上海财大ACCAF1讲义1精编版课件

1、上海财大ACCAF1讲义1精编版上海财大ACCAF1讲义1精编版Chapter 1Business organizations and their stakeholdersChapter 1Business organization1 Types of organisation1.1 What all organisations have in commonAn organisation is : a social arrangement which pursues collective goals, which controls its own performance and which h

2、as a boundary separating it from its environment.1 Types of organisation1.1 Wha1.2 Why do organisations exist?Organisations can achieve results which individuals can not achieve by themselves.(a) Oraganisations overcome peoples individual limitations, whether physical or intellectural.(b) Organisati

3、ons enable people to specialise in what they do best.(c) Organisations save time.(d) Organisations accumulate and share knowledge.(e) Organisations enable synerge.In brief, organisations enable people to be more productive.1.2 Why do organisations exist1.3 How organisations differOwnership (Public v

4、s Private)Owned by the government (public sector organisations)Owned by private owners or shareholders (private sector organisations)ControlControlled by the owners themselvesControlled by people working on their behalfIndirectly controlled by government-sponsored regulators1.3 How organisations dif

5、ferActivityProfit or non-profit orientationLegal statusLimited companiesPartnershipsSizeActivitySources of financeBorrowing from banksGovernment fundingIssuing sharesTechnologyVarying degrees of technology useSources of finance1.4 What the organisation doesOrganisations do many different types of wo

6、rk1.4 What the organisation does2 Types of business organisation2.1 Profit vs non-profit orientationProfit orientationMaximise profit (to owners)Non profit orientationProvision of goods / services (to public / beneficiaries)2 Types of business organisati2.2 Private vs public sectorPrivate sectorOrga

7、nisations not owned or run by central or local government, or government agencies.Public sectorOrganisation owned or run by central or local government agencies.2.2 Private vs public sector2.3 Private sector businessesA business organisation exists to make a profit.Costs should be less than the reve

8、nues.Profits are not incidental to its activities but the driving factor.2.3 Private sector businesses2.3.1 Legal statusSomeone setting up a business can choose to go into business alone, take on one or more partners who also share the profits of the business, or set up a limited company.2.3.1 Legal

9、 status2.3.2 Limited companiesA limited company has a separate legal personality from its owners (shareholders). The shareholders risk is generally restricted to the amount that they have invested in the company when buying the shares.Limited liability2.3.2 Limited companiesThe ownership and control

10、 of a limited company are legally separate.Shareholders are the owners but have limited rights, as shareholders, over the day to day running of the company.The ownership and control of aDirectorsare appointed by shareholders to run the company.Board of directors controls management and staff, and is

11、 accountable to the shareholdersExecutive directors participate in the daily operation of the organisation.Non-executive directors are invited to join in an advisory capacity, usually to bring their particular skills or experience to the discussions of the board to exercise some overall guidance.Dir

12、ectorsOperational managementusually consists of career managers who are recruited to operate the business, and are accountable to the board.Operational management2.3.3 Types of limited companyPrivate limited companies (eg X Limited)Public limited companies (eg X plc)They differ as follows:(a) Number

13、 of shareholders(b) Transferability of shares(c) Directors as shareholders(d) Source of capitalA private companys share capital will normally be provided from three sources: the founder or promoter; business associates of the founder or employer; venture capitalistsA public companys share capital ca

14、n be raised from the public directly, or through institutional investors, using recognised markets, 2.3.3 Types of limited company2.3.4 Advantages and disadvantages of limited companiesAdvantagesMore moneyReduces risk for investorsSeparate legal personalityOwnership is legally separate from controlN

15、o restrictions on sizeFlexibilityDisadvantagesLegal compliance costsShareholders have little practical power2.3.4 Advantages and disadvant2.4 The public sectorThe public sector comprises all organisations owned and run by the government and local government.2.4 The public sector2.4.1 Key characteris

