direct communications entail?
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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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what does an expert witness testimony entail?
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political action committees (PACs) economic leverage
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what are the two ways to promote a financial-incentive strategy?
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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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what are political action committees (PACs)?
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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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what is economic leverage?
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A company's view on a controversial political issue
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advocacy advertising focuses on....
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stakeholder coalitions advocacy advertising trade associations legal challenges
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what are the four ways to promote a constituency-building strategy?
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Businesses try to influence politics by mobilizing various organizational stakeholders to support its political agenda
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what are stakeholder coalitions?
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Advertisements that focus on a company's views on controversial political issues
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what is 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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what are trade associations?
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Business seeks to overturn a law after it has been passed
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what are legal challenges?
