Ch05_Keyterms - the organizations shared values in their...

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KEY TERMS – CHAPTER 5 classical view The view that management’s only social responsibility is to maximize profits. socioeconomic view The view that management’s social responsibility goes beyond making profits to include protecting and improving society’s welfare. social obligation When a firm engages in social actions because of its obligation to meet certain economic and legal responsibilities. social responsiveness When a firm engages in social actions in response to some popular social need . social responsibility A business’s intention, beyond its legal and economic obligations, to do the right things and act in ways that are good for society . social screening Applying social criteria (screens) to investment decisions. greening of management The recognition of the close link between an organization’s decisions and activities and its impact on the natural environment. values-based management An approach to managing in which managers are guided by
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Unformatted text preview: the organizations shared values in their management practices. ethics Principles, values, and beliefs that define what is right and wrong behavior. values Basic convictions about what is right and wrong. ego strength A personality measure of the strength of a persons convictions. locus of control A personality attribute that measures the degree to which people believe they control their own fate. code of ethics A formal statement of an organizations primary values and the ethical rules it expects its employees to follow . whistleblower Individuals who raise ethical concerns or issues to others inside or outside the organization. social entrepreneur An individual or organization who seeks out opportunities to improve society by using practical, innovative, and sustainable approaches. social impact management An approach to managing in which managers examine the social impacts of their decisions and actions....
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This note was uploaded on 06/30/2011 for the course ECO 4701 taught by Professor Ahmed during the Spring '11 term at Andhra University.

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Ch05_Keyterms - the organizations shared values in their...

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