16、tics of the public sector(a) Accountability, ultimately, to Parliament.(b) FundingRaising taxesMaking chargesBorrowing(c) Demand for services: limitless(d) Limited resources2.4.1 Key characteristics of t2.4.2 Advantages(a) Fairness(b) Filling the gaps left by the private sector(c) Public interest(d)

17、 Economies of scale(e) Cheaper finance(f) Efficiency2.4.2 Advantages2.4.3 Disadvantages(a) AccountabilityInefficiency may be ignored(b) InterferencePoliticians may not be familiar with the operation of a business and yet political pressures and indecision may influence adversely the decision making

18、process.(c) CostThe public will demand as perfect a service as possible but will not wish to bear the cost involved.2.4.3 Disadvantages2.5 Non-governmental organisationsA non-governmental organisation (NGO) is an independent voluntary association of people acting together for some common purpose (ot

19、her than achieving government office or making money).Aimed at promoting social, political or environmental change.2.5 Non-governmental organisatSome organisational features of NGOsStaffing by volunteers as well as full time employeesFinance from grants or contractsSkills in advertising and media re

20、lationsSome kind of national headquartersPlanning and budgeting expertiseSome organisational features o2.6 Co-operative societies and mutual associationsCo-operatives are businesses owned by their workers or customers, who share the profits.Open membershipDemocratic control (one member, one vote)Dis

21、tribution of the surplus in proportion to purchasesPromotion of educationMutual associations are similar to co-operative societies in that they are owned by their members rather than by outside investors.2.6 Co-operative societies andQuestionsA limited company has a separate legal identity from its

22、owners. True or false.A TrueB FalseAnswer:A QuestionsA limited company hasWhich of the following provides an example of a boundary separating an organisation from its environment?A A divisional structureB Systems and proceduresC Factory gatesD Recruitment policyAnswer: CWhich of the following provid

23、ePrimary and secondary goals are equally important in an organisation.Is this statement true or false?A TrueB FalseAnswer:BPrimary and secondary goals arWhich of the following best describes the public sector?A Companies where profits are the driving factorB Companies which are owned by a wide propo

24、rtion of the investing publicC All those organisations owned and run by the government and local governmentD Businesses owned by their workers or customers, who share the profitsAnswer:CWhich of the following best de3 Stakeholder goals and objectivesStakeholders are those individuals or groups that,

25、 potentially, have an interest in what the organisation does.Objectives must consider stakeholders.Johnson and Scholes identified three types of stakeholder: I C E3 Stakeholder goals and object3.1 Internal stakeholders: employees and managementEmployeesManagers3.2 Connected stakeholdersShareholders

26、(corporate strategy)Bankers (cash flows)Suppliers (purchase strategy)Customers (product market strategy)3.3 External stakeholdersGovernmentInterest / pressure groupsProfessional bodies3.1 Internal stakeholders: emp3.4 Another approachPrimary stakeholders: have a contractual relationship with the org

27、anisation. Includes internal and connected stakeholders.Secondary stakeholders. Equates to external stakeholders.3.5 Stakeholder conflictBetween managers and shareholders3.4 Another approach3.6 Stakeholder mapping: power and interestMendelows Matrix 3.6 Stakeholder mapping: powerThe matrix outlines

28、how to approach each stakeholderStakeholder mapping is used to assess the significance of stakeholder groups.Segment D: strategy must be acceptable key playersSegment C: keep satisfiedSegment B: keep informedSegment A: minimal effortStakeholders may move from quadrant to quadrant.The matrix outlines

29、 how to app3.7 The strategic value of stakeholdersThe firm can make strategic gains from managing stakeholder relationships.3.8 Measuring stakeholder satisfactionQualitativeQuantitative3.7 The strategic value of staQuestionsWhich of the following is not a connected stakeholder?A CustomerB EmployeeC Landlord (Lessor)D ShareholderAnswer:BQuestionsWhich of the followinQuestionsIf a stakeholder has a high level o