MindMap Gallery ACCA F1 Chapter 1 Detailed Mind Map
This is a CHAPTER 1 mind map of Business organizations and its stakeholders. It introduces two aspects: The nature of organization and Stakerholders, concisely and clearly.
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This is a mind map about bacteria, and its main contents include: overview, morphology, types, structure, reproduction, distribution, application, and expansion. The summary is comprehensive and meticulous, suitable as review materials.
This is a mind map about plant asexual reproduction, and its main contents include: concept, spore reproduction, vegetative reproduction, tissue culture, and buds. The summary is comprehensive and meticulous, suitable as review materials.
This is a mind map about the reproductive development of animals, and its main contents include: insects, frogs, birds, sexual reproduction, and asexual reproduction. The summary is comprehensive and meticulous, suitable as review materials.
CHAPTER 1 Business organizations and its stakeholders
The nature of organization
Definition
Social arrangement
Collective goals
Control its own performance
Boundary
Benefits
Overcome individual`s limitations
Specialize
Save time :do different tasks at the same time
Share knowledge and experience
Synergy:1 1>2
Classifying it by profit orientation
Profit-seeking (Commercial)
maximizing thte wealth of their owners
Non-for-profit (NFP/NPO)
Value for money 3E
Economy
Efficiency conversion rate
Effectiveness
Classifying it by ownership
Public sector
provide basic government services
Accountability: be answerable to (responsible upward)
Source of funds: tax, public borrowing
Demand of services: goods and services, infinite (unlimited) demand
Resource constraint: scarcity resources
owned by government
Private sector (NGO)
owned by government
social or political aim
fund: government grants (government grants)
full-time employees and volunteers
Special type: mutual organization (mutual aid organization)
co-operative and mutual association
non-profit, owned by its members (workers and customers) to meet their needs
Democratic control: one note, one member
No external investors: distribute the surplus in proportion to purchases of their members
Classifying it by legal status
sole trader
one
run and own the entire
Partnership
two or more
share the profits as well as risks of the business (unlimited joint and several liability)
Limited liability companies
separated legal personality
limited liability
insolvent---personal asserts remain protected
two types
number of shareholders, transferability (stock liquidity, transferability), ownership and control (ownership control), access of finace
private limited (private)
large number of shares; no right to subscribe for the shares; two rights overlap
public limited (shares): publicly listed companies/listed companies (listed companies)
small or even no shares; has right to invite the public to subscribe for the shares; separation of the two rights
Stakerholders
Definition
individuals or groups
potentially have an interets in what the organization does
organization understands the needs of the different stakeholders
Typical types of stakeholders
Internal: managers and employees
Connected: shareholders, financiers, suppliers, customers
External: government, the community, pressure group, trade union (trade union)
ice theory
Another approach
Primary stakeholders: have contractual relationship with the organization
Secondary stakeholders: do not have this relationship
Stakerholder conflicts
Customers vs shareholders
product price/quality/service level vs profits/dividends
General public vs shareholders
effect on the environment vs profits/dividends
Shareholders vs managers
long term return vs short term profits/bonus
Mendelow matix/Stakerholder mapping
low power low interest
minimal effort
low power high interest
keep informed
high power low interest
keep satisfied
high power high interest
key players