Question

Explain the following: 1. Nepotism. 2. Favoritism. 3. Embezzlement.

Answer 1

Answer: 1. Nepotism    2. Favoritism    3. Embezzlement

Explanation:

1.Nepotism is based on favoritism granted to relatives in various fields, including business, politics, entertainment, sports, religion and other activities. The term originated with the assignment of nephews to important positions by Catholic popes and bishops. Nepotism has been criticized since the ancient times by several philosophers, including Aristotle, Valvular, and Confucius. For instance, the ancient Indian philosopher Valvular condemned nepotism as both evil and unwise.

2.Favoritism or favoritism may refer to:

In-group favoritism, a pattern of favoring members of one's own group  Cronyism, partiality in awarding advantages to friends or trusted colleagues .Favoritism granted to relatives .Out group favoritism, positive regard for groups to which one does not belong.

3.Embezzlement is the act of withholding assets for the purpose of conversion (theft) of such assets, by one or more persons to whom the assets were entrusted, either to be held or to be used for specific purposes.[1] Embezzlement is a type of financial fraud. For example, a lawyer might embezzle funds from the trust accounts of their clients; a financial advisor might embezzle the funds of investors; and a husband or a wife might embezzle funds from a bank account jointly held with the spouse.

Embezzlement usually is a premeditated crime, performed methodically, with precautions that conceal the criminal conversion of the property, which occurs without the knowledge or consent of the affected person. Often it involves the trusted individual embezzling only a small proportion of the total of the funds or resources they receive or control, in an attempt to minimize the risk of the detection of the allocations of the funds or resources. When successful, embezzlement may continue for many years without detection. The victims often realize that the funds, savings, assets, or other resources, are missing and that they have been duped by the embezzler, only when a relatively large proportion of the funds are needed at one time; or the funds are called upon for another use; or when a major institutional reorganization (the closing or moving of a plant or business office, or a merger/acquisition of a firm) requires the complete and independent accounting of all real and liquid assets, prior to or concurrent with the reorganization.

Answer 2

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Nepotism means to Using your power to give unfair advantage to ur family , especially by giving them future.

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