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1、Module 1: Introduction to Organizations1.1 Types of Organizations Sole traders 个体所有，只有一个business ownerFeatures 1. Owned by just one person Control 1. Owner has full control over decision making and receives all the profits Advantages 1. Easy to set up business 2. Complete control 3. Owner keep all t
2、he profit -but it may not be much 4. Personal service - can get to know customers very well 5. Privacy - not required to publish financial accounts Disadvantages 1. Unlimited liability 业主对债务承担无限责任简单地说就是一旦企业经营不善蚀了本，业主变卖自己的财产还清公司所欠债务2. Shortage of finance - may prevent expansion 金钱有限，企业扩张乏力3. Pressure
3、 of responsibility 4. Lack of expertise 5. Lack of continuity - owner dies, business dies 经营缺乏延续性，业主死，生意完结Partnerships 合伙制，business owner一个以上，每个人出资，参与决策，分享利润Features 1. Joint ownership of more than one owner 2. Each owner: . o contributes financially . o shares decision-making . o shares profits 3.
4、Unlimited liability 业主对债务承担无限责任4. Shared workloads and profits(not necessarily equally) 5. Shared decision-makingAdvantages 1. Extra financing 2. Additional skills 3. Shared workload Disadvantages 1. Unlimited liability 2. Shared profits 3. Disagreements may lead to conflict 4. Still shortage of cap
5、ital Companies/Corporations 股份有限公司因其优点成为现代企业最普遍的组织形式General features 1. need to registerSet up: with Registrar Of Companies (ROC) 2. separate legal entityThe business is a separate legal entity from the owners 3. Limited liability 有限责任：业主仅以其一定限额的财产作为清偿债务担保的4. Capital invested through purchase of sha
6、res 股份制实现出资5. Shareholders全体股东/Owners6. Board of Directors董事会，由全体股东选举产生Day to day operations run by which are elected by the Shareholders Control 1. Shareholders share decision-making 2. Power depends on amount of shares Private Limited Companies 有限责任公司LTD的股票不上市发行，也不能随意买卖流通(LTD) Features 1. Share ca
7、nnot be traded in stock market 2. All shareholders must agree on transfer of shares Advantages 1. Limited liability 2. Greater source of finance 3. Continuity - owner dies, business lives on Disadvantages 1. Legal requirements 2. Loss of privacy financial statements need to be published Public Limit
8、ed Companies (PLC) 上市公司跟LTD区别在于PLC的股票上市并且可以随意买卖Features 1. The shares can be traded publicly2. Shares are advertised and listed in Stock Market Advantages 1. Greater sources of finance 2. Expansion - huge capital 3. Credibility(Relative transparency of Financials) - easier to get credit, bank loans,
9、 etc. Disadvantages 1. High costs IPO(Initial Public Offering) can be very expensive 2. Potential danger of losing control 3. Diseconomy of scale (the company gets bigger, it will lack flexibility, beuraocracy, etc)Cooperatives Features 1. Business owned and controlled equally by those who uses its
10、services or work at it 2. Earnings are shared as dividends - shared according to participation 3. Membership and ownership is open in publicFranchises 特许加盟Features 1. authorizeeFranchisor授权加盟者食用品牌和技术 Franchisors proven methods and trademarks of their business to franchisees 2. Franchisees need to pa
11、y fee or percentage of sales 加盟商要付钱和franchisor3. Reduced risk of failure 对加盟商而言 因为经营的是成熟的品牌 有现成的商业模式和技术 所以运营风险降低很多Typical franchise package usually includes: ? use of brand name & image ? advertising campaigns ? materials and equipments ? training ? exclusive area to sell Control ? Owner not entirel
12、y his own boss ? Franchisor makes key decisions about location, marketing, etc. Advantages 1. Greater chance of success 2. Reputation and customer loyalty 3. Experience and knowledge Disadvantages 1. Financial costs, initial fee, royalty payments 2. Loss of control/independence 、3. Dependent on the
13、success of the franchisor Charities 慈善非盈利组织A trust, company or incorporated association establishes for charitable purposes only. Features ? Non-for-profit organization ? Sometimes referred to as foundations. ? Generally enjoy tax exemptions & donors generally enjoy tax relief ? Normally subjected t
14、o some form of government supervision to: prevent charity fraud allow the government to influence the scope and agenda of charities Non-Governmental Organization (NGO) 非政府组织A private institution that is independent of the government. Characteristics: ? Usually use public relations to meet their goal
15、s. ? People working for NGOs are volunteers and paid staff. Paid staffs typically receive lower pay than in other sectors. ? Volunteers are not purely altruistic. They may have their individual interests such as skills, experience and contacts. ? Sources of funds include membership fees, sale of goo
16、ds and services, private donations and grants from international institutions or government. ? NGOs are not legal entities under international law (except the Red Cross). Private sector and public sector Private sector 私企1. Business or organization is owned by individuals or shareholders 2. Main obj
17、ective: make profit For the private sector, profit is a measure of success and a motivator for further investment. Public sector 央企国企Organizations in public sector are owned or funded by the Government. Public organization can be converted to a private organization, and such process is known as priv
18、atization. Public sector tends to be driven by the need to provide a service - perhaps at the lowest costs. Objectives of a public sector: ? less to achieve profit ? more to provide value-for-money services that meets the needs of communities 1.2 Growth and Evolution 组织变革与成长Why organizations grow ?
