
Economy and Transformation
Flashcard
•
Business
•
12th Grade
•
Practice Problem
•
Hard
Solene Solene
Used 1+ times
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20 questions
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1.
FLASHCARD QUESTION
Front
What is the main focus of the Social and Solidarity Economy (SSE)?
Back
The SSE prioritizes social and environmental objectives over profit maximization.
2.
FLASHCARD QUESTION
Front
What are the key characteristics of the Social and Solidarity Economy?
Back
1. Primacy of people and social purpose 2. Democratic governance 3. Voluntary cooperation and mutual aid 4. Reinvestment of profits 5. Autonomy and independence 6. Long-term sustainability
3.
FLASHCARD QUESTION
Front
What is the shareholder approach according to Milton Friedman?
Back
Friedman argues that the only social responsibility of business is to increase its profits.
4.
FLASHCARD QUESTION
Front
What is the stakeholder approach according to Edward Freeman?
Back
Freeman argues that stakeholders include not just shareholders but also employees, customers, suppliers, and others affected by the organization's actions.
5.
FLASHCARD QUESTION
Front
What is agency theory?
Back
Agency theory examines the relationship between principals and agents, highlighting the conflicts of interest that can arise due to information asymmetry.
6.
FLASHCARD QUESTION
Front
What is the difference between CSR and Creating Shared Value (CSV)?
Back
CSR focuses on doing good and is often separate from profit maximization, while CSV integrates societal benefits into profit-making strategies.
7.
FLASHCARD QUESTION
Front
What are some examples of organizations within the Social and Solidarity Economy?
Back
Cooperatives, social enterprises, mutual aid societies, NGOs, fair trade organizations, and credit unions.
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