Ethics and CSR
What does CSR stand for?
Corporate Social Responsibility
ISO standards are governmental (TRUE/FALSE)
false
What is Aristocracy?
ruled by wealthy class
Define Primary data in Marketing
data observed/ collected by company
Do Market economies really exist?Why?
No, there is always some form of government interference
Who are stakeholders?
individuals,communities or parties affected by the outcome of a company's decisions /outcomes. eg customers that patronize a business.
give an example of a regulatory standard
Roadside driving
socket type
Which political system is referred to as 'government by the people'?
Democracy
What is market research
collecting information about the location where the company wants to conduct business, and determine what consumers are interested in.
Define Economic system
The way in which a country organizes its resources, and distributes goods and services to its citizens
Is it possible for a business to be 100% socially responsible?
No
How can time zones affect trade?
Different time zones= affect worker/business productivity
Country with theocratic political system
Iran,Afghanistan,Egypt,Vatican cuty etc
What are the 4P's?
Product
price
place
promotion
Which economic system has a gap between rich and poor?
Market economy(availability of resources=income based
Define corporate corruption with an example
a business' involvement in illegal activities e.g bribery
ISO function
benchmarks for globally-used products.
They provide a common language and framework for organizations to follow.
Autocracy is in what type of economy?
Centrally planned
How does location ( place) of product sale affect its price?
the product's price will vary depending on where it's sold e.g retail stores bought product more expensive than at local convenience store.
Example of Centrally planned economy
North Korea -Soviet Union-Germany(east)
Define dumping
when a country or company exports a product at a price that is lower in the foreign importing market than the price in the exporter's domestic market
which economic system sits at middle of market and centrally planned?
Mixed economy
Define Political system
Type of government by which a country is run
Your company is about to pitch to a potential investor. Your supervisor suggests slightly exaggerating the company’s financial success to make it more appealing. You’re aware this could attract investment, but it may lead to complications if the truth is disclosed
...
3 classifications of economic development
Underdeveloped
developing
developed countries