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Business - Coggle Diagram

- - - - Institutions
        
        Government, governmental institutions, labour unions, media, business organizations
    - - Meet humanity needs
      - social responsibility
  - - - Ethics of business
        
        morally appropite behaviour in manegerial decision making
      - Stakeholder
        
        individual or group to achieve a organization purpose
      - Corporate social Responsibility (CSR)
        
        balance between economics, social and environmental responsabilities
      - Corporate sustainability (CS)
        
        economic, ethical and social responsibilities
      - Triple bottom line (3E)
        
        performance according people, planet and profits
      - Corporate citizenship
        
        role and complete impact on society and environment
      - Ethical Thinking
        
        Deontologial thinking
        
        Do the right thing even the consequences
        
        Teological ethics
        
        Decisions based on consequences
        
        Virtue ethics
    - - not arbitrary or self-serving
    - - Prepare to face real moral dilemmas
      - Avoid plagiarism
      - Not copying from other students
      - Not cheating
      - No posting unfair
  - - - improve standard living
    - - Not written contract
- - - - make decisions expecting to earn a profit
      - Fundamentals
        
        Right of Private Property
        
        Fundamentals
        
        individual are allowed to accumulate property
        
        individualism and economic freedom
        
        ethics
        
        taxation is one method for redistributing wealth
        
        government actions
        
        Intellectual property
        
        umbrella for patents
        
        Individualism and Economics Freedom
        
        Fundamental
        
        individual initiative and self-interest
        
        Economic freedoms with few restrictions
        
        Ethics
        
        emphasis on individuals
        
        whole society is viewed rather than parts
        
        freedom of employees are restricted
        
        enterprise must be registered to the government
        
        Equality of opportunity
        
        fundamental
        
        everyone can participate
        
        Ethics
        
        equality of opportunity lead to economics or income equality
        
        Desire adequate income, health care, good education and retirement security
        
        Competition
        
        Fundamental
        
        rival sellers seek to provide goods and services to many buyers
        
        competition ensure lowest costs, reduce waste and regulates prices
        
        Ethics
        
        Oligopoly
        
        government regulate prices
        
        price leadership
        
        barriers to entry
        
        Perfect competition
        
        ideal, no longer exists
        
        Profits
        
        Fundamentals
        
        excess of revenues over expenses
        
        action to do things
        
        generate competence between firms
        
        Ethics
        
        appropriate to earn a profit
        
        inappropriate maximizing profits
        
        Work Ethic
        
        Fundamentals
        
        code of values
        
        nature activity
        
        work is desirable
        
        Ethics
        
        Changed as a result of government programs
        
        Employment insurance payments
        
        work conditions, fringe benefits and salaries
        
        Consumer sovereignty
        
        Fundamentals
        
        have and exercise power over producers through decision by purchasing goods and services
        
        more competitive, stronger the power of consumers
        
        Ethics
        
        are no aware of all alternatives
        
        sometimes there are no choices
        
        proliferation of products
        
        government regulate public interest
        
        Government
        
        Fundamentals
        
        "Leave us alone"
        
        involvement is advocated
        
        law regulator
        
        contractual arrangement
        
        Ethics
        
        Involved through subsidies, taxation, tariffs, regulations and legislation, loans, etc
        
        not a monitor, also an active participant
      - forms
        
        Consumer capitalism
        
        Producer capitalism
        
        Family capitalism
        
        Frontier capitalism
        
        State capitalism
        
        state capitalism
      - ethics
        
        Challenges
        
        Greed
        
        own self-interest
        
        Economics downturns
        
        economic cycles based on market's behaviour
        
        Business failures
        
        weak corporations and shift resources
        
        income and wealth inequity
        
        inevitable and neccesary
        
        corporate and wrongdoing
        
        crime exists
      - Ethics
        
        produces wealth
        
        promotes prosperity
        
        better well-being
        
        respects freedom
        
        build business culture
        
        social responsibility
    - - Private enterprise system
    - - minimum interference by the government
    - - free enterprise with accountability
  - - - Monopolistic behaviour in some business corporations
      - Stock manipulation
      - misleading advertising
      - misrepresentation of financial information
    - - Owners
        
        Direct individual owners
        
        employees participate in ownership
      - Board of directors
        
        elected by shareholders
        
        tasks
        
        select, evaluate and terminate employment of top management
        
        Provide financial statements
        
        direct and plan strategic planning
        
        participate in major decisions
        
        fulfill legal requirements
      - Managers
        
        oversee operations
        
        knot how to direct corporations affairs
        
        knowledge of the ethics of business and social and environment responsability
  - - - owners take all the responsability
    - - Separate legal entity is created
      - limited liability
      - Doctrines
        
        Concession
        
        conferred by public act and could not be generated by private agreements among persons to associate together for business purposes
        
        Freedom of association
        
        more than a formal agreement
        
        state and the corporation
        
        incorporation is a right, not a privilege
        
        safeguards to protect investors and creditors
        
        confidence necessary for the legitimacy of the business
    - - Legitimacy
        
        trust and confidence, system operates in the public interest
      - Social licence
        
        privilege of operating with minimal formalized restrictions
        
        maintaining public trust