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BGS Chapter 1-18
set of book definitions
59
Management
Undergraduate 4
06/06/2011

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Term
Government
Definition
Structures and processess in society that authoritatively make and apply policies and rules
Term
Ideology
Definition
Bundle of values that creates a world view
Term
Market Economy
Definition
an economythat emerges when people move beyond subsistence production to produce for trade and markets take a more central roll
Term
business
Definition
profit making activity that provides products and services
Term
populism
Definition
a political pattern, recurrent in world history, in which common people feel disadvantaged or oppressed and seek to take power from the collective elite
Term
society
Definition
network of human relations that includes three interacting elements: ideas, institutions, and material things
Term
values
Definition
enduring beliefs about which fundamental life choices are correct
Term
social contract
Definition
underlying agreement between business and society about basic duties and responsibilities business must carry out to retain public support. may be reflected in laws and regulations
Term
managerial capitalism
Definition
business is run by salaried managers and not owners/entrepreneurs
Term
stakeholders
Definition
an entity benefitted or burdened by actions of a corporation who can affect the corporation. corporation has an ethical duty toward these entities
Term
institutions
Definition
formal patterns of relations that link people together toward a common goal
Term
strategic management
Definition
actions a corporation does to affect its environment
Term
history
Definition
study of phenomena moving through time
Term
scenario
Definition
plausible story of furtue based on how current trends may play out
Term
discontinuities
Definition
unforecasted events that alter ongoing predictable trends
Term
globalization
Definition
creation of networks of human interaction that span worldwide distances
Term
nation state
Definition
international actor having ruling authority, citizens, and a territory with fixed borders
Term
trade liberalization
Definition
philosophy in which nations promote trade by easing restrictions
Term
cultural environment
Definition
system of shared knowledge, values, norms, customs, and rituals that are acquired by social learning (and handed down over generations)
Term
democracy
Definition
this requires popular sovereignty, political liberty, and majority rule
Term
foreign direct investment
Definition
capital investment by private firms outside their home country
Term
soft law
Definition
voluntary adopted codes of conduct setting for rules about corporate behavior. Often derived from international conduct standards
Term
society
Definition
consists of ideas, institutions, and material things
Term
tyranny
Definition
use of power beyond what is right
Term
power
Definition
force or strength to act of to compel another entity to act
Term
legitimacy
Definition
rightful use of power
Term
dominance theory
Definition
view that business is the most powerful institution because of its control of wealth. power is excessive
Term
pluralist theory
Definition
view that business power is exercised in a society multiple groups and institutions also have great power. power gets balanced out. Adam Smith is a believer
Term
trustee
Definition
an agent of a company whose corporate role puts him of her in a posistion of power over the fate of not just stockholders, but of other such as customers, employees, and communities
Term
friedmanism
Definition
sole responsibilty of a corporation is to optimize profit while obeying the law
Term
civil regulation
Definition
regulation by nonstate actors based on social norms or standards, enforced by social or market sanctions
Term
extraterritorality
Definition
application of one nation's laws within the borders of another nation
Term
norm
Definition
a standard that arises over time and is enforced by social sanction or law
Term
pollution
Definition
the presence of substances in the environment that inconvenience or endanger
Term
ecosystem
Definition
an animated iteractive realm of plants, animals, and microorganisms inhabiting an area of the nonliving environment
Term
ecosystem services
Definition
benefits to hummanity from ecosystem. outcomes such as food and fiber from natural capital
Term
biosphere
Definition
slender margin atop the earth's crust, including crust, waters, and atmosphere. it includes all that is living on earth
Term
sustainable development
Definition
nonpolluting economic growth that raises standard of living without depleting the natural resources of the earth
Term
cap and trade
Definition
permit system that allow companies to reduce emissions as fast as permits allow or buy from others
Term
emissions intensity
Definition
amount of greenhouse gases emitted per unit of economic output, measured as tons of emissions per million dollars of gross domestic product
Term
effluent
Definition
treated or untreated waste-water discharge from an industrial facility
Term
point source
Definition
discrete source of effluent such as a factory, mine, ship, or pipeline
Term
externalities
Definition
costs of production borne not by the enterprise that created them
Term
deregulation
Definition
removal or substantial reduction of regulation over industry
Term
regulation
Definition
the effort by goverments to acheive economic or social outcomes by directing the behavior of citizens, groups, and corporations
Term
rule
Definition
this has the force of law. a decree developed by an agency to implement a law passed by Congress
Term
Chevron doctrine
Definition
the general rule that federal courts should defer to agency rules that are based on reasonable interpretations of ambiguous statutes
Term
executive agency
Definition
these regulators are nominated by the President, confirmed by the senate, can be removed for any reason
Term
independent regulatory commission
Definition
this is run by 5 commissioners, staggered 6 year terms, could be no more than three from one party, nominated by the president, approved by the senate, members must be removed for cause
Term
federal register
Definition
a daily government publication containing proposed rules, final rules, and notice of other actions by federal regulatory agencies
Term
code of federal regulations
Definition
anually revised, bound volumes that compile final rules and effective regulations from all federal agencies
Term
LDC
Definition
Least developed countries
Term
states
Definition
who charters a corporation in the USA
Term
TNI
Definition
this is computed by taking the average of three ratios: foreign assets to toal assets, foreign employment to total employment, foreign sales to total sales
Term
MNC
Definition
Entity headquartered in one ountry that does part of its business in another country
Term
Portfolio Investment
Definition
purchase of stocks or bonds in a foreign company by individuals or mutual funds
Term
sullivan's principle
Definition
a 1977 code of conduct that required multinational corporations to do business in a nondiscriminatory way in South Africa
Term
Internation Code of Conduct
Definition
aspirational statements, policies, principles for foreign operations that a multinational corporation voluntarily agrees to follow
Term
alien tort claims act
Definition
a 1789 law permitting foreign citizens to litigate alleged violations of international law in US districts court
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