The Effectiveness of Self-Regulation: Corporate Codes of Conduct and Child Labour

These flashcards cover key terminology and concepts from the lecture on corporate codes of conduct and their effectiveness in addressing child labor issues.

Corporate Social Responsibility (CSR)

The notion that corporations should consider the social and environmental impacts of their business operations, and take responsibility for their actions.

Codes of Conduct

Formal documents that outline the ethical standards and principles governing a company’s operations, especially regarding labor practices.

Child Labour

The employment of children in work that deprives them of their childhood, potential, and dignity and that is harmful to physical and mental development.

Self-Regulation

The ability of firms to impose standards and regulations on themselves, without the direct involvement of government authorities.

Supply-Chain Approach

A method that focuses on the entire network of suppliers involved in the production process, recognizing the interconnectedness of companies and their dependencies.

Stakeholder Pressure

The influence exerted by individuals or groups that have an interest in the activities and performance of a company, pushing for responsible practices.

Monitoring Mechanisms

Systems and processes put in place to ensure compliance with established codes and conduct guidelines, assessing the effectiveness of corporate policies.

Under-age Child Workers

Children who are employed in work that is deemed unacceptable according to international labor standards, often below the legally established minimum working age.

International Labour Organization (ILO)

A United Nations agency that brings together governments, employers, and workers of member states to set labor standards, develop policies, and devise programs promoting decent work for all.

Remediation Policies

Policies designed to address and improve the conditions of children found working in violation of child labor standards, aiming to provide education and adequate support.