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Chapter 4: The Institutionalization of Business Et.. - Flashcards

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Class:MGT 4334 - Ethical Leadership
Subject:Management
University:Virginia Polytechnic Institute And State University
Term:Spring 2012
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Voluntary Practices Include the beliefs, values, and voluntary contractual obligations of a business
Better Business Bureau Leading self-regulatory body that provides directions for managing customer disputes and reviews advertising cases.
Mandated Boundaries Externally imposed boundaries of conduct, such as laws, rules, regulations, and other requirements
Civil Law Defines the rights and duties of individuals and organizations (including businesses)
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Criminal Law Not only prohibits specific actions - such as fraud, theft, or securities trading violations - but also imposes fines or imprisonment as punishment for breaking the law
Procompetitive Legislation Enacted to encourage competition and prevent activities that restrain trade
Consumer Protection Law First law was passed in 1906, partly in response to a novel by Upton Sinclair (The Jungle)
Occupational Safety and Health Administration Enforces the act, makes regular surprise inspections to ensure that businesses maintain safe working environments
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Environmental Protection Agency Created in 1970 to coordinate environmental agencies involved in enforcing the nation's environmental laws
Public Company Accounting Oversight Board Monitors accounting firms that audit public corporations and establishes standards and rules for auditors in accounting firms
Consumer Financial Protection Bureau An independent agency within the Federal Reserve System that "regulates the offering and provision of consumer financial products or services under the Federal consumer financial laws"
Cause-related Marketing Ties an Organization's products directly to a social concern through a marketing program
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Strategic Philanthropy Synergistic and mutually beneficial use of an organization's core competencies and resources to deal with key stakeholders so as to bring about organizational and societal benefits.
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 Voluntary PracticesInclude the beliefs, values, and voluntary contractual obligations of a business
 Better Business BureauLeading self-regulatory body that provides directions for managing customer disputes and reviews advertising cases.
 Mandated BoundariesExternally imposed boundaries of conduct, such as laws, rules, regulations, and other requirements
 Civil LawDefines the rights and duties of individuals and organizations (including businesses)
 Criminal LawNot only prohibits specific actions - such as fraud, theft, or securities trading violations - but also imposes fines or imprisonment as punishment for breaking the law
 Procompetitive LegislationEnacted to encourage competition and prevent activities that restrain trade
 Consumer Protection LawFirst law was passed in 1906, partly in response to a novel by Upton Sinclair (The Jungle)
 Occupational Safety and Health AdministrationEnforces the act, makes regular surprise inspections to ensure that businesses maintain safe working environments
 Environmental Protection AgencyCreated in 1970 to coordinate environmental agencies involved in enforcing the nation's environmental laws
 Public Company Accounting Oversight BoardMonitors accounting firms that audit public corporations and establishes standards and rules for auditors in accounting firms
 Consumer Financial Protection BureauAn independent agency within the Federal Reserve System that "regulates the offering and provision of consumer financial products or services under the Federal consumer financial laws"
 Cause-related MarketingTies an Organization's products directly to a social concern through a marketing program
 Strategic PhilanthropySynergistic and mutually beneficial use of an organization's core competencies and resources to deal with key stakeholders so as to bring about organizational and societal benefits.
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