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1、Part AThe business organisation, its stakeholders and the external environmentChapter 1Business organizations and their stakeholders1 Types of organisation1.1 What all organisations have in commonAn organisation is : a social arrangement which pursues collective goals, which controls its own perform
2、ance and which has a boundary separating it from its environment.1.2 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) Organisations enable peo
3、ple 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.1.3 How organisations differOwnership (Public vs Private)Owned by the government (public se
4、ctor 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 regulatorsActivityProfit or non-profit orientationLegal statusLimited companies
5、PartnershipsSizeSources of financeBorrowing from banksGovernment fundingIssuing sharesTechnologyVarying degrees of technology use1.4 What the organisation doesOrganisations do many different types of work2 Types of business organisation2.1 Profit vs non-profit orientationProfit orientationMaximise p
6、rofit (to owners)Non profit orientationProvision of goods / services (to public / beneficiaries)2.2 Private vs public sectorPrivate sectorOrganisations not owned or run by central or local government, or government agencies.Public sectorOrganisation owned or run by central or local government agenci
7、es.2.3 Private sector businessesA business organisation exists to make a profit.Costs should be less than the revenues.Profits are not incidental to its activities but the driving factor.2.3.1 Legal statusSomeone setting up a business can choose to go into business alone, take on one or more partner
8、s who also share the profits of the business, or set up a limited company.2.3.2 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 share
9、s.Limited liabilityThe ownership and control 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.Operational managementusually consists of career managers who are recruited to operate the business,
10、 and are accountable to the board.2.3.3 Types of limited companyPrivate limited companies (eg X Limited)Public limited companies (eg X plc)They differ as follows:(a) Number of shareholders(b) Transferability of shares(c) Directors as shareholders(d) Source of capitalA private companys share capital
11、will normally be provided from three sources: the founder or promoter; business associates of the founder or employer; venture capitalistsA public companys share capital can be raised from the public directly, or through institutional investors, using recognised markets, 2.3.4 Advantages and disadva
12、ntages of limited companiesAdvantagesMore moneyReduces risk for investorsSeparate legal personalityOwnership is legally separate from controlNo restrictions on sizeFlexibilityDisadvantagesLegal compliance costsShareholders have little practical power2.4 The public sectorThe public sector comprises a
13、ll organisations owned and run by the government and local government.2.4.1 Key characteristics of the public sector(a) Accountability, ultimately, to Parliament.(b) FundingRaising taxesMaking chargesBorrowing(c) Demand for services: limitless(d) Limited resources2.4.2 Advantages(a) Fairness(b) Fill
14、ing the gaps left by the private sector(c) Public interest(d) Economies of scale(e) Cheaper finance(f) Efficiency2.4.3 Disadvantages(a) AccountabilityInefficiency may be ignored(b) InterferencePoliticians may not be familiar with the operation of a business and yet political pressures and indecision
15、 may influence adversely the decision making process.(c) CostThe public will demand as perfect a service as possible but will not wish to bear the cost involved.2.5 Non-governmental organisationsA non-governmental organisation (NGO) is an independent voluntary association of people acting together f
16、or some common purpose (other than achieving government office or making money).Aimed at promoting social, political or environmental change.Some organisational features of NGOsStaffing by volunteers as well as full time employeesFinance from grants or contractsSkills in advertising and media relati
17、onsSome kind of national headquartersPlanning and budgeting expertise2.6 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)Distribution of the surplus in propor
18、tion to purchasesPromotion of educationMutual associations are similar to co-operative societies in that they are owned by their members rather than by outside investors.QuestionsA limited company has a separate legal identity from its owners. True or false.A TrueB FalseAnswer:A Which of the followi
19、ng provides an example of a boundary separating an organisation from its environment?A A divisional structureB Systems and proceduresC Factory gatesD Recruitment policyAnswer: CPrimary and secondary goals are equally important in an organisation.Is this statement true or false?A TrueB FalseAnswer:BW
20、hich of the following best describes the public sector?A Companies where profits are the driving factorB Companies which are owned by a wide proportion of the investing publicC All those organisations owned and run by the government and local governmentD Businesses owned by their workers or customer
21、s, who share the profitsAnswer:C3 Stakeholder goals and objectivesStakeholders are those individuals or groups that, potentially, have an interest in what the organisation does.Objectives must consider stakeholders.Johnson and Scholes identified three types of stakeholder: I C E3.1 Internal stakehol
22、ders: employees and managementEmployeesManagers3.2 Connected stakeholdersShareholders (corporate strategy)Bankers (cash flows)Suppliers (purchase strategy)Customers (product market strategy)3.3 External stakeholdersGovernmentInterest / pressure groupsProfessional bodies3.4 Another approachPrimary st
23、akeholders: have a contractual relationship with the organisation. Includes internal and connected stakeholders.Secondary stakeholders. Equates to external stakeholders.3.5 Stakeholder conflictBetween managers and shareholders3.6 Stakeholder mapping: power and interestMendelows Matrix The matrix out
24、lines 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.3.7 The strat
25、egic value of stakeholdersThe firm can make strategic gains from managing stakeholder relationships.3.8 Measuring stakeholder satisfactionQualitativeQuantitativeQuestionsWhich of the following is not a connected stakeholder?A CustomerB EmployeeC Landlord (Lessor)D ShareholderAnswer:BQuestionsIf a st
26、akeholder has a high level of interest in the company and has high power under Mendelows stakeholder mapping grid, the stakeholder is classified as:A Minimal effortB Keep informedC Key playersD Keep satisfiedAnswer:CWhich of the following is a connected stakeholder?A Professional bodyB EmployeeC Sup
27、plierD ManagerAnswer: CWhy can conflict between stakeholders be quite common?A Different shareholders will have different risk/return profilesB Managers do not need to take their views into accountC Their interests will generally be widely differentD All of the aboveAnswer: CWhich of the following is regarded as a primary stakeholder?A One who is more strategically important than othersB The governmentC One who has a contractual relationship with the organisationD An external stakeholderAnswer: CSUMMARY
