Stakeholders
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This document discusses stakeholders in business organizations. It defines internal stakeholders as those within the organization, like shareholders, managers, and employees, and external stakeholders outside the organization, like government, customers, and community members. There can be conflicts between stakeholders when their interests do not align, such as between shareholders prioritizing profits and employees wanting higher pay. The document also introduces stakeholder mapping as a tool to analyze how close different stakeholder groups are to decision-making and their power to influence the organization. Managing stakeholders effectively is important for business success.
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8 Stakeholders
Stakeholders are individuals or groups that have an interest or concern in the activities and outcomes of a business. There are internal stakeholders such as employees and managers, and external stakeholders such as customers, suppliers, local communities, and government bodies. Stakeholders can influence business decisions through various means like voting rights, industrial action, purchasing decisions, or new laws and regulations. However, different stakeholder groups may have conflicting aims for the business, such as customers wanting low prices versus shareholders wanting high profits and dividends. Managing these relationships and resolving conflicts is important for business success.
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1) The Anglo-American model has separation of ownership and control with shareholders appointing directors who appoint managers. Disclosure and investor protection rules are strong.
2) The German model has a two-tier board structure with equal shareholder and employee representation on the supervisory board.
3) The Japanese model emphasizes relationships between companies in keiretsu networks, with main banks and shareholders appointing boards.
4) The Indian model mixes Anglo-American and German approaches depending on the type of corporation, with private companies following the German model more closely.
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1) A contractual view sees duties as those created by the contractual relationship between firm and customer.
2) A due care theory argues firms have a duty to ensure consumer safety since consumers must rely on them.
3) A social costs view is that firms should pay for any injuries caused by defects, even if unforeseeable, to properly distribute costs.
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The document summarizes three models of corporate governance: the Anglo-US model, Japanese model, and German model.
The Anglo-US model is characterized by dispersed share ownership among individual and institutional investors. Power is balanced among management, directors, and shareholders. The board consists mainly of outsiders.
The Japanese model features concentrated ownership among main banks and affiliated companies. Interaction centers around the main bank. Boards are comprised solely of insiders.
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Stakeholders are individuals or groups that have an interest or concern in the activities and outcomes of a business. There are internal stakeholders such as employees and managers, and external stakeholders such as customers, suppliers, local communities, and government bodies. Stakeholders can influence business decisions through various means like voting rights, industrial action, purchasing decisions, or new laws and regulations. However, different stakeholder groups may have conflicting aims for the business, such as customers wanting low prices versus shareholders wanting high profits and dividends. Managing these relationships and resolving conflicts is important for business success.
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This document outlines three main models of corporate governance: the Anglo-US model, Japanese model, and German model. It describes the key elements of each model, including the main players (e.g. management, directors, shareholders), ownership patterns, board composition, regulatory frameworks, and disclosure requirements. The Anglo-US model is characterized by dispersed share ownership among individual and institutional investors. The German model uniquely prescribes a two-tiered board structure consisting of a supervisory board and management board, with the supervisory board overseeing the management board. It also limits voting rights and includes employee representatives on the supervisory board.
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The document discusses four models of corporate governance:
1) The Anglo-American model has separation of ownership and control with shareholders appointing directors who appoint managers. Disclosure and investor protection rules are strong.
2) The German model has a two-tier board structure with equal shareholder and employee representation on the supervisory board.
3) The Japanese model emphasizes relationships between companies in keiretsu networks, with main banks and shareholders appointing boards.
4) The Indian model mixes Anglo-American and German approaches depending on the type of corporation, with private companies following the German model more closely.
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This document discusses the impacts of internal business changes on stakeholders. It identifies stakeholders as any group or individual affected by a business's decisions. Effective managers identify stakeholders to understand how they will react to changes. There are internal stakeholders like employees and managers, and external ones like customers, suppliers, and governments. An internal change can positively or negatively impact stakeholders. For example, a successful strategy may increase customers and profits, while an unsuccessful one could lead to lower revenue and redundancy of employees. The financial impacts on a business are also discussed, such as changes to revenue, costs, profits, and share price resulting from strategic changes.
The ethics of consumer production and marketing
The document discusses several theories of a business firm's duties to consumers:
1) A contractual view sees duties as those created by the contractual relationship between firm and customer.
2) A due care theory argues firms have a duty to ensure consumer safety since consumers must rely on them.
