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Briefly Explain How Corporate Directors Are Able to Meet Their

question 18

Essay

Briefly explain how corporate directors are able to meet their statutory standard of care,and identify the various methods that directors should employ to achieve this goal.


Definitions:

Token Economy

A behavior modification system that uses tokens as reinforcement for desired behaviors, which can be exchanged for rewards.

Token-Storage System

A behavioral modification system where tokens are earned for desired behaviors and can later be exchanged for rewards.

Peer Pressure

The influence exerted by a peer group, encouraging individuals to change their attitudes, values, or behaviors to conform to group norms.

Positive Reinforcement

A learning process in which a behavior is followed by a desirable consequence, strengthening the likelihood that the behavior will be repeated.

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