MGMT420 Chapter 3

climate change

Major changes in temperature, precipitation, wind patterns, and similar matters occurring over several decades is known as _______.

technological

New developments in methods for transforming resources into goods or services are called _______ forces.

insider trading

People who buy or sell stock illegally based on confidential company information are engaging in _____.

1.) Being a good global corporate citizen 2.) Being ethical in its practices 3.) Obeying the law 4.) Making a profit

Place the following obligations of a corporation (as identified by Carroll) in order, starting with the highest-level responsibility at the top of the list and placing the most fundamental obligation at the bottom of the list. Instructions

customer

Sofia paid for a haircut and some hair-care products at a local salon. In the task environment, Sofia would be classified as a _______.

philanthropy

The act of contributing money in order to benefit society is referred to as _______.

general

The macroenvironment is also known as the _______ environment.

Internal

The people inside of an organization who have an important stake in how it performs are the organization's _____ stakeholders.

Competitors

The people or organizations that vie with your company for customers or resources are known as _____.

task

The ten groups that present a company with its daily tasks to handle represent the company's _____ environment.

corporate social responsibility

Today, it is stressed even more that companies go beyond just making a profit and take into consideration the environment and philanthropic initiatives. This is known as practicing ______.

strategic allies

Two or more organizations that join forces in order to achieve advantages that neither can perform as well alone are known as _______.

False

Unlike generations before them, Millennials have little concern for the environment and are more interested in profit over planet.

1.) the unemployment rate 2.) bank interest rates

What are two examples of economic forces within a company's general environment?

utilitarian

When managers use financial performance as the best definition of an ethical choice, they are taking a(n) ______ approach to organizational decisions.

1.) Accurate reporting 2.) Long-term plans 3.) Work environment

Which are elements of corporate governance that are tied to ethics?

Stakeholders

Which broad term identifies anyone impacted by a business, including but not limited to stockholders, employees, and customers?

Millennials and Gen Zers

Which group is projected to make up almost 60% of the workforce by 2029?

1.) Demographic 2.) Political-legal 3.) International 4.) Economic 5.) Sociocultural 6.) Technological

Which of these are forces within an organization's general environment?

Jonah is deciding if he should add two hours to his time sheet for travel to a client meeting because his company does not reimburse for travel time.

Which of these employees is involved in an ethical dilemma?

1.) People for the Ethical Treatment of Animals 2.) Mothers Against Drunk Driving

Which of these organizations are considered special-interest groups? (Choose every correct answer.)

Making profits

According to free-market economist Friedman, what is the only social responsibility of a business?

climate

An organization's ethical _____ represents employees' perceptions about the extent to which the work environment supports ethical behavior.

governance

Corporate _______ is the system of company oversight designed to ensure that the interests of owners and other stakeholders are protected.

false

Ethical standards do not vary among countries or cultures.

Supplier

A company or person that provides raw materials, services, equipment, labor, or energy to another organization is called a(n) _____.

1.) General 2.) Task

A company's external environment consists of which two environments?

1.) Environmental 2.) Social 3.) Financial

A company's triple bottom line measures which aspects of its performance?

1.) planet 2.) people 3.) profit

A company's triple bottom line represents which aspects?

middleman

A distributor is sometimes referred to as a(n)

code of ethics

A formal set of standards guiding an organization's actions is called a _____.