Intro to Business and Society

Who is associated with the Social Question?

Giovanna Procacci

Who is associated with Social Science Disciplinary history?

Bjorn Wittrock

Who is associated with Dominant and Counter Ideologies?

Patricia Marchak

Who is associated with the Sociological Imagination?

Wright Mills

Who is associated with Gemeinschaft and Gesellschaft?

Ferdinand Tönnies

Who is associated with Authority in a societal context?

Max Weber

Who is associated with the Economic Problem?

Robert Heilbroner

Who is associated with Reciprocity in a societal context?

Karl Polyani

Who is associated with the Triple Bottom Line?

Kathleen McLaughlin and Doug McMillon

What is the Social Question?

Social instituions can manage poverty and social order without having providing poor people political rights.

What is Dominant Ideology?

The societal norms and values upheld by the majority of society.

What is Counter Ideology?

Alternative norms and values believed by a select few.

What is Sociological Imagination?

The relationship between personal issues and social issues. You cannot understand the individual without understanding the world associated with them.

What is Gemeinschaft and Gesellschaft?

Community and Society.

What is Authority in a societal context?

The source of power in which people believe is legitimate.

List the three types of Legitimate Authority?

Rational, Traditional, and Charismatic.

What is Rational Authority?

Authority that is legitimate on the basis of law and government.

What is Traditional Authority?

Authority that is legitimate on the basis of family values and hereditary structure.

What is Charismatic Authority?

Authority that is legitimate on the basis of genuine belief in an individual; celebrities, idols, e.t.c.

What is the economic problem?

The question of how a society can meet the material needs of its members/we are helpless as divison of labour oriented individuals.

How can a society approach meeting its members material needs?

Production and distribution.

What is reciprocity in a societal context?

The act of showing kindess in expectation of receiving it back.

What is the Triple Bottom Line?

A business’ success weighed in profile, people, and planet.

Who is associated with the term Neoliberalism?

David Harvey.

What is neoliberalism?

A policy model that liberates free market capitalism, and no government intervention, emphasizing economic control onto the private sector.

How do business benefit from enforcing the Triple Bottom Line?

It allows for an ethical approach permitting business’ social license.

What is Redistribution in the context of economic organization?

A single leader is responsible for distributing materials amongst a community.

What is Householding in the context of economic organization?

When a household is the sole material provider.

What is Alienation in a business context?

A mechanism employed to isolate workers so they work more.

What are Eternalities in a business context?

Costs as consequence of production and distribution; pollution, waste, e.t.c.

How is the French Revolution Linked to Poverty?

The French Revolution dismantled class inequality with Poverty as its main driving factor.

Define Economics.

The study of effectively producing and distributing material goods and services to a populace.

What is Procacci’s Social Theory?

The study of conflict between government and individual; how much power should the government hold over society?

What was Procacci’s definition of Social Organism?

Society operates like organs in a body; one part cannot function without the other.

What was Proccaci’s definition of Social Sickness?

To approach issues within a society like symptoms of the body; to treat through scientific methods.

Define Positivist Socialism.

The study of society through a scientific lens.

When the term Social Science coined?

1790s.

What are the three look fors when researching a society through a sociological imaginative lens?

Structure, History, and Product.

What is Scientism?

The belief that a scientific lens is the superior approach to all research.

Outline the three bias tendencies of social science researchers.

Extremly diluted theory for all of history, general theory for specific populace, and only considering modern society.

What is Empirical Evidence?

Evidence derived from study, rather than conjecture.

What is a social critic?

An individual who points out discrepancies in societal organization.

What is a social analyst?

An individual who studies why members of a society behave the way they do.

Describe Feudal Society.

Political, economic, and social mechanism that operated on class obligation. Built on social credit and land. Divine right established a clear heirarchy.

How did capitalism come to be?

After the French Revolution people desired wages, rather than living off the land. That combined with the Industrial Revolution, resulted in people putting a price on labour which meant market-driven economy.

Define Marxism.

The social theory that observes society through a lens of class struggle and critiques capitalism.

Are humans inherently selfish?

No, capitalism enforces a hyperindividualistic mindset.

Define liberalism.

A political ideology that emphasizes individual freedom, human rights, and having the government represent the ideals of the people.

Why do counter ideologies arise?

When the dominant ideology no longer aligns with reality.

Who is associated with Liberalism?

John Locke.

What is the Modern Day Dominant Ideology?

Modern Liberalism and Capitalism.

Define a Free Market.

A market built on supply and demand, with little to no government intervention.

Distinguish passive and active obedience.

Passive is abiding by the rules neutrally, and active is understanding why you’re obeying and complying willfuly.

Define a Bureaucracy.

An organization that operates on a long chain of command, in which there is a clear division of labour.

Distinguish modern and patrimonial bureaucracy.

Modern is voluntary while patrimonial is not.

Define self regulating economy.

An economy that can gradually solve its issues overtime without government intervention.

Why is capitalism NOT a self regulating market?

Without government regulation, environmental and economic exploitation would be through the roof.

Define financial short termism.

A business prioritizes short term earnings, over strategic long term growth.

Define Tariff.

A tax applied to foreign trading of goods and services.

Describe Free Trade.

A country does not discrimate against international trade.

Distinguish shareholder and stakeholder.

Shareholders make the profit and stakeholders give the profit.

List the six principals of creating value for business and society.

Company mission, company capabilities, aiming for triple bottom line, societal improvement, transforming systems, triple bottom line values.

List the three systems of approach to the economic problem.

Tradition, Command, and Market.

Explain the traditional approach to the economic problem.

Revert back to hereditry roles, to enforce clear labour structure.

Explain the command approach to the economic problem.

Implement a leader to enforce organization.

Define social science.

The academic study of science.

Define society.

A group of individuals united through economic, political, and cultural purpose.

Define Economic Individualism.

The belief an individual should have complete control of his/her economic property.

Define Legal Individualism.

The belief that legal rights should be zoned in on the individual rather than the group.

Distinguish public and private bureaucracy.

Public bureaucracy serves human rights, while private serves profit.

Define Business.

An organization with the goal of making profit.

Who is associated with the term self-regulating market?

Karl Polyani.

Who is associated with the term ficticious commodities.

Karl Polyani.

Define fictitous commodities.

Labour, Land, and Money; they are sold, but they weren’t created to be sold.

What was the Double Movement?

During the 19th century market economy was simultaneously expanding as society actively protected itself by enforcing market regulations.

Define Homo Economicus.

The label entailing humans are naturally profit maximizing creatures.

Define rationalization.

The historical shift between a traditional and emotional mindset to one dominated by efficiency, and formal rules.