ADM 1301 Study Guide - Final Guide: Crisis Management, Consequentialism, United Nations Global Compact

• School: University of Ottawa
• Department: Administration
• Course: ADM 1301
• Professor: All

Document Summary

The socioeconomy: business corporations, partnerships, proprietorships, government federal, provincial, municipal, civil society communities, ngos, charities, volunteers, community". Drivers of change: demographics, technological advances, globalization. Integrity: the appropriateness of a corporation"s behavior and adherence to moral guidelines. Economic system: arrangement using means of production to meet the needs and wants of society. Capitalism: allows for private ownership of the means of production; assumes economic decision making is in the hands individuals or enterprises expecting to make a profit. Free enterprise: characterized by ownership of private property; profit motive; competitive market system; limited involvement by government. Laissez-faire capitalism: minimum interference by the government in business affairs. Responsible enterprise: operating as a free enterprise but incorporating accountability. Stakeholder capitalism: corporations accept broader obligations beyond financial ones for shareholders. Two doctrines: concession: incorporation was conferred by public act no by private agreements among people, freedom of association: takes more than a formal agreement to maintain a corporation.