Business Environment and Corporate Social Responsibility
General Environment: Factors Influencing Business
The general environment refers to factors not directly linked to the company but often have a decisive influence on it.
Components of the General Environment
- Budget: Unemployment rates, inflation, and interest rates determine the wages a company pays, the cost of loans, and sales trends. Example: During an economic crisis, every company suffers. A good analysis of the economic environment would anticipate this situation.
- Technology: Technical advances
Corporate Social Responsibility and Ethics in Global Business
Ethics, Corporate Social Responsibility, and Sustainability
Ethics
Ethics is the study of morality and standards of conduct. It is important in international marketing because ethical behavior often varies from one country to another. Ethics manifests in the ways societies and companies address issues such as employment conditions, human rights, and corruption.
Action Being Taken by Selected Industrialized Countries and Companies to Be More Socially and Environmentally Responsive to World Problems
During
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Test 1 Study Guide: Chapter 1
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What is a risk?
A risk is the potential for loss or negative outcomes from decisions made in business.
What are efficiency and effectiveness?
- Efficiency: Doing tasks with minimal waste.
- Effectiveness: Achieving desired goals and outcomes.
What are the different resources of a business?
- Human Resources: Skills and labor of employees.
- Financial Resources: Funds for operations.
- Physical Resources: Tangible assets like equipment.
- Intellectual Resources: Knowledge and patents.
Ethical Decision-Making in Business: Strategies and Insights
Chapter 9: Ethical Decision-Making in Business
1. Key Goals of Successful Ethics Training Programs
Successful ethics training programs play a pivotal role in cultivating a culture of integrity within organizations by pursuing several key objectives.
- Firstly, they aim to provide comprehensive education to employees regarding the organization’s ethical standards, policies, and expectations, including relevant laws, regulations, and societal norms.
- By enhancing awareness of potential ethical dilemmas,
Competitive Advantage: Sources, Strategies, and Sustainability
Analysis of Competitive Advantage
Nature and Sources of Competitive Advantage
- Definition: Competitive advantage is when a firm consistently earns a higher rate of profit than its competitors. This definition can also encompass firms with lower profitability but greater market share, advanced technology, strong customer loyalty, or executive perks.
Emergence of Competitive Advantage
- External Sources of Change: Changes in the external environment must have differential effects on firms due to their distinct
Key Concepts in Financial Markets and Interest Rates
Key Concepts in Financial Markets
1) Every financial market performs the following function:
D) It channels funds from lenders-savers to borrowers-spenders.
4) Which of the following can be described as involving direct finance?
B) A corporation buys commercial paper issued by another corporation.
5) Which of the following can be described as involving indirect finance?
A) A corporation takes out loans from a bank.
B) People buy shares in a mutual fund.
C) A corporation buys commercial paper in a secondary
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