3) A social costs view is that firms should pay for any injuries caused by defects, even if unforeseeable, to properly distribute costs.
However, each view has criticisms, such as unrealistic assumptions about market dynamics or consumer behavior. Balancing consumer privacy and business needs considers legitimate collection and use of information with consumer consent and protection.
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The document summarizes three models of corporate governance: the Anglo-US model, Japanese model, and German model.
The Anglo-US model is characterized by dispersed share ownership among individual and institutional investors. Power is balanced among management, directors, and shareholders. The board consists mainly of outsiders.
The Japanese model features concentrated ownership among main banks and affiliated companies. Interaction centers around the main bank. Boards are comprised solely of insiders.
The German model uses a two-tier board structure dividing management and oversight. Banks and corporations are large shareholders. Employees are represented on supervisory boards.
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- 1. Business Organization and Environment(Unit one) 1-4 Stakeholders Dr. Fereshteh Mohammadian
- 2. Internal & External stakeholder Source: https://www.boundless.com/accounting/textbooks/boundless-accounting-textbook/introduction-to-accounting-1/overview-of-key-elements-of-the-business-19/business-stakeholders-internal-and-external-117-6595/
- 3. The interest of internal stakeholders Internal stakeholders Their interests by focusing on shareholders returns on their investments The CEO or managing director coordinating the business strategy and delivering profits and satisfy the shareholders Senior managers the strategic objectives Middle managers the tactical objectives Foremen and supervisors Organizing tactical objectives and formulating operational objectives Employees and their unions Protecting their rights and working conditions
- 4. The interest of external stakeholders External stakeholders Their interests by focusing on Government (at all levels) How the business operates in the business environment. suppliers Maintaining a stable relationship Customers and consumers The best product that meets their needs People in the local community Impact of the business in the local area financiers Returns on their investments Pressure groups How the business has impact on their area of concern The media The impact of the business in terms of news
- 5. Conflict between stakeholders Increasing of employees’ payment • Shareholders…..believe that may cause decrease their profit & return of their investments • Employees….think that it could give them higher standard of living • The CEO and senior managers….higher wages=happier employees but lower profits • Managers……raising payment, as extrinsic motivation, might undermine their efforts to foster of intrinsic motivation • The local community…..higher wages=spending more money in the local community
- 6. Intrinsic & Extrinsic Motivation https://www.pinterest.com/piranha0000/vocabulary-words-english/ https://www.google.ae/url?sa=i&rct=j&q=&esrc=s&source=imgres&cd=&ved=0ahUKEwifz96BsI3QAhVoK8AKHezlACYQjRwIBw&url=https%3A%2F%2Fcreatingki ngs.com%2F2016%2F06%2F07%2Fintrinsic-vs-extrinsic-motivation%2F&psig=AFQjCNHQgPDQWlu08mOIHnz9vheNleAaBg&ust=1478289591229257
- 8. All stakeholders would like a successful business. Successful business can sufficiently satisfy the interest of stakeholders most of the time. • For large businesses is more complicated than sole traders (because of more internal stakeholders).
- 9. Satisfaction of internal stakeholders For sole traders Pay expenses+ provide profits+ be in compliance with gov. laws and regulations In larger businesses: (reflection of stakeholders about raising the employees’ salaries) 20% reduction of workforce expenses productivity Increasing of pressure on the retained workers + being unhappy to see retrenching of their co- workers + sense of fear to lose their job too to support the unemployed persons Governments expenses many people move away from the town depression of real state markets decrease of number of children Layoffs of teacher in schools less customers purchases depression of local businesses
- 10. Stakeholder Analysis Governmen t Pressure groups Local community Media Employees Consumers Suppliers Financiers Owners Managers The comparative closeness of stakeholders to decision making Decision makers try to satisfy those stakeholder closest to the center.
- 11. Stakeholder Mapping Group C: keep satisfied Pivotal group Power to influence other groups, Their self-esteem should be flattered to make them feel important. Group D: key factors Manage closely The most important stakeholders, The business should communicate, consult with them and focus on their needs. Group B: keep informed Make them feel they are important and belong to the business by newsletters, events, Group A: Minimal effort Monitor Rarely made problem for business Limited energy & attention to satisfy them Low High Level of interest Low High Degreeofpower
- 12. IMPORTANCE OF STAKEHOLDERS IN THE BUSINESS Group A Group B Group C Group D Least important to the business Most important to the business