Ch. 6 BUSN

Social Responsibility

A business's intention, beyond its economic and legal obligations, to pursue long-term goals that are good for society.

Social Obligation

When a firm engages in social actions to meet certain economic and legal responsibilities.

Social Responsiveness

When a firm engages in social actions in response to popular social needs.

Ethical Dilemma

A situation in which an individual must decide whether to pursue an action that may benefit them or the organization but is unethical.

Moral Development

The process by which individuals develop a sense of right and wrong, which influences ethical behaviour.

Ego Strength

The capacity of an individual to follow their convictions even when faced with opposition.

Locus of Control

The degree to which individuals believe they have control over the outcomes of their actions.

Stakeholder Approach

An approach to organizational responsibility that considers multiple stakeholders when making decisions.

Legal Approach

The strategy of organizations to comply with environmental laws and regulations without going beyond them.

Activist Approach

A strategy where organizations actively engage in practices that respect and preserve the earth's natural resources.

Corporate Social Responsibility (CSR)

The concept that businesses should be accountable for their impact on society and the environment.

Whistleblower

An employee who reports unethical or illegal activities within the organization.

Global Reporting Initiative (GRI)

A framework for organizations to report their sustainability impact and performance.

ISO 14000

A family of international standards for environmental management that helps organizations minimize their impact on the environment.

Values-Based Management

An approach in which managers establish and uphold an organization’s shared values.

Employee Volunteering

Corporate policies that encourage employees to engage in community service and volunteer activities.

Social Entrepreneurship

The practice of using business principles to create social or environmental change.

Ethics Training

Programs that educate employees about ethical behaviour and decision-making.

Issue Intensity

The significance of an ethical issue, influenced by factors like the probability and consequences of harm.