What are the major themes in BSNS111? - ANS- - Pluralistic Society
- Shareholder vs economic, social, environmental wealth
- Ethics
- Sustainability
- Corporate Social Responsibility (CSR)
- Stakeholder management
- Interdependent nature of Business/Industry and Society
What is corporate soc...
BSNS111 (Business and Society) - Exam
Practice 2024-2025
What are the major themes in BSNS111? - ANS- - Pluralistic Society
- Shareholder vs economic, social, environmental wealth
- Ethics
- Sustainability
- Corporate Social Responsibility (CSR)
- Stakeholder management
- Interdependent nature of Business/Industry and Society
What is corporate social responsibility? (CSR) - ANS- The belief that organisations
and businesses should maximise their positive impacts while minimising their
harmful ones.
- give back to the community, take part in philanthropic causes, and provide positive
social value
What does philanthropic mean? - ANS- private initiatives, for the public good,
focusing on quality of life
- a person or organisation seeking to promote the welfare of others; generous and
benevolent
What are the three interacting elements between Business, Government and
Society? - ANS- 1. Ideas
2. Institutions
3. Material things
- land, natural resources, infrastructure and manufactured goods.
What is capitalism? - ANS- An economic system based on private property and free
enterprise.
- capitalism is assumed to be inevitable
- companies: businesses exist separately from owners
Profit Motive? (Free markets and capitalism) - ANS- Crucial assumption about
human nature motivated by monetary interests
Competition? (Free markets and capitalism) - ANS- makes individual pursuit of self
interest beneficial
Private property - ANS- Private ownership of the major means of production
Nested/Bullseye model - ANS- system of how business and society interacts
- Stakeholder, pluralism and system theory
, Pluralism - ANS- A theory of government that holds that open, multiple, and
competing groups can check the asserted power by any one group.
- society, system of government, or organisation that has different groups that keep
their identities while existing with other groups or a more dominant group.
Systems theory - ANS- theory that describes the interconnected elements of a
system in which a change in one element affects all of the other elements
Characteristics of an indigenous economy - ANS- 1. the philosophical space driving
economic activity is associated with the respective Indigenous worldview; and
2. an approach that values 'accumulation of sharing' (equitable distribution of wealth
amongst the community)
Utilitarian - ANS- Actions are "Good" if they create a greater balance of pleasure
over pain for the greatest
number. Focus on observable outcomes
- definition: practical
Friedman Doctrine - ANS- The business of business is business. There is one & only
one social responsibility of business. To use its resources & engage in activities
designed to increase its profits so long as it stays within the rules of the game, which
is to say, engages in open & free competition without deception or fraud.
The Invisible Hand - ANS- If everyone acts in their own shellfish interest, a positive
result will result for society (only justification for free markets)
The Social Contract - ANS- A set of understandings that characterise the relationship
between two major institutions.
Philanthropy: - ANS- contributions to charity & other worthy causes
Philanthropic responsibilities - ANS- are not literal responsibilities they are perceived
as
responsibilities as they reflect current expectations of business by the public. It is the
dairy industries philanthropic responsibility to clean up New Zealand.
Conscious Capitalism - ANS- To choose a business strategy that aids in the welfare
of individuals & the environment
CSR Greenwashing - ANS- intentionally seeking to convey the image of a socially
responsible firm when their isn't
evidence to support it
Corporate citizenship: - ANS- How companies deliver their core values in a way that
minimises harm & maximises benefits and being aware of how you are making your
money.
sustainable development - ANS- Resource use that meets human needs whilst
preserving the environment so that the needs can be met for future generations
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