Podcast
Questions and Answers
What is one key focus of sustainable development frameworks?
What is one key focus of sustainable development frameworks?
- Reducing competition among businesses
- Maximizing short-term profits
- Promoting monopolies in the market
- Balancing economic growth with environmental protection (correct)
Corporate responsibility only focuses on a company's legal obligations and does not involve ethical considerations.
Corporate responsibility only focuses on a company's legal obligations and does not involve ethical considerations.
False (B)
What term describes the idea that businesses have a responsibility to consider the interests of all stakeholders?
What term describes the idea that businesses have a responsibility to consider the interests of all stakeholders?
Stakeholder Theory
The concept of ______ refers to the ways in which a business engages with its community and society at large.
The concept of ______ refers to the ways in which a business engages with its community and society at large.
Match the following concepts with their descriptions:
Match the following concepts with their descriptions:
What is the main focus of corporate responsibility (CR)?
What is the main focus of corporate responsibility (CR)?
Stakeholder theory suggests that only shareholders should have interests considered in business decisions.
Stakeholder theory suggests that only shareholders should have interests considered in business decisions.
What does sustainable development (SD) refer to?
What does sustainable development (SD) refer to?
Corporate __________ focuses on a company's responsibility towards society and the environment.
Corporate __________ focuses on a company's responsibility towards society and the environment.
Which of the following is a principle of business ethics?
Which of the following is a principle of business ethics?
Name one motivation for pursuing a corporate responsibility policy.
Name one motivation for pursuing a corporate responsibility policy.
Which of the following approaches is part of the conventional frameworks for dealing with environmental issues?
Which of the following approaches is part of the conventional frameworks for dealing with environmental issues?
Business ethics is concerned with the __________ of business practices.
Business ethics is concerned with the __________ of business practices.
Corporate citizenship involves a company's participation in public debates and civil society.
Corporate citizenship involves a company's participation in public debates and civil society.
What is one significant reason for the emergence of the corporate responsibility agenda?
What is one significant reason for the emergence of the corporate responsibility agenda?
What is a key factor in defining sustainability in relation to business?
What is a key factor in defining sustainability in relation to business?
The significance of sustainable development for business is primarily focused on short-term financial benefits.
The significance of sustainable development for business is primarily focused on short-term financial benefits.
The framework for business practices that prioritize environmental concerns is referred to as __________ development.
The framework for business practices that prioritize environmental concerns is referred to as __________ development.
What role does data gathering play in the process of corporate responsibility?
What role does data gathering play in the process of corporate responsibility?
What is the main idea behind sustainable development in business?
What is the main idea behind sustainable development in business?
Corporate social responsibility (CSR) is primarily concerned with maximizing shareholder value.
Corporate social responsibility (CSR) is primarily concerned with maximizing shareholder value.
What does stakeholder theory emphasize in business?
What does stakeholder theory emphasize in business?
The practice of ensuring that a company's operations reflect ethical considerations is known as __________.
The practice of ensuring that a company's operations reflect ethical considerations is known as __________.
Match the following concepts to their definitions:
Match the following concepts to their definitions:
Which of the following is NOT a principle of corporate citizenship?
Which of the following is NOT a principle of corporate citizenship?
Global warming is considered a business problem only for industries like oil and gas.
Global warming is considered a business problem only for industries like oil and gas.
Why is the concept of corporate citizenship important for businesses?
Why is the concept of corporate citizenship important for businesses?
__________ refers to the ethical responsibility of businesses to ensure their operations are not harmful to society or the environment.
__________ refers to the ethical responsibility of businesses to ensure their operations are not harmful to society or the environment.
Match the following terms to their associated practices:
Match the following terms to their associated practices:
Which of the following is a commonly cited benefit of integrating sustainability into business practices?
Which of the following is a commonly cited benefit of integrating sustainability into business practices?
Stakeholder theory suggests that only shareholders should have a say in a company's operations.
Stakeholder theory suggests that only shareholders should have a say in a company's operations.
What role does globalization play in corporate responsibility?
What role does globalization play in corporate responsibility?
The __________ is a framework for assessing the environmental impacts of business practices.
The __________ is a framework for assessing the environmental impacts of business practices.
Flashcards
Corporate Responsibility (CR)
Corporate Responsibility (CR)
A company's commitment to ethical and sustainable practices beyond its legal obligations.
Sustainable Development (SD)
Sustainable Development (SD)
Development that meets the needs of the present without compromising the ability of future generations to meet their own needs.
Corporate Citizenship
Corporate Citizenship
The role and responsibilities of a business in society relating to social and environmental aspects.
Business Ethics
Business Ethics
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Stakeholder Theory
Stakeholder Theory
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Free Market View of CR
Free Market View of CR
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Shared Responsibility
Shared Responsibility
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Self-Interest
Self-Interest
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Mutual Interest
Mutual Interest
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Value Clarification
Value Clarification
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Responsibility Negotiation
Responsibility Negotiation
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Data Gathering
Data Gathering
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Audit (in CR context)
Audit (in CR context)
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Sustainable Transport
Sustainable Transport
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Power (in business context)
Power (in business context)
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Global Warming
Global Warming
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Sustainable Development
Sustainable Development
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Corporate Responsibility
Corporate Responsibility
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Business Power
Business Power
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Equal Opportunities in Business
Equal Opportunities in Business
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Macroeconomic Policy
Macroeconomic Policy
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Deregulation
Deregulation
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Regulation
Regulation
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Globalization
Globalization
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Employment
Employment
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Inflation
Inflation
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Economic Growth
Economic Growth
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Unemplyment
Unemplyment
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Globalization effects
Globalization effects
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Aging Population
Aging Population
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Class Structure
Class Structure
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Inequality
Inequality
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Self-regulation
Self-regulation
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Study Notes
Book Title: The Business Environment
- Second Edition
- Authors: Paul Wetherly and Dorron Otter
- Publisher: Oxford University Press
Contents
- List of cases
- About the authors
- About the book
- How to use this book
- How to use the Online Resource Centre
- Acknowledgements
- Detailed Contents (including specific chapter titles and authors)
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