19、Increased sales and profits ? Greater market share ? Security and survival ? economy of scale( e.g. reduced average cost, shared resources) How organisations grow AHL Internal growth 内在成长Definition Expand scale of production to meet increased demand To expand the scale of production, a business migh
20、t hire more employees, invest in new larger machineries, expand its market distribution, etc. Example: McDonalds grows by expanding operations into new countries and increases its market share. Mergers, demergers, and take over (external growth) 外在成长：兼并，分拆，收购Acquisition or take over ? Buy over other
21、 companies Advantages: ? Immediate expansion, acquiring of skills and workforce overnight. Disadvantages: ? Costly ? May increase burden of the parent company Mergers Merger is a term used when two companies join to form one new company voluntarily (the difference with takeover is that takeover may
22、not be voluntary). Why companies merge? ? Make savings from being bigger ? Compete with larger corporations or eliminate competition ? Spread production over larger range of products ? Take advantage of economies of scale economies of scale Demergers A demerger is when a firm divides into two or mor
23、e firms or sells off some of its subsidiaries. It may be a way out of failed merger or overgrowth. Global conglomerates & Networks Global conglomerates A conglomerate is a large company that consists of seemingly unrelated business sections. Advantages: ? Allow capital to be allocated in a more effi
24、cient way ? Create synergies between companies Opportunity to grow in each unrelated market. Disadvantages: ? Lack of focus ? Inability to manage unrelated businesses equally well Networks Networks refer to arrangements between independent organizations to work together. There are generally 2 types
25、of networks: 1. with an organizational superstructure (example, become a member of the XXX network). In this type, members benefit from the marketing of the superstructure and its possibilities for referrals. 2. independently owned entities that offer services of another organization - e.g. affiliat
26、e radio or TV stations There can be arrangements in networks to literally function together. close to or is a strategic alliance The Star Alliance in the airline industry, for example, where five major airlines formed an alliance so that all five enjoyed the benefit of providing service to basically
27、 all major airports in the world without having, individually, to have flights, etc. to each functioning relationship closer to the connotation of the word network Small shipping companies, which often deliver globally but actually deliver in a limited geographic region and another company in the ne
28、twork delivers any shipments beyond the original shipping companys geographic territory. Networks can have either legal basis or exist merely as a matter or practice. Subsidiaries, joint ventures, multinational companies, and holding companies Subsidiaries 子公司A subsidiary is a company that is bought
29、 over or controlled by another company. The company that controls the subsidiary with 51% or more shares is called the parent company. When a company has several subsidiaries it is called a group. An important fact about subsidiaries is that they are a different legal entity than the parent company
30、which means it has different taxations and regulations, which can be used to benefit the parent company. Advantages: ? Spread risks - parent company is not liable for the subsidiary ? Losses of subsidiary do not affect the parent company (because of different legal entity) ? Widen territory or place
31、 of distribution - consumers always see the same company everywhere Disadvantages: ? Can be costly - other investments might be a better option ? More administrative work required to keep two or more companies on track Joint ventures 合资公司globalization背景下，joint venture有时候会用来和其他external growth方式如merge
32、r, take over比较优劣JV的主要优势在于内资一方更了解当地市场环境和客户需求，外资一方资本更充足技术更先进比merger和take over的财务和行政成本更低 有一年的考题就是靠的这个 which is noteworthA joint venture is when individuals, groups of individuals, corporations, limited companies or partnerships form a short term partnership, e.g. for one project, to carry out economic
33、activities collectively. The companies in the joint venture all supply equity and share the risks, profits and costs. Joint ventures are often used to enter foreign markets where the foreign company then forms a joint venture with a domestic company. This is beneficial for both because: ? the foreig
