Business Management

Flashcards for a business management class.  I need these to study for the exam.

32 cards   |   Total Attempts: 182
  

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Cards In This Set

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Set standards as to what is good or bad, or right or wrong in one’s conduct.
Ethics
Is the obligation of an organization to act in ways that serve the interests of its stakeholders.
Corporate social responsibility
Expose the misdeeds of others in organizations.
Whistleblowers
Avoids social responsibility and reflects mainly economic priorities.
Obstructionist
Seeks to protect the organization by doing the minimum legally required to satisfy social expectations
Defensive
Accepts social responsibility and tries to satisfy prevailing economic legal and ethical performance criteria.
Accommodative
Meets all the criteria of social responsibility, including discretionary performance.
Proactive
a systematic assessment of an organization’s accomplishments in areas of social responsibility.
Social audit
CHECKLIST FOR MAKING ETHICAL DECISIONS
1. Recognize the ethical dilemma. 2. Get the facts. 3. Identify your options. 4. Test each option: Is it legal? Is it right? Is it beneficial 5. Decide which option to follow. 6. Double check decision by asking follow-up questions: “How would I feel if my family found out about my decision?” “How would I feel about this if my decision were printed in the local newspaper?” 7. Take action.
the process of setting objectives and determining how to accomplish them
Planning
Identify the specific results or desired outcomes that one intends to achieve.
Objectives
A statement of action steps to be taken in order to accomplish the objectives
Plan
Steps in the planning process
(1) Define your objectives: identify desired outcomes/results specifically (2) Determine where you stand vis-à-vis objectives: evaluate current accomplishments relative to desired results (3) Develop premises regarding future conditions: anticipate future events (4) Analyze and choose among action alternatives: carefully evaluate possible actions (5) Implement the plan and evaluate results: take action and measure your progress towards objectives
Benefits of planning
- Improves focus and flexibility - Improves action orientation - Improves coordination - Improves time management - Improves control
Length of :

Short-range plans = Intermediate-range plans = 1 to 2 years Long-range plans = 3 or more years
Short = 1 year or less
Intermediate= 1 to 2 years
Long= 3 or more years

- People vary in their capability to deal effectively with different time horizons. - Higher management levels focus on longer time horizons.