Corporate Social Responsibility and Business Essentials

These flashcards cover key concepts and vocabulary related to Corporate Social Responsibility and fundamental business principles based on lecture notes.

Corporate Social Responsibility (CSR)

Major area of business focused on ethical practices, including human rights and environmental impact.

On-the-job training

A method of training employees while they perform their job tasks, such as apprenticeship in an auto shop.

S Corporation advantage

No double taxation on corporate profits.

Equity financing disadvantage

Impacts company control by diluting ownership.

Green economy

An economic system aimed at reducing environmental risks and ecological scarcities.

Social audit

A review of a company's social performance, assessing areas like labor practices and community impact.

Business asset

Items of economic value owned by a business, including intellectual property.

Limited partnership

A business structure with at least one general partner who has unlimited liability and one or more limited partners.

E-commerce

Online business transactions, including Business-to-Business (B2B) and Business-to-Consumer (B2C).

Mediation

A process involving a third party to help resolve disputes between two parties.

Autocratic leadership

A leadership style characterized by individual control over all decisions with little input from group members.

GAAP

Generally Accepted Accounting Principles, the standard framework of guidelines for financial accounting.

Cash flow

The total amount of money being transferred into and out of a business.

Personal ethics

The moral principles that guide a person's decisions and behavior.

Unlimited liability in partnership

A legal obligation where all partners are personally liable for the business's debts.

Intrinsic motivator

A factor that drives an individual from within, such as a sense of purpose or fulfillment in their work.