34、n company has the knowledge and technology ? the domestic company already has the customers and knows the market well Advantages: ? Sharing of risks ? Open doors to new technology and customers ? Gain competitive advantage - several companies work together ? Increasing market segment ? Combined rese
35、arch and development Disadvantages: ? It will not necessarily be successful ? Sharing of knowledge could be abused - only one company walks away with the benefits Multinational companies MNC跨国公司，其特点是全球化布局，经营，销售A multinational organization is a company that supplies or makes their product in at least
36、 two countries. Important features: ? Large size and huge capital - a lot of power, can influence economies and political relations between countries. ? Played an important role in globalization because - went to poor countries to produce their goods for cheap labor Examples of this are Google and H
37、SBC but there are many more. Advantages: ? Products are sold all over the world ? Possibility to work on revolutionizing ideas Disadvantages: Not all products can be sold everywhere in the world - different legislation, culture, etc. Holding companies 控股公司俗语说A公司是B公司的东家，为最大股东 A为holding companyA holdi
38、ng company is a company that owns another company. They need to have enough stock to be able to control the board of directors, which then means they can direct management and operations. They do this so they can operate the company the way in which they think it is best, and has higher profits. A h
39、olding is beneficial because it is like having another company but only with less liability and risk. Economies & diseconomies of scale AHL Economies of scale 规模经济效应企业越大，效率越高，单位成本越低Economies of scale refers to the benefit of size - advantages large businesses have compared to smaller businesses. The
40、y are: 1. Production ? o Buying in bulk - get discount ? o Division of labour - workers can specialise in areas of expertise ? o Use mass production techniques ? Lower fixed costs ? Larger and more efficient machinery 2. Marketing ? o Reduce cost per unit product of marketing - little change in mark
41、eting costs, substantial change in production ? o Afford more expensive advertising methods, e.g. television 3. Finance ? o Easier to attract finance ? o More financial security ? o Lenders often charge lower interest rates o Better access to stock market, accumulation of retained profit 4. Manageme
42、nt Diseconomies of scale 规模不经济效应企业也不是愈大越好 太大 机构臃肿 人员冗余 内部沟通不畅 运行效率降低Diseconomies of scale多数是管理问题导书上有个曲线 说明的就是企业应大而有度1. Problems in managing production ? o Leads to inefficiency ? o Raises costs of storage due to bulk purchase 2. Communications and decision-making ? o Slow decision-making ? o Slow to
43、 react to changes 3. Effects on employee ? o Poor morale ? o Company may be inflexible 1.3 Organizational Objectives 组织目标Nature, role, and importance of objectives Objectives are used to state the goals of the business, and also to assess the business performance. Good objectives should be SMART: ?
44、S: Specific ? M: Measurable ? A: Agreed ? R: Realistic T: Time-specific The role and importance of objectives are: ? Determine the role of the employees ? Determine the strategy to be done ? Provide shareholders with a clear idea of the business in which they have invested ? Provide a sense of direc
45、tion for the business ? Provide a basis for decision making ? As a measurement for achievement Hierarchy of objectives 目标的significance排序 从下到上依次递减这部分内容多出现在case study（案例分析）中 问的是mission statement/vision对公司operation的影响Terms and meanings: Term Meaning Mission Statement A statement of the business core ai
46、ms, phrased in a way to motivate employees and to stimulate interest by outside groups. Vision/Aim A statement of the general purpose of the business, usually not specific and mainly to attract stakeholders Objective A goal that an organization or individual wants to achieve. Strategic objectives Wh
47、at the organization wants to achieve in to remain competitive & ensure its long-term sustainability Example: To increase market share Tactics Short-term departmental objectives or strategies to obtain strategic objectives. Operational Objectives Low-level objectives which are addressed to individuals or small groups The hierarchy of objectives: Order Objectives Example 1 Aim To maximise shareholders value 2 Strategic obj