Page 59 - Business Principles and Management

C HAPTER 2 A SSESSMENT
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CHAPTER CONCEPTS

• The U.S. population has been growing largely because of immigration
and because Americans are living longer. It is also becoming more
diverse. The trend has been for people and businesses to locate in
the southern part of the country.

• Changes in American society and its values affect how businesses
function. Changes can be seen in the growing number of women
in the workforce, the changing nature of the family, and rising
job insecurity, stress, and violence. Poverty and discrimination
persist. Businesses are becoming more environmentally
conscious.
• Businesses are responding to employee needs by redesigning jobs,
improving workplace health and safety, and providing flexible
scheduling and family-friendly benefits.
• Ethical conduct in business requires doing more than the law pre-
scribes. Businesses establish codes of ethics to identify right and
wrong behavior for employees.
• The goal of business extends beyond merely making profits to being
socially responsible to various stakeholders.

REVIEW TERMS AND CONCEPTS

Write the letter of the term that matches each definition. Some terms will
not be used.
1. High-birth-rate period between 1945 and 1965
2. Low-birth-rate period that followed the boomer period
3. Group that includes most people 16 or over who are available for
work, whether employed or unemployed
a. baby boom
b. baby bust 4. Percentage of the labor force that is either employed or actively
c. business ethics seeking employment
d. code of ethics 5. Invisible barrier to job advancement
e. comparable worth 6. Inability of workers to move up from low-level jobs
f. ethics 7. Paying workers equally for jobs with similar but not identical job
g. Generation X requirements
h. glass ceiling 8. To work from home or on the road, staying in contact with employer
i. labor force electronically
j. labor participation 9. Duty of a business to contribute to the well-being of society
rate 10. Standards of moral conduct that individuals and groups set
k. Net Generation for themselves, defining what behavior they value as right or
l. recycling wrong
m. social responsibility 11. Collection of principles and rules that define right and wrong conduct
n. stakeholders
o. sticky floor syndrome for an organization
p. telecommute 12. Individuals or groups affected by a firm’s actions, such as owners,
customers, suppliers, employees, creditors, government, and the
public

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