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Managing and and beyond corporations (Incorporated business (Public listed…
Managing and and beyond corporations
Non-incorporated organisation
Sole trader
A business owned by one owner
Partnership
A business owned by two or more owners
Business partners must share profits
Ideas can be shared, as well as work load and liability
Both have unlimited liability and personal assists may be seized if required too
Business owner can keep all profits
Easy start up, less legal requirements
Stakeholders
External environment
It is important to have a good relationship between manger and stake holders in order for organisational outcomes to be successful
SpecificCustomers, supplier, competitors, Public pressure groups,
It is the right thing
General- Global, government, economical, technological, legal, political, sociocultural
It is ethical to have a relationship and follow needs and requirements of stake holders between organisation, mangers and stay holders
Stakeholders have a vested intrest to organisational success
Incorporated business
Private limited
Can have up to 50 shares
Is privately shared, if wanting to purchase new shares then must consult and receive permission from other shareholders as well as buy it off someone that currently owns them
Limited liability
Own legal entity
Not available to public
Public listed
Listed to the public
Can have unlimited number of shares
Anyone can purchase shares through stoke exchange
Consequence of growth
Organisation floated = Private to Public
Enables organisations to grow greater investment if required
Access to greater capital
Legal constraints and more procedures
Investors not entitled to 100% of profits
Non - incorprated
Charities
Government organisations
Use tax payer money in order to fund these organisations
Services in which public sectors cannot fund
Exist for taxpayer benefit
Public goods- Defence, infrastructure and transport
Merit services- Educationa and health services
Tax exempt
Charities exists to provide goods/ services to an target group and not for profit
Have volunteers
Some staff they pay below market prices
Some staff above market price
Receive donations in order to pursuit
Surplus: Profit, Deficit: Loss
Operate at low cost
Social responsibility management
Society has constant change of values, ethics and morales that company must keep up with
How organisation should be managed
Used to have a classical view which was convenital now is sustainable and is socioeconomic view