Chapter 9
The abuse of private and public office for personal gain.
Corruption
A multisectoral campaign that seeks to institutionalize integrity standards among various sectors of society
Integrity Initiative
The process of measuring or assessing risk and developing strategy to manage it.
risk management
_______ companies view risk as an opportunity and accept risk management as necessary to achieving their goals.
Anglo American
Means haring with another party the burden of loss or the benefit of gain, from a risk, and the measures to reduce risk.
risk sharing
A professor who defined corruption as an improbity or decay in the decision making process.
Dr. Petrus Van Duyne
A formal expression of the organization's values and ethics.
Code of conduct
The _________ identifies the basic principles of risk management.
ISO (International Organization of Standardization)
__________ is the lifeblood of a business, heavily influencing strategies and decisions at every level.
Finance
The second most dangerous country in the world for journalis to operate in as measured by the number of journalists deaths.
Philippines
Give at least 3 characteristics of corruption
recipients and payers, extortion, lubrican of society, ethical dilemma, poverty alleviation, culture, kindness among friends
The Code of Ethics for the Philippine Business was issued by ______.
Bishops-Businessmen's Conference Philippines
3 main process of risk management
establishing context, identification of potential risk, risk assessment
____________ are an active tool to help make financial decisions, not merely a way to measure performance.
Budgets
____ requires competitive and transparent bidding.
Government Procurement Reform Act
This act forbids office holders from accepting any gifts or material benefits in exchange for any government permits or license
Anti-Red Tape Act
RA _______ is also known as The Consumer Act of teh Philippines.
7394
Risk from the decisions made by a firm's management
Used to monitor and manage results of past decisions, assess, the current situationa nd highlight solutions.
variance analysis
What is the meaning of ERM?
Enterprise Risk Management
Who was the former secretary of environment who shut don 28 of the country's 41 mining companies in 2017?
Gina Lopez
What does MBC mean?
Makati Business Club
4 categories of potential risk treatments
Avoidance, Reduction, Sharing, Retention
alive
The _____ framework breaks risks into market risk, credit risk and operational risk.
Basel II