Intro to Business Chapter 4 & 14

Social Audit

A systematic evaluation of how well a firm is meeting its ethics and social responsibility goals

Sarbanes — Oxley Act

Federal legislation passed in 2002 that sets higher ethical standards for public corporations and accounting firms

What do key provisions of the Oxley Act limit?

Conflict of interest issues and require financial officers and CEO’s to certify the validity of their financial statements

Consumerism

A social movement that focuses on four key consumer rights

What are the four key consumer rights?

1. The right to be safe

2. The right to be informed

3. The right to choose

4. The right to be heard

SWOT Analysis

A strategic planning tool that helps management evaluate an organization in terms of internal strengths and weaknesses and external opportunities and threats

Contingency Planning

Planning for unexpected events usually involving a range of scenarios and assumptions that differ from the assumptions behind the core plans