Big Questions
Why is business needed? ie. What are the business drivers?
What do we hope to achieve? ie. What does success look like?
Who is affected by the business and in what way?
What are the restraining forces against the business?
Definitions
- ethics The basic concepts and fundamental principles of decent human conduct. It includes study of universal values such as the essential equality of all men and women, human or natural rights, obedience to the law of land, concern for health and safety and, increasingly, also for the natural environment.
- moral Private conduct based on strict adherence to a sanctioned or accepted code or dogma of what is right or wrong, particularly as proclaimed in a sacred book, or by a non-secular group or sect. Once practically interchangeable with 'ethical,' this term has acquired quasi-religious connotations and has moved closer to 'righteous' following the recent (second half of the 20th century) schism between private morality and public morality.
- C.S.R. Corporate social responsibility is a company’s sense of responsibility towards the community and environment (both ecological and social) in which it operates. Companies express this citizenship (1) through their waste and pollution reduction processes, (2) by contributing educational and social programs, and (3) by earning adequate returns on the employed resources.
- shared value Generating economic value in a way that also produces value for society by addressing its challenges. A shared value approach reconnects company success with social progress.
- philanthropy Philanthropy is an idea, event, or action that is done to better humanity and usually involves some sacrifice as opposed to being done for a profit motive. Acts of philanthropy include donating money to a charity, volunteering at a local shelter, or raising money to donate to cancer research.
- sustainability Continued development or growth, without significant deterioration of the environment and depletion of natural resources on which human well-being depends. This definition measures income as flow of goods and services that an economy can generate indefinitely without reducing its natural productive capacity.
- Kyoto protocol Industrial agreement negotiated in 1997 in Kyoto (Japan) between industrialized countries (excluding the US) to reduce emissions of greenhouse gases.
- carbon footprint The total of greenhouse gas emissions produced by an individual, an event, a product or an organization generally expressed in tons of carbon dioxide. A carbon footprint for a business could be the emissions produced in the manufacture of a product or the amount of electricity consumed for its daily operation.
- stakeholders A person, group or organization that has interest or concern in an organization. Stakeholders can affect or be affected by the organization's actions, objectives and policies. Some examples of key stakeholders are creditors, directors, employees, government (and its agencies), owners (shareholders), suppliers, unions, and the community from which the business draws its resources. Not all stakeholders are equal. A company's customers are entitled to fair trading practices but they are not entitled to the same consideration as the company's employees. An example of a negative impact on stakeholders is when a company needs to cut costs and plans a round of layoffs.
- stakeholder theory A conceptual framework of business ethics and organizational management which addresses moral and ethical values in the management of a business or other organization. The stakeholder theory was first proposed in the book Strategic Management: A Stakeholder Approach by R. Edward Freeman and outlines how management can satisfy the interests of stakeholders in a business.
- social marketing Application of commercial marketing concepts, knowledge, and techniques to non-commercial ends (such as campaigns against smoking and drunken driving) for the society's welfare.
- utilitarianism An ethical philosophy in which the happiness of the greatest number of people in the society is considered the greatest good. According to this philosophy, an action is morally right if its consequences lead to happiness (absence of pain), and wrong if it ends in unhappiness (pain).
Nestle
ANC Videos. (2012, November 19). Nestlé on creating shared value in coffee [Video file]. Retrieved from https://www.youtube.com/watch?v=ok5sXpxrPhc
Resource Key
LEVEL 1
brief, basic information laid out in an easy-to-read format. May use informal language. (Includes most news articles)
LEVEL 2
provides additional background information and further reading. Introduces some subject-specific language.
LEVEL 3
lengthy, detailed information. Frequently uses technical/subject-specific language. (Includes most analytical articles)
Databases
- JSTOR This link opens in a new windowScholarly resources on JSTOR include Archival and Current Journals, Books, and Primary Sources.
- Australia/New Zealand Reference Centre Plus This link opens in a new windowThis resource provides the largest collection of full text from leading regional and international newspapers and periodicals, full-text reference books, tens of thousands of full-text biographies, and a collection of images containing more than one million photos, maps, and flags.
- Britannica Schools This link opens in a new windowBritannica School covers the core subject areas of English, Maths, Science and History. Interactive lessons, activities, games, stories, worksheets, manipulatives, study guides and research tools.
Introduction
The business management course is designed to develop students’ knowledge and understanding of business management theories, as well as their ability to apply a range of tools and techniques. Students learn to analyse, discuss and evaluate business activities at local, national and international levels. The course covers a range of organizations from all sectors, as well as the socio-cultural and economic contexts in which those organizations operate.
The course covers the key characteristics of business organization and environment and the business functions of human resource management, finance and accounts, marketing and operations management. Links between the topics are central to the course. Through the exploration of six underpinning concepts (change, culture, ethics, globalization, innovation and strategy), the course allows students to develop a holistic understanding of today’s complex and dynamic business environment. The conceptual learning is firmly anchored in business management theories, tools and techniques and placed in the context of real world examples and case studies.
The course encourages the appreciation of ethical concerns at both a local and global level. It aims to develop relevant and transferable skills, including the ability to: think critically; make ethically sound and well-informed decisions; appreciate the pace, nature and significance of change; think strategically; and undertake long term planning, analysis and evaluation. The course also develops subject-specific skills, such as financial analysis.
Shared Value
Creating Shared Value
World Economic Forum. (2012, September 6). Insight: Ideas for change - Michael Porter - Creating shared value [Video file]. Retrieved from https://www.youtube.com/watch?v=xuG-1wYHOjY