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WorksheetsIBDP Business Unit 1.3 Key Terms
Total questions: 11
Worksheet time: 4mins
The conscientious consideration of ethical and environmental practice related to business activity. A business that adopts CSR acts morally towards all of its various stakeholder groups and the wellbeing of society as a whole.
Corporate Social Responsibility
Corporate Wellbeing
Corporate Stakeholder Responsibility
Corporate Ethics
The documented beliefs and philosophies of an organisation, so that people know what is considered acceptable or not acceptable within the organisation.
Ethics handbook
Ethical code of practice
Ethical mission
Ethical vision
Organisational goals based on moral guidelines, determined by the business and/or society, which direct and determine decision-making.
Ethical code of practice
Ethical guidelines
Ethical objectives
Ethics
The moral principles that guide decision-making and business strategy. Morals are concerned with what is considered to be right or wrong, from society's point of view.
Ethics
Morals
Mission
Vision
A (a) statement refers to the declaration of an organisation's overall purpose. It forms the foundation for setting the objectives of a business.
What an organisation strives to achieve. They are the goals of an organisation, such as growth, profit, protecting shareholder value and ethical objectives.
Ideas
Goals
Objectives
Strategies
The longer-term goals of a business, such as profit maximization, growth, market standing and increased market share.
Mission
Vision
Objectives
Strategic objectives
The various plans of action that businesses use to achieve their targets. They are the long-term plans of the organisation as a whole.
Tactics
Strategies
Goals
Objectives
Short-term goals that affect a unit of the organisation. They are specific goals that guide the daily functioning of certain departments or operations.
Tactical objectives
Strategic objectives
Ethics
Objectives
Short-term plans of action that businesses use to achieve their objectives.
Goals
Tactics
Strategies
Ethics
A (a) statement is an organisation's long-term aspirations, i.e. where the business ultimately wants to be.
