Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

CORPORATE GOVERNANCE > P1 > Flashcards

P1 Flashcards

1
Q

Refers to a process whereby elements in society wield power, authority and influence and an app policies and decisions concerning public life on social uplift.

A

Governance

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

System of rules practices and processes by which business corporations are directed and control

A

Corporate governance

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

It could be either direct or through legitimate institutions or representatives. It needs to be informed and organize. This means freedom of association and expression on one hand and an organizations civil society on the other hand

A

Participation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Good governance requires their legal framework that are enforced impartially and requires full protection of human rights

A

Rule of law

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Decisions taken and their enforcement are done in a manner that follow rules and regulations. Information is freely available And directly accessible to those who will be affected by such decisions and their enforcement

A

Transparency

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Good governance requires that institutions and practices try to serve needs of all stakeholders within a reasonable timeframe

A

Responsiveness

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Meditation of the different interest in society is required. It also requires broad and long-term perspective on what is needed for sustainable human development and on how to achieve the goals of such development

A

Consensus oriented

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Ensures that all its members feel that they have stake in it And have opportunities to improve or maintain their well-being

A

Equity and inclusiveness

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

The processes and institutions produce results that meets the needs of the society will making the best use of resources at its disposal

A

Effectiveness and efficiency

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

The key requirement of a good governance. Organization or institution is accountable to those who will be affected by its decisions or actions. It cannot be enforced without transparency and the rule of law

A

Accountability

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Businesses that maintain revenues assets are a number of employees below certain level threshold. Businesses with not more than 100M assets of not more than 199 employees

A

SME or Small medium enterprises

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

The company that has held an initial public offering And who’s shares are traded on the stock exchange in the over-the-counter market

A

Publicly listed companies

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Responsible through an elected board of directors to management operating units with oversight and assistance From internal auditors

A

Shareholders delegates

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Oversee management for protection shareholders rights

A

Board of directors and it’s audit committee

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Accountable to the shareholders. Responsible to act within the laws of society and to meet various requirements of creditors employees and stakeholders

A

Management and the board

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

It was released on November 10, 2016 during the third annual SEC PSE corporate governance forum.

A

Code of corporate governance

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

How is the arrangement of the code?

A

Principle recommendation and explanation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

It is an organized marketplace or facility that brings together buyers and seller and execute trade of securities and or commodities

A

Exchange

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

It can be considered to be a high-level a statement of corporate governance good practices and are applicable to all companies

A

Principles

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

Objective great. That are intended to identify the specific features of corporate practice that are recommended for companies operating according to the code

A

Recommendations

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

Strive to provide companies with additional information on the recommended best practice

A

explanation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

Combines the voluntary compliance with the mandatory disclosure

A

Comply or complain approach

23
Q

Boards governance responsibilities (1-7)

A

Establishing a competent board
Establishing clear roles and responsibilities of the board
Establishing board committee
Fostering commitment
Reinforcing board independence
Assessing board performance
Strengthening board Ethics

24
Q

Disclosure and transparency (8-11)

A

Enhancing company disclosure policy and procedures
Strengthening external auditors independence and improving audit quality
Increasing focus on non-financial and sustainability reporting
Promotes comprehensive and cost efficient access to that relevant information

25
Q

Internal control system and risk management framework (12)

A

Strengthening internal control system and enterprise risk and management framework

26
Q

Cultivating a synergic relationships with stakeholders (13)

A

Promotes stakeholders rights

27
Q

duties to stakeholders (14-16)

A

respecting stakeholders rights and effective address for violation of stakeholders rights
Encouraging employee participation
Encouraging sustainability and responsibility

28
Q

A set of moral principles and values that govern actions and decisions of an individual or a group

A

Ethics

29
Q

Doing things even no one is watching

A

Integrity

30
Q

Being truthful sincere and transparent

A

Honesty

31
Q

Committed to abide by the spirit as well as the letter of agreement

A

trustworthiness and promise keeping

32
Q

Faithful and loyal safeguarding the influence and conflict of interest

A

Loyal and confidentiality

33
Q

Willingness to admit error, Do not overreachor take advantage of another’s mistake or the diversities

A

Fairness and openness

34
Q

Helping those in need and avoiding harming others

A

Caring for others

35
Q

Showing respect to others dignity privacy and the right to self-determination

A

Respect for others

36
Q

Obey just law exercising the right of democracy responsibly.

A

Responsible citizenship

37
Q

Performing task to the best of one’s ability and not being content with mediocrity

A

Pursuit of excellence

38
Q

accepting responsibility for the stations its consequences and setting example others

A

Accountability

39
Q

Importance of ethical behavior

A

Make society better
treat everyone equally
securing meaningful employment
succeed at business
less stress

40
Q

Two primary reason why people act unethically

A

Persons ethical standards are different from those of the society
Person chose to act selfishly

41
Q

Personal ethics principles

A

Basic justice fairness
respect for the rights of others
concern for the rights of others
Benevolence trustworthiness honesty
concern for the role being on welfare of others
compliance with the law

42
Q

Professional ethics principles

A

Integrity impartiality objectivity
professional competence
confidentiality
professional behavior
avoidance to potential or apparent conflict of interest

43
Q

Business ethics principles

A

Fair competition
global as well as domestic justice
social responsibility
concern for environment

44
Q

Ethics that a person identifies with in respect to people and situation that they deal with in every day life

A

Personal Ethics

45
Q

It is a set of principles designed to help professionals distinguish right from wrong in order to govern their decision making

A

Professional code of ethics

46
Q

General principles of professional conduct

A

Ethical commitment
ethical awareness
ethical competency

47
Q

Specific principles of professional conduct

A

Service to others
integrity and objectivity
professional competence
solidarity and teamwork
social and civic responsibility

48
Q

Refers to the standards of moral conduct behavior and judgment in business

A

Business ethics

49
Q

There is a positive social impact if companies pays fair wages and benefits to its employees, Paid suppliers fairly and on-time, deliveries the customers a product and services of good value

A

Economic impact

50
Q

Environmental protection is a key area of business influence on society. if a company implements environmental good practices like reducing waste an efficient use of energy this will force competitors to do same actions

A

environmental impact

51
Q

Managers are expected to act in the best Interest of the company without compromising the Companies applicable laws and regulations, information rights of his superiors and subordinates and other stakeholders.

A

Impact on business managers

52
Q

How to determine whether an activity is ethical or not

A

Is it illegal?
Does it agree with organizations code of ethics?
Does it agree with the publish code of ethics?

53
Q

An article written by Mercedes B. Suleik On February 13, 2018.
Pronounce the inherent conflict between ethics and pursuit of profit

A

Ethical challenges in today’s world

54
Q

Deterioration of ethical environment happened in cases such as lobbying officials to receive favor engaging in accounting fraud corruption. such practices me unfairly raise prices of goods and services

A

social impact

CORPORATE GOVERNANCE (1 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions