Vampire Hunter
A theory that holds the purpose of the firm is to maximize its long-term market value.
What is shareholder theory (or ownership theory)?
When a person or group of people identify a social need and use their entrepreneurial skills to address this need.
What is social entrepreneurship?
A conception of right and wrong conduct, serving as a guide to moral behavior.
What is ethics?
A blend of ideas, customs, traditional practices company values, and shared meanings that help define normal behavior for everyone who works in a company.
What is corporate culture?
The removal or scaling down of regulatory authority and regulatory activities of government.
What is deregulation?
The elected group of individuals who have a legal duty to establish corporate objectives.
What is the board of directors?
The legal principle that workers and hired and fired at the sole discretion of the employer.
What is employment at will?
The multiple steps involved in the movement of a product or service from the most distant supplier to the customer.
What is a supply chain?
An analytic process used by managers that identifies the relevant stakeholders in a particular situation and seeks to understand their interests, power and likely coalitions.
What is a stakeholder analysis?
A concept that reflects the notion that providing value to stakeholders is in a business's long-run best interest.
What is enlightened self-interest?
A belief that ethical right and wrong are defined by various periods in history, a society's traditions, the specific circumstances of the moment, or personal opinion.
What is ethical relativism?
A questionable or unjust payment often to a government official to ensure or facilitate a business transaction.
What is bribery?
The oldest form of regulation in the US, aimed at modifying the normal operations of the free market and the forces of supply and demand.
What is economic regulation?
This occurs when a person gains access to confidential information about a company's financial condition and then uses that information, before it becomes public knowledge, to buy or sell the company's stock.
What is insider trading?
An employee's disclosure of alleged organizational misconduct to the media or appropriate government agency.
What is whistle-blowing?
The illegal recruitment and movement of people against their will, usually to exploit them for financial gain.
What is human trafficking?
Alliances among company's stakeholders to pursue a common interest; generally, are not static relationships.
What are stakeholder colalitions?
A systematic evaluation of an organization's social, ethical and environmental performance.
What is a social audit?
The first ethical theory, which is based on values and personal character.
What is virtue ethics?
A written set of rules used to guide managers and employees when they encounter an ethical dilemna
What are ethical policies or codes?
Government regulations aimed at improving social welfare in such areas as healthcare and education.
What are social assistance regulations?
A financial institution, pension fund, mutual fund, insurance company, university endowment, or similar organization that invests its accumulated funds in securities offered for sale on stock exchanges.
What is an institutional investor?
This guarantees a fair chance to be heard or defend one's rights.
What is due process?
The non-governmental institutions that govern economic activities. Occurs when a company or a group of companies voluntarily establish codes of conduct governing working conditions, human rights, and environmental practices within global supply chains.
What is private regulation?
A theory that holds the purpose of the firm is to create value for society.
What is the stakeholder theory?
The idea that businesses should act in a way that enhances society and their stakeholders and be held accountable for any of its actions that affect people, their communities, and their environment.
What is corporate social responsibility?
An ethical approach to ethics emphasizing the overall amount of good that can be produced by an action or a decision.
What is utilitarian ethics.
This occurs when an individual's self-interest clashes with acting in the best interest of another, when the individual has the obligation to do so.
What is a conflict of interest?
Laws that seek to preserve competition in the marketplace and prohibit unfair, anticompetitive practices by businesses.
What are antitrust laws?
U.S. regulation requiring public companies to hold an advisory shareholder vote on executive compensation at least once every three years.
What is say-on-pay?
A salary that allows workers, paid for a standard work week, to support half of the basic needs of an average sized family based on local prices near the workplace.
What is a living wage?
Organizations hired to manufacture products for or provide services directly to a company.
What is a tier-one supplier?
A theory that holds that all organisms are open to, and interact with, their external environment.
What is general systems theory?
The belief that those who do not use their power in ways that society considers responsible will tend to lose their power in the long run.
What is the Iron Law of Responsibility?
An ethical approach that emphasizes whether the distribution of benefits and burdens among people are fair, according to some agreed-upon rule.
What is Justice theory of ethics?
A federal law that prohibits executives of US based companies from paying bribes to foreign government officials, political parties, or political candidates.
What is the U.S. Foreign Corruption Practices Act?
When the manufacture or distribution of a product gives rise to unplanned or unintended costs borne by consumers, competitors, or neighboring communities.
What are negative externalities?
The U.S. federal government agency whose mission is to protect stockholders' rights by making sure that stock markets are run fairly and that investment information is fully disclosed.
What is the Securities and Exchange Commission.
This federal law passed in 1970 gives workers the right to a job free from recognized hazards that are likely to cause death or serious physical harm.
What is the Occupational Safety and Health Act?
Gathering information about factory conditions directly from workers using their mobile phones.
What is a crowd-sourced audit?