sole proprietor if they are legally able to enter a binding contract. Operates under a person’s name‚ no name declaration required. Advantages: Easy and cheap to start Pride of ownership No special taxes Flexibility of Control Secrecy Disadvantages: Unlimited liability Limited growth Limited life span Overwhelming time commitment Limited financial resources Partnership: Provincial laws require a partnership must legally register its name and give information about the partners. An
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the works of Watrick and Cochran. The 90s The literature in the 90s tried to answer why some companies perform better than others and examined if CSR could be identified as one competitive advantage. Scholars tried to apply the stakeholder theory to CSR (* stakeholders‚
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Unit 1 – the business environment Stakeholders are extremely important to a business. A stakeholder is basically a group of individuals or a particular organisation that have an interest in the company’s decisions. Stakeholders can be categorised into two sections; internal and external. Internal stakeholders for example are employees within the company whereas external stakeholders are customers‚ suppliers‚ trade unions and much more.an example of a stakeholder is in KFC. Their job is to work within
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International Financial Economics: Case 1 Case 1: NEC Electronics Faas Gelens 10034714 Tanguy Wagenaar 10243690 Tom Hayje 10025332 Guoxiao Xia 10825746 Daan Sliepenbeek 10834990 1 Corporate Strategy and Business Development Question 1A Characteristics Kereitsu Definition Kereitsu: set of companies with interlocking business relationships and shareholdings. Two kinds of Keiretsus Horizontal: Vertical: - Set up around a Japanese bank - Group of companies within horizontal Keirersu - Company
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Chapter 01 The Corporation and Its Stakeholders True / False Questions 1. General Motors has been called a "template for 21st century capitalism." True False 2. A business is any organization that is engaged in making a product or providing a service for a profit. True False 3. Businesses and society are independent of one another. True False 4. The stakeholder theory of the firm argues that a firm’s sole purpose is to create value for its shareholders. True
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and society are independent of one another. True False The stakeholder theory of the firm argues that a firm’s sole purpose is to create value for its shareholders. True False The instrumental argument for the stakeholder theory of the firm says that companies perform better if they consider the rights and concerns of multiple groups in society. True False The normative argument for the stakeholder theory of the firm says that the stakeholder view is simply a more realistic description of how companies
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Stakeholders Stakeholders are the ones who have a stake in the organization and thus in some way or the other are related to the organization. This broad definition of stakeholders often leads to confusion; hence a more narrow definition was derived that explains “group who are vital for the organization or groups that help to define the organization‚ its mission‚ purpose and goals‚ and or are most affected by the activities of the organization” (Lebeer‚ 2002‚ p.181). Considering the above
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| | |BTEC NATIONAL Diploma in Business | | | |2012 - 2014
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2—Social Responsibility MULTIPLE CHOICE 1. Stakeholders’ power over businesses stems from their a. ability to withdraw or withhold resources. b. ability to generate profits. c. media impact. d. political influence. e. stock ownership. ANS: A PTS: 1 2. Those who have a claim in some aspect of a firm’s products‚ operations‚ markets‚ industry‚ and outcomes are known as a. shareholders. b. stockholders. c. stakeholders. d. claimholders. e. special-interest groups.
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Monsanto’s started to use the synthetic hormone‚ Posilac I used these stakeholders because they were directly affected by Monsanto’s use of Posilac. It helps cows produce more milk but may cause health problems that affect other stakeholders. =secondary stakeholders =primary stakeholders Questions about your application of the Stakeholder Model of Organizational Decision-Making to the Monsanto case: 1. Why did you decide on the decision
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