上海財大ACCAF1講義1

上海財大ACCAF1講義1第一頁，共45頁。Chapter1Businessorganizationsandtheirstakeholders第二頁，共45頁。1Typesoforganisation1.1WhatallorganisationshaveincommonAnorganisationis:asocialarrangementwhichpursuescollectivegoals,whichcontrolsitsownperformanceandwhichhasaboundaryseparatingitfromitsenvironment.第三頁，共45頁。1.2Whydoorganisationsexist?Organisationscanachieveresultswhichindividualscannotachievebythemselves.(a)Oraganisationsovercomepeople’sindividuallimitations,whetherphysicalorintellectural.(b)Organisationsenablepeopletospecialiseinwhattheydobest.(c)Organisationssavetime.(d)Organisationsaccumulateandshareknowledge.(e)Organisationsenablesynerge.Inbrief,organisationsenablepeopletobemoreproductive.第四頁，共45頁。1.3HoworganisationsdifferOwnership(PublicvsPrivate)Ownedbythegovernment(publicsectororganisations)Ownedbyprivateownersorshareholders(privatesectororganisations)ControlControlledbytheownersthemselvesControlledbypeopleworkingontheirbehalfIndirectlycontrolledbygovernment-sponsoredregulators第五頁，共45頁。ActivityProfitornon-profitorientationLegalstatusLimitedcompaniesPartnershipsSize第六頁，共45頁。SourcesoffinanceBorrowingfrombanksGovernmentfundingIssuingsharesTechnologyVaryingdegreesoftechnologyuse第七頁，共45頁。1.4WhattheorganisationdoesOrganisationsdomanydifferenttypesofwork第八頁，共45頁。2Typesofbusinessorganisation2.1

Profitvsnon-profitorientationProfitorientationMaximiseprofit(toowners)NonprofitorientationProvisionofgoods/services(topublic/beneficiaries)第九頁，共45頁。2.2

PrivatevspublicsectorPrivatesectorOrganisationsnotownedorrunbycentralorlocalgovernment,orgovernmentagencies.PublicsectorOrganisationownedorrunbycentralorlocalgovernmentagencies.第十頁，共45頁。2.3

PrivatesectorbusinessesAbusinessorganisationexiststomakeaprofit.Costsshouldbelessthantherevenues.Profitsarenotincidentaltoitsactivitiesbutthedrivingfactor.第十一頁，共45頁。2.3.1LegalstatusSomeonesettingupabusinesscanchoosetogointobusinessalone,takeononeormorepartnerswhoalsosharetheprofitsofthebusiness,orsetupalimitedcompany.第十二頁，共45頁。2.3.2LimitedcompaniesAlimitedcompanyhasaseparatelegalpersonalityfromitsowners(shareholders).Theshareholders’riskisgenerallyrestrictedtotheamountthattheyhaveinvestedinthecompanywhenbuyingtheshares.Limitedliability第十三頁，共45頁。Theownershipandcontrolofalimitedcompanyarelegallyseparate.Shareholdersaretheownersbuthavelimitedrights,asshareholders,overthedaytodayrunningofthecompany.第十四頁，共45頁。Directorsareappointedbyshareholderstorunthecompany.Boardofdirectorscontrolsmanagementandstaff,andisaccountabletotheshareholdersExecutivedirectorsparticipateinthedailyoperationoftheorganisation.Non-executivedirectorsareinvitedtojoininanadvisorycapacity,usuallytobringtheirparticularskillsorexperiencetothediscussionsoftheboardtoexercisesomeoverallguidance.第十五頁，共45頁。Operationalmanagementusuallyconsistsofcareermanagerswhoarerecruitedtooperatethebusiness,andareaccountabletotheboard.第十六頁，共45頁。2.3.3TypesoflimitedcompanyPrivatelimitedcompanies(egXLimited)Publiclimitedcompanies(egXplc)Theydifferasfollows:(a)Numberofshareholders(b)Transferabilityofshares(c)Directorsasshareholders(d)SourceofcapitalAprivatecompany’ssharecapitalwillnormallybeprovidedfromthreesources:thefounderorpromoter;businessassociatesofthefounderoremployer;venturecapitalistsApubliccompany’ssharecapitalcanberaisedfromthepublicdirectly,orthroughinstitutionalinvestors,usingrecognisedmarkets,第十七頁，共45頁。2.3.4AdvantagesanddisadvantagesoflimitedcompaniesAdvantagesMoremoneyReducesriskforinvestorsSeparatelegalpersonalityOwnershipislegallyseparatefromcontrolNorestrictionsonsizeFlexibilityDisadvantagesLegalcompliancecostsShareholdershavelittlepracticalpower第十八頁，共45頁。2.4

