Chap glossary for Certo's Modern Management, 9ed'

1
Code of ethics
Corporate social responsibility
Ethics
Social audit
Social obligation approach
Social responsibility approach
Social responsiveness
Social responsiveness approach
Stakeholders
2
A code of ethics is a formal statement that acts
as a guide for making decisions and acting within
an organization.
3
Corporate social responsibility is the managerial
obligation to take action that protects and
improves both the welfare of society as a whole
and the interests of the organization.
4
Ethics is our concern for good behavior our
obligation to consider not only our own personal
wellbeing but also that of other human beings.
5
A social audit is the process of measuring the
present social responsibility activities of an
organization. It monitors, measures, and
appraises all aspects of an organizations social
responsibility performance.
6
The social obligation approach is an approach to
meeting social obligations that considers
business to have primarily economic purposes and
confines social responsibility activity largely
to conformance to existing legislation.
7
The social responsibility approach is an approach
to meeting social obligations that considers
business as having both societal and economic
goals.
8
Social responsiveness is the degree of
effectiveness and efficiency an organization
displays in pursuing its social responsibilities.
9
The social responsiveness approach is an approach
to meeting social obligations that considers
business to have societal and economic goals as
well as the obligation to anticipate potential
social problems and to work actively toward
preventing them from occurring.
10
Stakeholders are all individuals and groups that
are directly or indirectly affected by an
organizations decisions.