Business Management Module 2

Dynamic environment - correct answers an environment in which the rate of change is fast Environmental complexity - correct answers the number and the intensity of external factors in the environment that affect organizations Simple environment - correct answers an environment with few environmental factors Complex environment - correct answers an environment with many environmental factors Uncertainty - correct answers extent to which managers can understand or predict which environmental changes and trends will affect their businesses General environment - correct answers the economic, technological, sociocultural, and political/legal trends that indirectly affect all organizations Specific environment - correct answers the customers, competitors, suppliers, industry regulations, and advocacy groups that are unique to an industry and directly affect how a company does business Business confidence indices - correct answers indices that show managers' level of confidence about future business growth Technology - correct answers the knowledge, tools, and techniques used to transform inputs into outputs Competitors - correct answers companies in the same industry that sell similar products or services to customers Competitive analysis - correct answers a process for monitoring the competition that involves identifying competition, anticipating their moves, and determining their strengths and weaknesses Buyer dependence - correct answers the degree to which a supplier relies on a buyer because of the importance of that buyer to the supplier and the difficulty of finding other buyers for its products Industry regulation - correct answers regulations and rules that govern the business practices and procedures of specific industries, businesses, and professions Advocacy groups - correct answers concerned citizens who band together to try to influence the business practices of specific industries, businesses, and professions Public communications - correct answers an advocacy group tactic that relies on voluntary participation by the news media and the advertising industry to get the advocacy group's message out Media advocacy - correct answers an advocacy group tactic that involves framing issues as public issues; exposing questionable, exploitative, or unethical practices; and forcing media coverage by buying media time or creating controversy that is likely to receive extensive news coverage Product boycott - correct answers an advocacy group tactic that involves protesting a company's actions by persuading consumers not to purchase its product or service Environmental scanning - correct answers searching the environment for important events or issues that might affect an organization Internal environment - correct answers the events and trends inside an organization that affect management, employees, and organizational culture Ethics - correct answers the set of moral principles or values that defines right and wrong for a person or group Ethical behavior - correct answers behavior that conforms to a society's accepted principles of right and wrong Workplace deviance - correct answers unethical behavior that violates organizational norms about right and wrong Production deviance - correct answers unethical behavior that hurts the quality and quantity of work produced Property deviance - correct answers unethical behavior aimed at the organization's property or products Employee shrinkage - correct answers employee theft of company merchandise Personal aggression - correct answers hostile or aggressive behavior toward others Ethical intensity - correct answers the degree of concern people have about an ethical issue Social consensus - correct answers agreement on whether behavior is bad or good Probability of effect - correct answers the chance that something will happen that results in harm to others Temporal immediacy - correct answers the time between an act and the consequences the act produces Proximity of effect - correct answers the social, psychological, cultural, or physical distance between a decision maker and those affected by his or her decisions Postconventional level of moral development - correct answers the third level of moral development, in which people make decisions based on internalized principles Principle of long-term self-interest - correct answers an ethical principle that holds that you should never take any action that is not in your or your organization's long-term self-interest Principle of religious injunctions - correct answers an ethical principle that holds that you should never take any action that is not kind and that does not build a sense of community Principle of government requirements - correct answers an ethical principle that holds that you should never take any action that violates the law, for the law represents the minimal moral standard Principle of individual rights - correct answers an ethical principle that holds that you should never take any action that infringes on others' agreed-upon rights Overt integrity test - correct answers a written test that estimates job applicants' honesty by directly asking them what they think or feel about theft or about punishment of unethical behaviors Personality-based integrity test - correct answers a written test that indirectly estimates job applicants' honesty by measuring psychological traits, such as dependability and conscientiousness Whistleblowing - correct answers reporting others' ethics violations to management or legal authorities Social responsibility - correct answers a business's obligation to pursue policies, make decisions, and take actions that benefit society Shareholder model - correct answers a view of social responsibility that holds that an organization's overriding goal should be profit maximization for the benefit of shareholders Stakeholder model - correct answers a theory of corporate responsibility that holds that management's most important responsibility, long-term survival, is achieved by satisfying the interests of multiple corporate stakeholders Stakeholders - correct answers a theory of corporate responsibility that holds that management's most important responsibility, long-term survival, is achieved by satisfying the interests of multiple corporate stakeholders Primary stakeholder - correct answers any group on which an organization relies for its long-term survival Secondary stakeholder - correct answers any group that can influence or be influenced by a company