Corporate responsibility 4 CHECK YOUR ENGLISH VOCABULARY FOR LAW

CHECK YOUR ENGLISH VOCABULARY FOR LAW

Corporate responsibility 4

Financial and ethical integrity Look at paragraphs 1 – 9 in the boxes, and do the task that accompanies each one. Paragraph 1: Find words in the paragraph below that mean: 1 To make something weaker or less effective People who have invested in and own part of a business, or people who have a personal interest in how something happens Open and honest about its actions People who own shares in a company Business dealings and other actions 2 3 4 5 6 To ask someone for something (in this case, for an immoral or unethical purpose) Something which encourages Money offered corruptly to someone to get him to do something to help you Honesty / moral principles 7 8 9 A company should not offer, solicit or accept bribes or any other form of financial incentive that could undermine its integrity, and for the sake of its shareholders and other stakeholders it should be transparent in all its accounting and financial transactions. Paragraph 2: This paragraph contains 7 wrong word forms (for example, a verb has been used instead of a noun, a singular form has been used when a plural form is necessary, etc). Identify and correct these words. A company should be social responsible in its investing, and exercise diligent to ensure that such investments do not have an adversity affect on human needs and right. It should be prepared to disclosure any information regarding its investments when asked to do so. Paragraph 3: Rearrange the letters in bold to make words. If a company pssstecu that it is being used for minrilac or other illegal activities, either from within the company or from the outside, it should report its nssiosupci to the relevant rathouseiti and put in place rrserabi to ensure that it does not happen again. Paragraph 4: Complete the paragraph with words or expressions from the first box. disadvantaged ensure equitable interest rates policies predatory profit margins repayment A company that lends money should avoid ________ practices such as imposing very high ________ and short ________ periods, especially in situations where people are particularly financially ________, and it should ________ that its lending ________ are ________, even if this means that they have to reduce their ________. Paragraph 5: This paragraph contains 10 spelling mistakes. Identify and correct each one. A company should not infrange, copy or otherwise use without permision or acknoledgement a copywrite, a patient, a tradmark (registreed or otherwise) or anything else that could be construed as createive or intelectual propperty for financial gain. Paragraph 6: Read this paragraph, then do the task that follows it. A company should respect the rights of the individual to privacy and freedom from harassment, intimidation and any other act which could be viewed by the individual as an invasion of their privacy. In addition to maintaining good public relations with its customers, suppliers, and other people it works with, a company should also main good relations with its neighbours and people who live in and around its area of operations. What is: →The adjective form of the noun privacy? →The verb form of the noun harassment? →The adjective form of the noun intimidation? →The verb form of the noun invasion? →The noun form of the verb maintaining? →The verb form of the noun / adjective public? →The adjective form of the noun neighbours? Paragraph 7: Using your own words and ideas, explain the words and expressions in bold in this paragraph. As part of its corporate governance policy, a company should have clearly defined codes of conduct, codes of best practice and other guidelines for its directors and employees to follow and uphold. Paragraphs 8 and 9: Which words or expressions in paragraphs 8 and 9 below are closest in meaning to: 1. disobeying 2. to end or finish 3. worries (noun) 4. to make something correct 5. to obey 6. to punish 7. negative effects or results 8. duties A company should not penalise any employee for questioning its policies and its financial or ethical integrity, and employees should be aware that if they do so, there will be no repercussions. An employee should not have to comply with any rules that it feels undermine his / her, and the company's, integrity. The responsibilities in paragraphs 1 - 8 above should apply not only to the main company, but also to any of its subsidiaries, joint venture partners, suppliers, licensees, franchisees or investors. If a company believes that any of these are acting in an unethical way, or otherwise violating recognised ethical standards, it should address its concerns to the party involved and attempt to redress the situation. If necessary, the company should terminate its business relationships with the party or parties concerned.

 

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