Vocabulary

pursue opportunity – искать благоприятную возможность

relegated to – имеющий отношение к чему-л; направленный на что-л

menial job – «чёрная» работа

prevent from – мешать, препятствовать

minorities – меньшинства

Hispanics – латиноамериканцы

people with disabilities – инвалиды

regulatory agency – организация, контролирующая исполнение

установленных правил и предписаний (нормативов)

sue – предъявлять иск, подавать в суд

granting – предоставление

job bias - предвзятость при найме на работу

affirmative action program – программа упреждающих действий

rigid numerical hiring and promotion quotas – строго нормированные квоты

на рабочие места и продвижения по службе

diversity initiatives – диверсифицированные (т.е. основанные на

разнородности субъектов вовлечения) инициативные

программы

contracting – заключение договоров

vendor – торговец, продавец

compensation – вознаграждение

open and inclusive work environment – свободная и открытая рабочая

обстановка, с привлечением каждого

работника в общий деловой процесс

downplay – приуменьшать

job advancement – продвижение по службе, карьерный рост

turnover – (зд) текучесть кадров

lateral moves – горизонтальные движения (шаги)

restructuring – реорганизация (компании)

rumor – слух, молва, толки

empathy – сочувствие, понимание

integrity – прямота, честность

layoff – прекращение производства; увольнение из-за отсутствия работы

work injure – травма или увечье, полученные на работе

compensation claim – требование (иск) о компенсации

CONPREHENSION QUESTIONS

1. What is economic discrimination?

2. What groups of people often bear the burden of economic

discrimination?

3. What two Acts against discrimination were adopted by the U.S.

government?

4. Explain how business is working to end economic discrimination. How do

diversity initiatives differ from affirmative action programs?

5. How are corporate cultures changing nowadays?

6. How are companies working to improve the health and safety of their

employees?

E. Business and Investors

In addition to their other responsibilities, businesses are also responsible to those who have invested in the company. Historically, investors have been primarily interested in a company’s financial performance. But today a growing number of investors are also concerned about the ethics of the companies in which they invest. One study found that 26 percent of investors consider social responsibility to be extremely important. Nonetheless, few would argue that a company’s major responsibility to investors is to make money on their behalf. Any action that cheats the investors out of their rightful profits is unethical. At the same time, a business can fail in its responsibilities to shareholders by being too concerned about profits.

Investors can be cheated in many ways, but most scams fall into one of two categories: (1) misrepresenting the potential of the investment and (2) diverting earnings or assets so that the investor’s rightful return is reduced.

Misrepresenting the Investment. Every year tens of thousands of people are the victims of investment scams. Lured by promises of high returns, people sink more than a billion dollars per year into nonexistent oil wells, gold mines, and other fraudulent operations touted by complete strangers over the telephone and the Internet .Fairfield Investment of Dallas promised returns as high as 160 percent per year by investing in first and second home mortgages. The company brought in $56 million from at least 3,500 investors over a 4-year period. Unfortunately, the operation was a Ponzi scheme, meaning that early investors were paid with money raised from later investors. Unknown to the investors, the later they became involved in the scheme, the less chance they had of realizing any return on their investment.

Shady companies use other types of scams to take people’s money, too. For example, in this era of high-tech companies that seem to skyrocket overnight, con artists can dupe unwary investors by offering shares in start-up companies that don’t exist. Investors should be especially careful of opportunities advertised over the Internet because it’s so difficult for regulators to control online scams.

Diverting Earnings or Assets. Business executives may also take advantage of the investor by using the company’s earnings or resources for personal gain. Managers have many opportunities to indirectly take money that rightfully belongs to shareholders. Perhaps the most common approach is to cheat on expense accounts. Padding invoices and then splitting the overcharge with the supplier is another common ploy. Other tactics include selling company secrets to competitors or using inside information to play the stock market.

Using nonpublic knowledge gained from one’s position in a company to benefit from fluctuations in stock prices is insider trading. Although insider trading is illegal, it is difficult to police. Say you’re an accountant for a major corporation. You know the company is about to report a large, unexpected loss. When the news breaks, the price of the stock will undoubtedly fall. You could protect yourself by selling the stock you own before the word gets out. Who would know the difference? Who would care? Consider the people who might buy your shares; chances are they would care. Consider the other shareholders, the investors who actually own the company even though they have no day-to-day involvement with it. Would it be fair for you to profit when they did not?