This is for business and society course. Need a meaning of terms. Thanks for the

Question

This is for business and society course. Need a meaning of terms. Thanks for the help.

1) How is globalization is accelerating?

2) Critics of global corporate social responsibility and its commitment

- Critics of global CSR

3) (PG.150) Auditing process: Systems used by a business to ensure compliance with an industry or global set of standards.

- What are different ways you can use on auditing process?

4) Major transnational corporate meaning

5) Stages and business in stakeholder’s relationship (PG 37)

6) Ad length

What is it?

How it works in the business world?

Explanation / Answer

How globalization is accelerating?

Globalization today, we heard about a growing level of connectedness above and beyond trade numbers. Some of the characteristics of this new connectedness include the digitization of information flows, the extension of access to more and more regions, and declining centralization in organizational and social structures. globalization is accelerating With the information that’s now available, the connectedness, the computing power, the data, things just are moving at a faster pace, so you have less time and organization to react to issues. We’re also more linked, if you will, so a problem in some part of the world quickly ricochets across the system.”

Critics of global corporate social responsibility and its commitment meaning. Critics of global CSR?

Auditing process meaning and different ways you can use in the term.

A set of actions and procedures to control an organization. They aim to test and prove that processes are being conducted effectively and follow due control mechanisms. They also aim to detect opportunities for improvement in the audit process.

Types of audit processes

As we warned at the beginning, audit processes don’t always have audit motivations, here are their three main types:

1- Preventive Audit Process:

This is a way of anticipating problems, presenting a series of guidelines for the process to take place in the best possible way and indicating, for example, the attributions and responsibilities inherent to it.

2- Detective Audit Process:

Used to detect if there are anomalies in the process, but without pointing out ways to correct them.

3- Corrective Audit Process:

In this case, once the audit process detects a problem, it should investigate its causes to suggest ways to correct it.

Check also: Governance, risk and compliance: All there is to know

Best audit process practices

In order to assist those engaged in an audit process, or who will be submitted to it, we have listed a number of best practices that you should follow:

Major transnational corporate meaning.

Transnational corporations are among the world's biggest economic institutions. A rough estimate suggests that the 300 largest TNCs own or control at least one-quarter of the entire world's productive assets, worth about US$5 trillion.1 TNCs' total annual sales are comparable to or greater than the yearly gross domestic product (GDP) of most countries (GDP is the total output of goods and services for final use by a nation's economy). Itochu Corporation's sales, for instance, exceed the gross domestic product of Austria, while those of Royal Dutch/Shell equal Iran's GDP. Together, the sales of Mitsui and General Motors are greater than the GDPs of Denmark, Portugal, and Turkey combined, and US$50 billion more than all the GDPs of the countries in sub-Saharan Africa

This is a widespread technique whereby TNCs set prices for transfers of goods, services, technology, and loans between their worldwide affiliates which differ considerably from the prices which unrelated firms would have had to pay.

There are many benefits TNCs derive from transfer pricing. By lowering prices in countries where tax rates are high and raising them in countries with a lower tax rate, for example, TNCs can reduce their overall tax burden, thus boosting their overall profits. Virtually all intra-company relations including advisory services, insurance, and general management can be categorised as transactions and given a price; charges can as well be made for brand names, head office overheads, and research and development. Through their accounting systems TNCs can transfer these prices among their affiliates, shifting funds around the world to avoid taxation. Governments, which have no way to control TNCs' transfer pricing, are therefore under pressure to lower taxes as a means of attracting investment or keeping a company's operation in their country. Tax revenue which might be used for social programs or other domestic needs is thus lost.

Moreover, in countries where there are government controls preventing companies from setting product retail prices above a certain percentage of prices of imported goods or the cost of production, the firms can inflate import costs from their subsidiaries and then impose higher retail prices. Additionally, TNCs can use overpriced imports or underpriced exports to circumvent governmental ceilings on profit repatriation, causing nation-states to suffer large foreign exchange losses. For instance, if a parent company has a profitable subsidiary in a country where the parent does not wish to re-invest the profits, it can remit them by overpricing imports into that country. During the 1970s, investigations found that average overpricing by parent firms on imports by their Latin American subsidiaries in the pharmaceutical industry was 155 per cent, while imports of dyestuffs raw materials by Indian TNC affiliates were being overpriced between 124 and 147 percent

Stages and business in stakeholder’s relationship

There are four stages, which are inactive, reactive, proactive, and interactive.   Inactive means these companies ignore stakeholder concerns. They believe that they can make decisions unilaterally. Reactive means this posture generally acts only when forced to do so and then in a defense manner. Proactive means these companies try to anticipate stakeholder concerns. They use the environmental scanning practices to identify emerging public issues. Lastone is interactive which means these companies actively engage with stakeholders in an ongoing relationship of mutual respect, openness and trust

Ad length what is it? How it works in the business world?

Essentially, measuring results of your advertising means comparing the value of your sales with the cost of advertising. To do this, you need to start early in the process before you even come up with the advertisement When your ads appear simultaneously in different media (such as newspapers, radio, television, the Internet, direct mail or flyers), you should try to evaluate the relative effectiveness versus the cost of each. You can check one print medium against the other by using companion ads — the same or almost identical ads.

You can make the job of analyzing and comparing results easier by varying the message. This way, your ad copy becomes the means of identifying your ad response.

You can identify results of your campaign in various media by changing the call to action for each. Suppose, for example, that you advertise an item at 20% off. Your broadcast ads (radio, television, etc.) might say something like: "Come in and tell us you want this product at twenty percent off." On the other hand, your printed ads might require the customer to bring in the clipping itself.

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