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42 Cards in this Set
- Front
- Back
Corporate governance
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The process by which shareholders seek to ensure that 'their' corporation is run according to their intentions.
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Global financial markets
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All physical and virtual places where financial titles in the broadest sense are traded worldwide.
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Shareholder activism
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Buying shares in a company with the intention to voice concerns on allegedly unethical practices.
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Socially responsible investment (SRI)
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The use of ethical, social, and environmental criteria in the selection and management of investment portfolios.
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Four types of employee privacy
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Physical, social, informational, psychological
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Consumer rights
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Inalienable entitlements to fair treatment when entering into exchanges with sellers.
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Deception marketing
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Creating or taking advantage of false beliefs that substantially interfere with the ability of people to make rational consumer choices.
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Types of ethical issues in pricing
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Excessive pricing, price fixing, predatory pricing, deceptive pricing
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Ethical consumption
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The conscious and deliberate choice to make certain consumption choices due to personal moral beliefs and values.
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Sustainable consumption
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The use of goods and services that respond to basic needs and bring a better quality of life, while minimizing the use of natural resources, toxic materials and emissions of waste and pollutants.
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Conflict of interest
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When a person's or organization's obligation to act in the interests of another is interfered with by a competing interest that may obstruct the fulfillment of that obligation.
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Considerations for gift giving
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Intention of the gift-giver, impact on the receiver, perception of other parties.
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Ethical sourcing
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The inclusion of explicit social, ethical, and/or environmental criteria into supply chain management policies, procedures and programs.
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Fair trade
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A system aimed at offering 'the most disadvantaged producers in developing countries the opportunity to move out of poverty through creating market access under beneficial rather than exploitative terms.
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Supply loop
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Product end-of-life management strategies that fulfill two criteria: they divert end-of-life products from landfill or incineration, and they reprocess these end-of-life products to replace primary resources in the supply chain.
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Industrial ecosystem
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Taken beyond the context of a single product supply and recapture loop, we can begin to also conceive of wider communities of organizations bound by interdependence.
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Civil society
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Organizations such as pressure groups, non-governmental organizations, charities, religious groups, and other private organizations that are neither business nor government institutions.
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Boycott
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An attempt by one or more parties to achieve certain objectives by urging individual consumers to refrain from making selected purchases in the marketplace.
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Social enterprise
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These occupy a middle ground between a conventional business and a civil society organization. They take part in the production of goods and services whilst having a distinct social purpose.
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Government
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A variety of institutions and actors at different levels that share a common power to issue laws.
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Laws
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Serve as a codification into explicit rules of the social consensus about what a society regards as right and wrong.
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Regulation
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Rules that are issued by governmental actors and other delegated authorities to constrain, enable, or encourage particular business behaviours.
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Lobbying
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A direct, usually private, attempt by business actors to influence governmental decision-making through information provision and persuasion.
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Corruption
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The abuse of entrusted power for private gain.
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Difference between corporate ownership and regular property
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The control of the owned property no longer lies in the hands of the owner. There are many shareholders, thus no single individual can consider themselves the owner. Shareholder and management interests may differ.
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Ethical issues with corporate governance
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The independence of the supervisory, non-executive board members is necessary to avoid conflicts of interests. Executive pay has exploded as a result of globalization and performance-related pay systems. Hostile takeovers can also be included in this category.
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Insider trading
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This occurs when securities are bought or sold on the basis of material 'non-public' information.
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Ethical issues with insider trading
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Inequalities in the access to relevant information. Misappropriation of property. Benefiting to the cost of 'ordinary' investors. Undermining the fiduciary duty of corporate managers.
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Agency relation
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Shareholder is a principal who contracts management as an agent to act in their interest within the boundary of the firm.
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Anglo-american model of corporate governance
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Focuses on the stock market as the central element of the system of governance.
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Continental European model of corporate governance
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Within this network of mutually interlocking owners, the central focus is typically the long-term preservation of influence and power.
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Employee rights
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Freedom from discrimination, privacy, due process, participation and association, healthy and safe working conditions, fair wages, work.
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Reverse discrimination
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Disadvantaging those thought to already be in an 'advantaged' position. In some countries, it is deemed acceptable to 'tip the scales' to favour under-represented groups.
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Work-life balance
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A 'healthy' balance between work and private life.
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Marketing communications
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To inform consumers about goods and services, and to persuade consumers to actually go ahead and purchase products.
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Freeza
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Dragon ball Z character. Despite not appearing until the manga's second half, this character is widely considered to be the most iconic antagonist from the series due to effectively serving as the catalyst of many of the events depicted in the story, such as Goku's arrival on Earth, the Saiyans landing on Earth, and subsequently the main characters going to planet Namek.
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Arguments for marketing to developing countries
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By stimulating commerce and development at the bottom of the economic pyramid, MNCs could radically improve the lives of billions of people and help bring into being a more stable, less dangerous world.
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Criticism against marketing to developing countries
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Profit opportunities are actually quite limited, and firms looking to tackle poverty should focus on the poor mainly as producers rather than consumers.
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Case for suppliers as stakeholders of a corporation
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These stakeholders can benefit from the success of a corporation by receiving orders for products and services and can be harmed by losing orders. Similarly, these stakeholders have rights that need to be respected by corporations, such as fair treatment or loyalty.
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Case for competitors as stakeholders of a corporation
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These stakeholders have the right to freely enter and leave the market, the right to set their own prices, and a right to 'fair play'. Additionally, a market's perception of a corporation can alter based on the actions of these stakeholders.
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Ethical gift giving
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Not accepting inducements, other than small items of little value. Always declare offers of hospitality and never let hospitality influence a business decision.
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Civil regulation
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Whether through protests and boycotts, or other forms of collaboration, CSOs increasingly appear to have the power to shape, influence, or curb business practice.
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