Nurul Az Zahra bt Ahmad Nazri

(D20071029199) Group A
TASK: WORD DEFINITION

1) FIDUCIARY
a) Person or a legal entity such as firm, bank and credit union that holding assets or
information as an agent-in-trust for a principal (stockholder, customer, member). A fiduciary
owes the duty of loyalty, full disclosure, obedience, diligence, and of accounting for all
monies handed over to the principal. A fiduciary must not exploit his or her position of trust
and confidence for personal gain at the expense of the principal. Law demands a fiduciary to
exercise highest degree of care and utmost good faith in maintenance and preservation of the
principal's assets and rights, and imposes compensatory as well as punitive damages on the
erring fiduciary. (http://www.businessdictionary.com/definition/fiduciary.html)

b) A fiduciary duty is a legal or ethical relationship of confidence or trust between two

or more parties, most commonly a fiduciary and a principal. One party, for example a
corporate trust company or department of a bank to holds a fiduciary relation or acts in a
fiduciary capacity to another, such as one whose funds are entrusted to it for investment.
(http://en.wikipedia.org/wiki/Fiduciary).

c) An individual, corporation or association holding assets for another party, often

with the legal authority and duty to make decisions regarding financial matters on behalf of
the other party. (http://www.investorwords.com/1932/fiduciary.html).

2) PHILOSOPHY

a) The study of general and fundamental problems concerning matters such as

existence, knowledge, values, reason, mind, and language.
(http://en.wikipedia.org/wiki/Philosophy)
 b) A study that attempts to discover the fundamental principles of the sciences, the
arts, and the world that the sciences and arts deal with. The word philosophy is from the
Greek for “love of wisdom.” Philosophy has many branches that explore principles of specific
areas, such as knowledge (epistemology), reasoning (logic), being in general (metaphysics),
beauty (aesthetics), and human conduct (ethics).

(http://dictionary.reference.com/browse/philosophy)

3) ORGANIZATIONAL STRUCTURE

a) An organizational structure is a mainly hierarchical concept of subordination of

entities that collaborate and contribute to serve one common aim. An organization can be
structured in many different ways and styles, depending on their objectives and
ambiance. Organizational structure allows the expressed allocation of responsibilities for
different functions and processes to different entities such as the branch, department,
workgroup and individual. (http://en.wikipedia.org/wiki/Organizational_structure)

b) Organizational structure refers to the way that an organization arranges people and
jobs so that its work can be performed and its goals can be met. When a work group is very
small and face-to-face communication is frequent, formal structure may be unnecessary, but
in a larger organization decisions have to be made about the delegation of various tasks.
(http://www.referenceforbusiness.com/management/Ob-Or/Organizational Structure.html).

c) The traditional organization structure for many businesses in the 20th century was
the bureaucracy, originally defined by Max Weber. More recent forms include the flat,
network, matrix, and virtual organizations. These forms became more prevalent during the
last decades of the 20th century as a result of the trend toward restructuring and downsizing
and developments in telecommunications technology. According to Harold J. Leavitt,
organization structure is inextricably linked to the technology and people who perform the
tasks. Charles Handy has shown that it is also directly linked to corporate culture.
(http://dictionary.bnet.com/definition/organization+structure.html)
4) COMPANY SECRETARY

a) An officer of the company with statutory duties and usually charged by the directors
of a company with responsibility for a range of duties relating to the company’s statutory
books and records, companies house filing etc. Every company should either have a company
secretary or designate one of its directors to assume the responsibilities normally assumed by
a company secretary. The company secretary of a plc is required to be qualified either under
the Institute of Chartered Secretaries and Administrators or other professional body specified
by company law. (http://www.redtape-solutions.co.uk/Glossary.htm)

b) A senior employee in an organization with director status and administrative and

legal authority. The appointment of a company secretary is a legal requirement for all limited
companies. A company secretary can also be a board secretary with appropriate
qualifications. (http://dictionary.bnet.com/definition/company+secretary.html)

5) CRONY CAPTALISME

a) Crony capitalism is a pejorative term describing an allegedly capitalist economy in

which success in business depends on close relationships between business people and
government officials. It may be exhibited by favoritism in the distribution of legal permits,
government grants, special tax breaks, and so forth. Crony capitalism is believed to arise
when political cronyism spills over into the business world; self-serving friendships and
family ties between businessmen and the government influence the economy and society to
the extent that it corrupts public-serving economic and political ideals.
(http://en.wikipedia.org/wiki/Crony_capitalism)

