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Due diligence can be a legal obligation, but the term more commonly applies to voluntary investigations. It may also offer a defence against legal action. A common example of due diligence is the process through which a potential acquirer evaluates a target company or its assets in advance of a merger or acquisition. [1]
Diligence. The whip and spurs signify a drive to steadfastly move forward with one's means. Diligence—carefulness and persistent effort or work—is listed as one of the seven capital virtues. It can be indicative of a work ethic, the belief that work is good in itself. [1] "There is a perennial nobleness, and even sacredness, in work.
Management due diligence is the process of appraising a company's senior management—evaluating each individual's effectiveness in contributing to the organization's strategic objectives. [1] Assessing company management is crucial when closing business deals. It can mean the difference between long-term success or sudden failure.
It combines elements of accountancy, finance, marketing, organizational studies, human resource management, and operations. Business studies is a broad subject, [2] where the range of topics is designed to give the student a general overview of the various elements of running a business. The teaching of business studies is known as business ...
Businesses have codes of ethics to assist workers deducing whether behaviours would be considered appropriate or acceptable wherever dealing with clients and stakeholders. Some businesses will require their staff to attend recurring monthly or yearly training on business ethics.
Work ethic is a belief that work and diligence have a moral benefit and an inherent ability, virtue or value to strengthen character and individual abilities. [1] Desire or determination to work serves as the foundation for values centered on the importance of work or industrious work.
The Protestant work ethic, [1] also known as the Calvinist work ethic [2] or the Puritan work ethic, [3] is a work ethic concept in sociology, economics, and history.It emphasizes that a person's subscription to the values espoused by the Protestant faith, particularly Calvinism, result in diligence, discipline, and frugality.
Generally, parties rely on independent third parties to conduct due diligence studies or business assessments. To yield the most value from a business assessment, objectives should be clearly defined and the right resources should be chosen to conduct the assessment in the available timeframe.