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HEIGHTENED MANAGERIAL CARE

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Definition:
Heightened managerial care (or heightened care) is a variant of the risk management term - "due care". The use of the word "heightened" stresses the fact that companies need to use extra vigilance and care in managing the heightened risks encountered in weak governance zones.

Context:
Heightened care consists of extra efforts in: board level involvement, gathering information about the investment environment, verification and follow-up, record keeping and documentation, assessments, decision making, building in safeguards, management practices for relevant staff, associates and business partners (e.g. selecting appropriate staff, associates and business partners for at-risk positions and providing them with appropriate incentives and special training), monitoring and, where necessary, taking corrective measures.

Source Publication:
OECD, 2006, Annual Report on the OECD Guidelines for Multinational Enterprises: Conducting Business in Weak Governance Zones, OECD, Paris.

Cross References:
Due care

Statistical Theme: Financial statistics

Created on Monday, July 23, 2007

Last updated on Thursday, July 26, 2007