The following essay explains the importance of cost accounting for stakeholders of Multinational Companies‚ particularly the shareholders & the customers. Who are the stakeholders of an organization? according to (Freeman 1984) stakeholder is “any group or individual who can affect or is affected by the achievement of the firm’s objectives” going by this definition stakeholders of a company would include lenders‚ creditors‚ customers‚ shareholders‚ government‚ media‚ political groups‚ local charities
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Stakeholder theory has been articulated in a number of ways‚ but in each of these ways stakeholders represent a broader constituency for corporate responsibility than stockholders. Discussions of stakeholder theory invariably present contrasting views of whether a corporation’s responsibility is primarily (or only) to deliver profits to the stockholders/owners. Milton Friedman’s (1912-) now-famous pronouncement that the only social responsibility of corporations is to provide a profit for its owners
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The Stakeholder Theory: Aiding in the Long Term Success of Corporations Managers of corporations‚ big and small‚ must make decisions everyday‚ incorporating the appropriate ethics and also maximizing corporate profit. The two major theories in decision-making are the Stockholder theory and the Stakeholder theory‚ both of which I will be explaining. First‚ I will explain the Stockholder theory as a short-term profit oriented model with regards to business ethics decisions. Then‚ I will explain
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Stakeholder Influences on Programs In the field of Human Services‚ there are many details that must never be overlooked‚ there are many variables that must not ever be ignored‚ and there are many expectations from stakeholders that most definitely must be entertained by all staff and participants who are involved with a program. One may immediately assume when they hear the word "stakeholder" that it refers to the financial institution that has granted them the funding that made their program
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organisation has Stakeholders; these are groups or individuals that affect or are affected by the business. The number of stakeholders of a business varies and so does their importance and influence on the company. The type of organisation and the product or service it supplies also determines the stakeholders. An organisation such as Lidl has far more stakeholders than family business; it is therefore much more influenced and affected by the actions‚ aims and objectives of its stakeholders. In this report
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can be affected by an organization’s actions." A "project stakeholder" is defined as "a person‚ group or organization with an interest in a project." That could mean a sponsor (an executive‚ customer‚ supplier‚ agency‚ etc. that is sponsoring / funding the project)‚ upper management‚ a project manager‚ and others. Whoever has a "stake" in the project? In order to perform good project management‚ you need to both manage and meet stakeholder expectations. The result of the project should match their
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Shareholder theory‚ Freeman’s Stakeholder theory and Heath’s Market Failure Model of business ethics (Heath). Each of them is the pillars of which many other theories are based on but have very different and opposite views. The Shareholder theory suggests that manager has fiduciary duties to the shareholders only and must maximize profits as long as the law permits. The Stakeholder theory on the other hand suggests that managers have fiduciary duties to all stakeholders whom are positively or negatively
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2- P2 I am going to discuss the different stakeholders involved in two contrasting businesses. I am going to explore the stakeholders involved in each business and how they are affected by the company. My first organisation is Boots Alliance‚ a pharmaceutical shop on most high streets. My second organisation is Oxfam charity. Both provide goods or services to the public; however they have different stakeholders affecting their decisions. Stakeholders are anyone that affects or can affect a business’s
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should take into account are as follows: Environmental Groups Consumers Investors Media Government/Regulatory Authorities The diagram below (Figure 1.1) is a representation of some of the multifaceted relationships between BP and its publics/stakeholders. It is clear that the assortment of communication channels used to reach key publics is somewhat diverse. Whilst consumers and investors are perhaps most likely to be the primary focus‚ these two groups are highly influenced by surrounding interrelated
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Project Report On “Impact of Fortune Rice Bran Oil on different stakeholders” In the partial fulfilment of Post Graduate Diploma in Management At Cargill India Pvt. Ltd. Head Office Gurgaon‚ Haryana (Apr 2013-June 2013) Submitted by Vidit Mediratta Roll No. U112119‚ PGDM 12 Under guidance of Mr Bharat Saxena Senior Brand Manager Xavier Institute of Management Bhubaneshwar Certificate This is to certify that Vidit Mediratta‚ student of PGDM 12 has successfully completed
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