ThepublicsectorThepublicsectorcomprisesallorganisationsownedandrunbythegovernmentandlocalgovernment.第十九頁，共45頁。2.4.1Keycharacteristicsofthepublicsector(a)Accountability,ultimately,toParliament.(b)FundingRaisingtaxesMakingchargesBorrowing(c)Demandforservices:limitless(d)Limitedresources第二十頁，共45頁。2.4.2Advantages(a)Fairness(b)Fillingthegapsleftbytheprivatesector(c)Publicinterest(d)Economiesofscale(e)Cheaperfinance(f)Efficiency第二十一頁，共45頁。2.4.3Disadvantages(a)AccountabilityInefficiencymaybeignored(b)InterferencePoliticiansmaynotbefamiliarwiththeoperationofabusinessandyetpoliticalpressuresandindecisionmayinfluenceadverselythedecisionmakingprocess.(c)CostThepublicwilldemandasperfectaserviceaspossiblebutwillnotwishtobearthecostinvolved.第二十二頁，共45頁。2.5

Non-governmentalorganisationsAnon-governmentalorganisation(NGO)isanindependentvoluntaryassociationofpeopleactingtogetherforsomecommonpurpose(otherthanachievinggovernmentofficeormakingmoney).Aimedatpromotingsocial,politicalorenvironmentalchange.第二十三頁，共45頁。SomeorganisationalfeaturesofNGOsStaffingbyvolunteersaswellasfulltimeemployeesFinancefromgrantsorcontractsSkillsinadvertisingandmediarelationsSomekindofnational‘headquarters’Planningandbudgetingexpertise第二十四頁，共45頁。2.6

Co-operativesocietiesandmutualassociationsCo-operativesarebusinessesownedbytheirworkersorcustomers,whosharetheprofits.OpenmembershipDemocraticcontrol(onemember,onevote)DistributionofthesurplusinproportiontopurchasesPromotionofeducationMutualassociationsaresimilartoco-operativesocietiesinthattheyare‘owned’bytheirmembersratherthanbyoutsideinvestors.第二十五頁，共45頁。QuestionsAlimitedcompanyhasaseparatelegalidentityfromitsowners.Trueorfalse.ATrueBFalseAnswer:A第二十六頁，共45頁。Whichofthefollowingprovidesanexampleofa‘boundary’separatinganorganisationfromitsenvironment?AAdivisionalstructureBSystemsandproceduresCFactorygatesDRecruitmentpolicyAnswer:C第二十七頁，共45頁。Primaryandsecondarygoalsareequallyimportantinanorganisation.Isthisstatementtrueorfalse?ATrueBFalseAnswer:B第二十八頁，共45頁。Whichofthefollowingbestdescribesthepublicsector?ACompanieswhereprofitsarethedrivingfactorBCompanieswhichareownedbyawideproportionoftheinvestingpublicCAllthoseorganisationsownedandrunbythegovernmentandlocalgovernmentDBusinessesownedbytheirworkersorcustomers,whosharetheprofitsAnswer:C第二十九頁，共45頁。3StakeholdergoalsandobjectivesStakeholdersarethoseindividualsorgroupsthat,potentially,haveaninterestinwhattheorganisationdoes.Objectivesmustconsiderstakeholders.JohnsonandScholesidentifiedthreetypesofstakeholder:ICE第三十頁，共45頁。3.1Internalstakeholders:employeesandmanagementEmployeesManagers3.2ConnectedstakeholdersShareholders(corporatestrategy)Bankers(cashflows)Suppliers(purchasestrategy)Customers(productmarketstrategy)3.3ExternalstakeholdersGovernmentInterest/pressuregroupsProfessionalbodies第三十一頁，共45頁。3.4AnotherapproachPrimarystakeholders:haveacontractualrelationshipwiththeorganisation.Includesinternalandconnectedstakeholders.Secondarystakeholders.Equatestoexternalstakeholders.3.5StakeholderconflictBetweenmanagersandshareholders第三十二頁，共45頁。3.6Stakeholdermapping:powerandinterestMendelow’sMatrix第三十三頁，共45頁。ThematrixoutlineshowtoapproacheachstakeholderStakeholdermappingisusedtoassessthesignificanceofstakeholdergroups.SegmentD:strategymustbeacceptable–keyplayersSegmentC:keepsatisfiedSegmentB:keepinformedSegmentA:minimaleffortStakeholdersmaymovefromquadranttoquadrant.第三十四頁，共45頁。3.7ThestrategicvalueofstakeholdersThefirmcanmakestrategicgainsfrommanagingstakeholderrelationships.3.8MeasuringstakeholdersatisfactionQualitativeQuantitative第三十五頁，共45頁。QuestionsWhichofthefollowingisnotaconnectedstakeholder?ACustomerBEmployeeCLandlord(Lessor)DShareholderAnswer:B第三十六頁，共45頁。QuestionsIfastakeholderhasahighlevelof