what is the difference between due diligence and due care why are both important?
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Due care is a way to implement something right away in order to perform mitigation procedures. Due diligence is making sure the right thing was done correctly, and if it is necessary to do it again or if further research is required. Due care is doing the right thing, the prudent man rule.
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Nel Noddings draws an important distinction between natural caring and ethical caring (1984, 81-83). Noddings distinguishes between acting because "I want" and acting because "I must". ... Ethical caring occurs when a person acts caringly out of a belief that caring is the appropriate way of relating to people.
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Simply put, Quality Assurance focuses on the process of quality, while Quality Control focuses on the quality of output.
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Due diligence includes a diagnostic overview and inventory of all HR processes and procedures in the company. ... It generally includes all the important factors of the business related to human resources. In this process we rely on our own expertise and experience and follow our values.
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You must exercise caution and perform due diligence on your vendors. The lawyer is doing his due diligence. Miss 'E ' carried out a due diligence exercise on the assets of the business and prepared an initial draft balance sheet. ... If due diligence would have been done, the accident could have been prevented.
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What is Customer Due Diligence (CDD)? | ICA. Customer Due Diligence (CDD) information comprises the facts about a customer that should enable an organisation to assess the extent to which the customer exposes it to a range of risks. These risks include money laundering and terrorist financing.
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All enterprises in the garment and footwear supply chain should carry out risk-based due diligence. In the context of the OECD Guidelines 'due diligence' is understood as the process through which enterprises identify, prevent, mitigate and account for how they address their actual and potential adverse impacts.
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A surety's undertaking is an original one, by which he becomes primarily liable with the principle debtor, while a guarantor is not a party to the principal obligation and bears only a secondary liability.”2 Stated somewhat differently, the distinction between a suretyship and guaranty is that “a surety is in the first ...
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Primary Care serves as advisors and advocates. Specialty Care is more focused and intense. 4. Focuses on a person as a whole, specialty care focuses on a certain disease or organ system.
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As nouns the difference between diligence and consistency is that diligence is conscientiousness or determination or perseverance when doing something while consistency is local coherence.
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As verbs the difference between care and bother is that care is (label) to be concerned about, have an interest in while bother is to annoy, to disturb, to irritate.
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The due diligence fee is a negotiable, non-refundable fee a buyer may pay for the negotiated due diligence time period. The due diligence fee is paid directly to the seller. ... Earnest money is money that the buyer gives the seller to show your good faith when making an offer to purchase the seller's property.
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Definition: Calls for the application of the care and skill expected of a reasonably prudent and competent auditor in similar circumstances. Due professional care is exercised when audits are carried out in accordance with standards set for the profession.
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What Is Real Estate Due Diligence? ... In the world of investment transactions, due diligence is a legal term for “do your homework.” Before buying a property, you should fully investigate it for potential problems that could cost major money to fix after you've moved in, and verify that you still want to buy the property.
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Firstly, what is the difference between the Essential Quality Requirements and Best Practice? ... On the other hand, for Best Practice (BP) it indicates a practice should reach “the full level of compliance that may be achieved immediately or via a documented improvement from essential quality requirements.”
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As nouns the difference between priority and responsibility is that priority is an item's relative importance while responsibility is the state of being responsible, accountable, or answerable.
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What is Environmental Due Diligence? EDD is the process of assessing the environmental conditions of a property in connection with a property merger or acquisition (MA) so that investors are aware of the potential environmental liabilities.