COMM1100 Business Decision Making Review

Vocabulary flashcards summarizing key concepts related to the COMM1100 Business Decision Making course.

Academic Integrity

The commitment to honesty, trust, fairness, respect, and responsibility in academia, avoiding all forms of plagiarism and other dishonest behaviors.

Corporate Responsibility (CR)

A company's commitment to operating ethically and sustainably, going beyond profit maximization to make positive impacts on society, the environment, and stakeholders.

Stakeholders

Individuals or groups that can affect or be affected by an organization’s decisions and actions, including customers, employees, investors, suppliers, and the community.

Normative Decision-Making

An approach focused on determining the ethically right actions based on widely accepted standards and principles.

Instrumental Decision-Making

An approach that centers on the effectiveness of decisions in achieving specific business objectives such as financial performance and compliance.

Problem Set

An assessment task aimed at applying theoretical knowledge to practical scenarios in a structured format.

Participation Marks

Marks awarded based on attendance and engagement in tutorial sessions, averaging the best six out of eight possible weekly tutorial marks.

Yellowbox

A framework or concept utilized in the course to discuss business decision-making and the economic insights relevant to starting a business.

Legal Considerations

Aspects of decision-making in business that involve compliance with relevant laws and regulations that can either constrain or enable business operations.

Consumer Relations Decisions

Business decisions focused on managing and improving relationships with customers to enhance satisfaction and loyalty.