Business 111 final exam

Economic Responsibility

Make a profit by producing valued products/services.

Legal Responsibility

Comply with laws and regulations (e.g. VW emissions scandal.)

Ethical Responsibility

Do what is right ethical—even beyond legal requirements (e.g. Apple slowing down phones and apologising.)

Discretionary Responsibility

Voluntary contributions to society (e.g. wildfire relief efforts.)

Reactive CSR Strategy

Doing less than expected; ignoring issues.

Defensive CSR Strategy

Acknowledging issues and taking minimal action.

Accommodative CSR Strategy

Accepting responsibility and fixing problems.

Proactive CSR Strategy

Anticipating issues and leading by example.

Shareholder Model

Business goal is to maximise profits for shareholders (Friedman.)

Stakeholder Model

Business goal is long-term survival by balancing all stakeholders (employees customers society.)

Shared Value

Creating economic value in a way that also creates value for society (Porter & Kramer.)

Environmental Sustainability

Preserving natural systems reducing carbon and protecting resources.

Social Sustainability

Promoting fairness human rights education and health equity.

Economic Sustainability

Ensuring long-term profitability and stakeholder well-being.

Brundtland Definition of Sustainability

"Meeting present needs without compromising future generations’ ability to meet their own."

Social Business

A model that addresses a social problem and reinvests profits into the mission.

Individualism (Ethical Theory)

Ethical decisions should serve long-term self-interest.

Utilitarianism (Ethical Theory)

Maximising overall happiness.

Justice Theory (Ethical Theory)

Fairness equity and impartiality in processes and outcomes.

Moral Rights Theory

Protecting fundamental human rights like privacy speech and safety.

Tuckman’s Forming Stage

Team comes together and defines purpose.

Tuckman’s Storming Stage

Conflict over roles responsibilities and goals.

Tuckman’s Norming Stage

Establishing norms cohesion and collaboration.

Tuckman’s Performing Stage

High-functioning productive teamwork.

Tuckman’s Adjourning Stage

Team disbands after achieving goals.

Group vs Team: Group

Individuals with a shared interest but little interdependence.

Group vs Team: Team

Individuals with complementary skills common purpose and interdependence.

Psychological Intimacy

Emotional closeness and personal sharing among team members.

Integrated Involvement

Connection through shared tasks and work activities.

Clan Culture

Internal focus + flexibility; family-like collaborative environment.

Adhocracy Culture

External focus + flexibility; innovative and adaptive environment.

Hierarchy Culture

Internal focus + control; structured and formal environment.

Market Culture

External focus + control; goal-driven and competitive environment.

Hierarchical Structure

Traditional vertical chain of command.

Functional Structure

Departments organized by function (e.g. marketing finance.)

Divisional Structure

Units organized by product lines or geography.

Matrix Structure

Dual reporting to both functional and project managers.

Flat Structure

Few management layers more employee autonomy.

Team-Based Structure

Organised around cross-functional teams.

Network Structure

Core company plus partnerships and outsourcing.

Process-Based Structure

Organised around workflows and processes.

Circular Structure

Leadership at the centre spreading outward.

Line Structure

Straight vertical chain of authority.

Mechanistic vs Organic

Mechanistic is rigid and controlled; organic is flexible and decentralised.

Differentiation vs Integration

Differentiation divides tasks; integration coordinates across tasks.

Structural Life Cycle Stage

Structure evolves as the organisation grows and changes.

Strategy–Structure Link

Structure should align with organisational strategy for effectiveness.

Terminal Values

Desired end-states (e.g. happiness wealth.)

Instrumental Values

Ways to achieve end-states (e.g. honesty ambition.)

Kotahitanga

Unity and collective action.

Kaitiakitanga

Guardianship and care for the environment.

Wairuatanga

Spiritual well-being and connection.

Manaakitanga

Hospitality generosity and caring for others.

Whanaungatanga

Kinship relationships and sense of belonging.

Tikanga

Māori ethical principles and protocols guiding behaviour and decisions.

DEI Importance

Promotes innovation representation retention and employee well-being.

Management

Organising coordinating and controlling resources.

Leadership

Influencing and inspiring change toward a vision.

Technical Skills

Proficiency in specific tools and processes.

Conceptual Skills

Strategic thinking and problem-solving capability.

People Skills

Communication empathy emotional intelligence.

Blake & Mouton 9 9 Style

High concern for both people and productivity; considered ideal leadership style.

Transactional Leadership

Task-oriented; uses rewards and punishments.

Transformational Leadership

Inspires and motivates; drives change.

Shared/Distributed Leadership

Leadership roles are distributed across multiple team members.