SOCIAL RESPONSIBILITY AND GOOD GOVERNANCE ChAPTER 1

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Ideology

A bundle of values that creates a particular view of the world

Institutions

A formal pattern of relations that links people together to accomplish a goal

Society

A network of human relations composed of ideas, institutions and material things.

Trade liberalization

A philosophy in which nations promote trades by easing restrictions including both tariff and non tariff barriers.

Cultural

A system of shared knowledge, values, norms, custom and rituals acquired by social learning.

Social Responsibility

Adoption by a business of a strategic focus for fulfilling the economic, legal, ethical and philanthropic responsibilities expected of it by its stakeholders

Value

An enduring belief about which fundamental life choices are correct

Historical forces

An environmental force of unknown origin and mysterious action that provides the energy for events.

Dominant ideologies

An ideology is a set of reinforcing beliefs and values that constructs a worldview.

Idea

An intangible object of thought

Nation-States

Aros in an unplanned way out of the wreckage of the roman empire. The institution of thus was well suited for western Europe, where boundaries are contiguous with the extent of language

Government Environment

Business simultaneously encouraged and constrained by governments. These are now two long term global trends in the government environment of major importance to business

Foreign Direct Investment

Capital investment by private firms outside their home countries

Corporations

Combine capital and labor, encourage risk by limiting liability and have continually beyond individual's lives

Internal environment

Consist of groups (managers, owners, employees and board of directors) with different objectives, beliefs, needs and function that managers must coordinate to achieve overall company goals

Economic Environment

Consists of forces that influence market operations, including overall economic activity, commodity prices, interest rates, currency fluctuations, wages, competitor's actions, technology change and government policies

Legal environment

Consists of legislation, regulation, and litigation. These are five enduring trends in this environment, all working to constrain business behavior

Counter-Veiling Forces Model

Depicts the BGS relationship as a flow of interactions among the major elements of society

Fifth wave (1990-2020)

Digital, networks, software, new media, biotechnology

Third wave (1900-1950)

Electricity, chemicals, internal combustion, engine

Democracy

Form of government requiring three elements - popular sovereignty, political liberty and majority rule

Economic activity

Geophysical force with power to change the natural environment just as it has strained the ability of human institutions to adopt so also has it overwhelmed the ability of the eco system to cleanse and regenerate

Cultural

Impart values, habits, norms in family, religious or educational institutions

Globalization

In economic realm, it refers to the development of increasingly integrated commercial system

Secondary stakeholders

Include a probably broad range of constituents in which the relationship involves less mutual immediacy, benefit, burden or power to influence

Market Capitalism Model

It depict business as operating within business environment, responding primarily to economic forces.

Benefit 4

It encourages both professional and personal development

Benefit 5

It enhances relationship with clients - essential to building and maintaining trust between the company and clients

Public value

It is about the value that an organization contributes to society

Inequality

It is an ubiquitous and is are its consequences, envy demands for fair attributions of wealth and doctrines to justify some people have more than others

Dominance Model

It represents primarily the perspective of business critics.

Benefit 3

It supports being an employer of choice. The company's ability to attract and retain high calibre

Benefit 2

It supports public value outcomes.

Great leadership

Leaders have brought both beneficial and disastrous changes to societies and businesses

Political

Make an economic policy, collect taxes, provide social safety nets, check and balance business power

Financial

Mobilize capital for saving, borrowing and lending

Globalization

Occurs when networks of economic, political, social, military, scientific or environmental interdependence grow to span worldwide distances.

Fourth wave (1950-1990)

Petrochemicals, electronics, aviation

Business

Profit making activity that provides product and services to satisfy human needs.

Judicial

Protect property rights, encourage investments by making disputes resolution predictable

Regulatory

Protect the public and investors from dishonesty, danger and fraud

Stakeholder Model

Shows the corporation at the center of an array of mutual relationship with persons, groups, entities called stakeholders

Primary stakeholders

Small number of constituents for which impact of the relationship is immediate, continuous and powerful on both the firm and the constituent

Second wave (1845-1900)

Steam, rail, steel

Government

Structures and processes in society that authoritatively make and apply policies and rules.

Benefit 1

The ability to have positive impact in the community, encourages business to act ethically and to consider the social and environmental impacts of their business.

Population Growth

The human population throughout history is upward

Stakeholder

Those whom the corporation benefit or burden the firm with their actions

Technology

Throughout recorded history, new technologies and devices have fueled commerce and reshaped societies

Industrial revolution

Transforming changes that form agricultural economies into industrial economies

Postmodern values

Values based on assumptions of affluence, for example quality of life and self expression

First wave (1785-1845)

Water power, textiles, iron

Technological environment

When this ability is harnessed to manufacturing, it will create chips of astonishing computing power that operate on an atomic scale comparable to the process of photosynthesis


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