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DSST Business Ethics and Society-Study Guide 3

Ad hoc latin phrase meaning for that it generally

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Ad hoc - Latin phrase meaning "for that". It generally signifies a solution designed for a specific problem or task, non- generalizable, and not intended to be able to be adapted to other purposes. Ombudsman - a government official who hears and investigates complaints by private citizens against other officials or government agencies. ISO 14001 - environmental management standards exist to help organizations; minimize how their operations (processes etc.) negatively affect the environment (i.e. cause adverse changes to air, water, or land); comply with applicable laws, regulations, and other environmentally oriented requirements, and continually improve in the above. ISO 14000 is similar to ISO 9000 quality management in that both pertain to the process of how a product is produced, rather than to the product itself. As with ISO 9000, certification is performed by third-party organizations rather than being awarded by ISO directly. The ISO 19011 audit standard applies when auditing for both 9000 and 14000 compliance at once. Dumping - in international trade , practice of selling goods abroad below cost in order to eliminate a surplus or to gain an edge on foreign competition, or when goods are unacceptable for the domestic market. In securities, offering large amounts of stock with little or no concern for price or market effect. Self-reference criterion (SRC ) - Having sold a product successfully in the domestic market a firm may assume that the product will, without adaptation, also be successful in foreign markets. Frequently this assumption leads to failure. SRC refers to the assumption that what is suitable for the home market will be suitable for the foreign market and therefore there is no need to test whether or not the product should be altered. Federal Election Campaign Act (FECA) 1971 - Congress attempted to establish comprehensive regulations on how American political campaigns for Congress and presidency raise money and disclose the amount and sources of contributions. This act governs nearly all aspects of federal campaign finance activity, including the four dominant issues: size of contributions to political campaigns, source of such contributions, public disclosure of campaign financial information, and public financing of presidential campaigns. Shareholder activism - uses an equity stake in a corporation to put public pressure on its management . It can take any of several forms: proxy battles , publicity campaigns, shareholder resolutions , litigation, and negotiations with management. It has gained popularity as management compensation at publicly traded companies and cash balances on corporate balance sheets have risen . Cost benefit analysis is a comparison of the cost of an activity to its benefits belongs to – Utilitarian reasoning SA8000 initiative approved a set of labor standards that include the right to a safe working environment, a moratorium on child labor, a living wage, the right for workers to unionize, and a 48 hour work week. Companies that want to comply with SA8000 standards apply for certification through an outside auditor. Enterprise rights are employer promises. Examples include access to a grievance system and the right to a personnel evaluation at specified intervals. Enterprise rights are in writing and usually found in the employee handbook.
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