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external environments

all events outside a company that have the potential to influence or affect it

stable environment

rate of environmental change is slow.

dynamic environment

rate of environmental change is fast

general environment

economic, technological, sociocultural, and political trends that indirectly affect all organizations

specific environments

customers, competitors, suppliers, industry regulations, and advocacy groups that are unique to an industry and directly affect how a company does business

supplier dependence

is degree to which a company relies on a supplier because of the importance of the supplier's product to the company and the difficulty of finding other sources of that product

buyer dependence

degree to which a supplier relies on a buyer because of the importance of that buyer to the supplier's sales and the difficulty of finding another buyer for its product


set of moral principles or values that defines right and wrong for a person or group


the first level of moral development in which people make decisions based on selfish reasoning


second level of moral development in which people make decisions that conform to societal expectations

post conventional

third level of moral development in which people make decisions based on internalized principles

shareholder model

a view of social responsibility that holds that an organization's overriding goal should be to maximize profit for benefit of shareholders

stakeholder model

a theory of corporate responsibility that holds that management's most important responsibility, long term survival is achieved by satisfying the interest of stakeholders

primary stakeholder

are groups on which the organization depends for it's long term survival

secondary stakeholder

media special interest groups, can influence or be influenced by a company

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