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1、Part A,The business organisation,its stakeholders and the external environment,Chapter 1,Business organizations and their stakeholders,1 Types of organisation,1.1 What all organisations have in commonAn organisation is:a social arrangement which pursues collective goals,which controls its own perfor
2、mance 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 peop
3、le 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 sector o
4、rganisations)Owned by private owners or shareholders(private sector organisations)ControlControlled by the owners themselvesControlled by people working on their behalfIndirectly controlled by government-sponsored regulators,ActivityProfit or non-profit orientationLegal statusLimited companiesPartne
5、rshipsSize,Sources of financeBorrowing from banksGovernment fundingIssuing sharesTechnologyVarying degrees of technology use,1.4 What the organisation doesOrganisations do many different types of work,2 Types of business organisation,2.1 Profit vs non-profit orientationProfit orientationMaximise pro
6、fit(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 agencies.,2.3
7、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 partners who a
8、lso 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 shares.Limited
9、 liability,The 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.,Directorsare appointed by shareholders to run the company.Board of directors controls management and staff,an
10、d is 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.
11、,Operational managementusually consists of career managers who are recruited to operate the business,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)Transferabi
12、lity 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 can be raised from the public directly
13、,or through institutional investors,using recognised markets,2.3.4 Advantages and disadvantages of limited companiesAdvantagesMore moneyReduces risk for investorsSeparate legal personalityOwnership is legally separate from controlNo restrictions on sizeFlexibilityDisadvantagesLegal compliance costsS
14、hareholders have little practical power,2.4 The public sectorThe public sector comprises all 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)D
15、emand for services:limitless(d)Limited resources,2.4.2 Advantages(a)Fairness(b)Filling the gaps left by the private sector(c)Public interest(d)Economies of scale(e)Cheaper finance(f)Efficiency,2.4.3 Disadvantages(a)AccountabilityInefficiency may be ignored(b)InterferencePoliticians may not be famili
16、ar with the operation of a business and yet political pressures and indecision 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 organisa
17、tion(NGO)is an independent voluntary association of people acting together for 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 empl
18、oyeesFinance from grants or contractsSkills in advertising and media relationsSome kind of national headquartersPlanning and budgeting expertise,2.6 Co-operative societies and mutual associationsCo-operatives are businesses owned by their workers or customers,who share the profits.Open membershipDem
19、ocratic control(one member,one vote)Distribution 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.,Questions,A limited company has a separate legal identit
20、y from its owners.True or false.A TrueB FalseAnswer:A,Which 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:C,Primary and secondary goals are equally important
21、 in an organisation.Is this statement true or false?A TrueB FalseAnswer:B,Which 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 gov
22、ernment and local governmentD Businesses owned by their workers or customers,who share the profitsAnswer:C,3 Stakeholder goals and objectives,Stakeholders are those individuals or groups that,potentially,have an interest in what the organisation does.Objectives must consider stakeholders.Johnson and
23、 Scholes identified three types of stakeholder:I C E,3.1 Internal stakeholders:employees and managementEmployeesManagers3.2 Connected stakeholdersShareholders(corporate strategy)Bankers(cash flows)Suppliers(purchase strategy)Customers(product market strategy)3.3 External stakeholdersGovernmentIntere
24、st/pressure groupsProfessional bodies,3.4 Another approachPrimary stakeholders:have a contractual relationship with the organisation.Includes internal and connected stakeholders.Secondary stakeholders.Equates to external stakeholders.3.5 Stakeholder conflictBetween managers and shareholders,3.6 Stak
25、eholder mapping:power and interestMendelows Matrix,The matrix outlines 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 effort
26、Stakeholders may move from quadrant to quadrant.,3.7 The strategic value of stakeholdersThe firm can make strategic gains from managing stakeholder relationships.3.8 Measuring stakeholder satisfactionQualitativeQuantitative,Questions,Which of the following is not a connected stakeholder?A CustomerB
27、EmployeeC Landlord(Lessor)D ShareholderAnswer:B,Questions,If a stakeholder 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:C,Which of the follow
28、ing is a connected stakeholder?A Professional bodyB EmployeeC SupplierD ManagerAnswer:C,Why 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:C,Which 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:C,SUMMARY,
