企业监管与利益相关者分析

CorporateGovernance&StakeholderAnalysisLearningObjectivesDefinewhatisCorporateGovernance&thegovernancechaininanorganisationUnderstanddifferencesingovernancestructuresandtheadvantagesanddisadvantagesofthese.UndertakestakeholderanalysisasameansofidentifyingtheinfluenceofdifferentstakeholdergroupsintermsoftheirpowerandinterestUndertakestakeholderanalysisasameansofidentifyingthe influenceofdifferentstakeholdergroupsintermsoftheir powerandinterest.

AViewofaComprehensiveStrategicAnalysis

ExternalAnalysisInternalAnalysisTheDeterminantofStrategy(outside-inapproachtostrategy)(inside-outapproachtostrategy)CorporateGovernance:ADefinitionCorporategovernanceisconcernedwiththestructuresandsystemsofcontrolbywhichmanagersareheldaccountabletothosewhohavealegitimatestakeinanorganisation.19/01/2025ThegovernancechainWhyisCorporateGovernanceImportant?ThegrowingimportanceofgovernanceCorporatefailuresandscandals(e.g.Enron)–focussingattentionongovernanceissues.Theseparationofownershipandmanagementcontrol–definingdifferentrolesingovernance.Increasedaccountability

towiderstakeholderinterestsandtheneedforcorporatesocialresponsibility(e.g.greenissues).Theprincipal-agentmodelGovernancecanbeseenintermsoftheprincipalagentmodelPrincipalspayagentstoactontheirbehalf(e.g.beneficiaries/trusteespayinvestmentmanagerstomanagefunds,BoardsofDirectorspayexecutivestorunacompany).Agentsmayactintheirownselfinterest.Issuesingovernance(1)Thekeychallengeistoaligntheinterestsofagentswiththoseoftheprincipals.Misalignmentofincentivesandcontrol–e.g.beneficiariesmayrequirelongtermgrowthbutexecutivesmaybeseekingshorttermprofit.

Responsibilitytowhom–shouldexecutivespursuesolelyshareholderaimsorserveawiderconstituencyofstakeholders?Issuesingovernance(2)Whoaretheshareholders–shouldboardsrespondtothedemandsofinstitutionalinvestmentmanagersortheneedsoftheultimatebeneficiaries?Theroleofinstitutionalinvestors–shouldtheyactivelyinterveneinstrategy?Establishingthespecificroleoftheboard–inparticulartheroleofnon-executivedirectors.Scrutinyandcontrol–statutoryrequirementsandvoluntarycodestoregulateboards.Whoarethestakeholders?Stakeholders

arethoseindividualsorgroupswhodependonanorganisationtofulfiltheirowngoalsandonwhom,inturn,theorganisationdepends.StakeholdersofalargeorganisationSource:AdaptedfromR.E.Freeman,StrategicManagement:AStakeholderApproach,Pitman,1984.Copyright1984byR.EdwardFreeman.Typicalstakeholders:Owners:wantingafinancialreturnEmployees:wantinghighsalariesandwagesCustomers:buyingqualitygoodsandservicesCreditors:assessingthecreditworthinessoftheorganisationSuppliers:wantingpaymentLocalcommunity:wantingsafetyandlocalcontributiontosocietyGovernment:needingcompliancewithlawandalsoacontributiontosocietyCopingwithstakeholderinterests/powerTypically,thereareconflictsofinterestbetweenstakeholdersStakeholdermappingStakeholdermappingidentifiesstakeholderexpectationsandpowerandhelpsinunderstandingpoliticalpriorities.19/01/2025AnalysingStakeholders:

StakeholderMapping

Stakeholdermappingidentifiesstakeholderexpectationsandpowerandhelpsinunderstandingpoliticalpriorities.Source:AdaptedfromA.Mendelow,ProceedingsoftheSecondInternationalConferenceonInformationSystems,Cambridge,MA,1986StakeholdermappingissuesDeterminingpurposeandstrategy–whoseexpectationsneedtobeprioritised?Dotheactuallevelsofinterestandpowerreflectthecorporategovernanceframework?Whoarethekeyblockersandfacilitatorsofstrategy?Isitdesirabletotrytorepositioncertainstakeholders?Canthelevelofinterestorpowerofkeystakeholdersbemaintained?Willstakeholderpositionsshiftaccordingtotheissue/strategybeingconsidered.Summary(1)Thepurposeofanorganisationwillbeinfluencedbytheexpectationsofitsstakeholders.TheinfluenceofsomekeystakeholdersisrepresentedformallywithinthegovernancestructureofanorganisationThiscanberepresentedintermsofagovernancechain,showingthelinksbetweenultimatebeneficiariesandthemanagersofanorganisation.Summary2Differ