6) FREE MARKET

a) A system of economics that minimizes government intervention and maximizes the

role of the market. According to the theory of the free market, rational economic actors acting
in their own self interest deal with information and price goods and services the most
efficiently. Government regulations, trade barriers, and labor laws are generally thought to
distort the market. Proponents of the free market argue that it provides the most opportunities
for both consumers and producers by creating more jobs and allowing competition to decide
what businesses are successful. In practice, no country or jurisdiction has a completely free
market. (http://financial-dictionary.thefreedictionary.com/Free-market+capitalism)

7) CORPORATE GORVERNANCE SARBANE OXLEY ACT

a) The Sarbanes-Oxley Act of 2002 is legislation enacted in response to the high

profile Enron and WorldCom financial scandals to protect shareholders and the general public
from accounting errors and fraudulent practices in the enterprise. The act is administered by
the Securities and Exchange Commission (SEC), which sets deadlines for compliance and
publishes rules on requirements. Sarbanes-Oxley is not a set of business practices and does
not specify how a business should store records. It defines which records are to be stored and
for how long. The Sarbanes-Oxley Act states that all business records, including electronic
records and electronic messages, must be saved for not less than five years.

(http://searchcio.techtarget.com/sDefinition/0,,sid182_gci920030,00.html)

b) The Sarbanes–Oxley Act of 2002 also known as the 'Public Company Accounting
Reform and Investor Protection Act and Corporate and Auditing Accountability and
Responsibility Act and commonly called Sarbanes–Oxley, Sarbox or SOX, is a United States
federal law enacted on July 30, 2002. It is named after sponsors U.S. Senator Paul Sarbanes
(D-MD) and U.S. Representative Michael G. Oxley (R-OH).

(http://en.wikipedia.org/wiki/Sarbanes%E2%80%93Oxley_Act)

8) CORPORATED ENTITIES

a) Alternative term for body corporate.

(http://www.businessdictionary.com/definition/corporate-entity.html)

b) There are many types of business entity defined in the legal systems of various
countries. These include corporations, cooperatives, partnerships, sole traders, and other
specialized types of organization. (http://en.wikipedia.org/wiki/Types_of_business_entity)
9) FUTURE MARKET

a) Market in which participants can buy and sell commodities and their future delivery
contracts. A futures market provides a medium for the complementary activities of hedging
and speculation, necessary for dampening wild fluctuations in the prices caused by gluts and
shortages. (http://www.businessdictionary.com/definition/futures-market.html)

b) A commodity exchange where contracts for the future delivery of grain, livestock,
and precious metals are bought and sold. Speculation in futures serves to protect both the
developers and the users of the commodities from unfavorable and unpredictable price
fluctuations. (http://www.answers.com/topic/futures-market)

c) Commodities market where futures contracts in financial instruments or real

commodities (wheat, soybeans) are traded. Stock and bond indexes and options also are
traded on these exchanges. (http://www.answers.com/topic/futures-market)

10) non-executive director

a) non-working director of a firm who is not an executive director and, therefore, does
not participate in the day-to-day management of the firm. He or she is usually involved in
planning and policy making, and is sometimes included to lend prestige to the firm due to his
or her standing in the community. Non-executive directors are expected to monitor and
challenge the performance of the executive directors and the management, and to take a
determined stand in the interests of the firm and its stakeholders. They are generally held
equally liable as the executive directors under certain statutory requirements such as tax laws.
Also called external director, independent director, or outside director.
(http://www.businessdictionary.com/definition/non-executive-director.html)

11) COSIGNMENT/CONSIGNEE

a) An arrangement under which items are delivered by a consignor to a consignee to

be resold or used and paid for by the consignee.
(http://www.investorwords.com/1041/consignment.html )

b) Consignment is the act of consigning, which is placing a person or thing in the hand
of another, but retaining ownership until the goods are sold or person is transferred. This may
be done for shipping, transfer of prisoners, or for sale in a store .Also commonly used in the
drug dealing trade. (http://en.wikipedia.org/wiki/Consignment)
12) CONSIGNEE

a) Person or firm (usually a buyer) named by the consignor (usually a seller) in the
transportation documents (such as an air waybill or bill of lading) as the party to whose order
a consignment will be delivered at the port of destination. The consignee is considered to be
the owner of the consignment for the purpose of filing the customs declaration, and for paying
duties and taxes. Formal ownership (title) of the consignment, however, transfers to the
consignee only upon payment of the seller's invoice in full.
(http://www.businessdictionary.com/definition/consignee.html).

b) The person to who merchandise is delivered over. Recipient or receiver . A person

who receives something. (http://www.thefreedictionary.com/consignee)