Premium Essay

Manager Stakeholder Conflict

In: Business and Management

Submitted By aky122
Words 261
Pages 2
Chen, S., Sun, Z. and Wang, Y., 2002. Evidence from China on whether harmonised accounting standards harmonise accounting practices. Accounting Horizons, 16(3), pp.183-197.
Colasse, Bernard, and Noal Mellott. "The international standardization of accounting: the resistible rise of the IASC/IASB." In Annales des Mines-Gérer et comprendre, no. 2, pp. 15-24. ESKA, 2010.
European Commission. 1995. Communication from the Commission, Accounting Harmonisation: A New Strategy Vis-à-vis International Harmonisation. Com, 95, p.508.
Guggiola, G., 2010. IFRS adoption in the EU, accounting harmonisation and markets efficiency: A review1. The International Business & Economics Research Journal, 9(12), p.99.
Hoogervorst, H. 2015. Ten years on, what have we learned? IASB Speech.
Pacter, P. (2014) Global Standards: How Close Are We? Retrieved from http://www.ifrs.org/
Roberts, C.B., Weetman, P. and Gordon, P., 2005. International financial reporting: a comparative approach. Pearson Education.
Schaub, A., 2005. Use of International Accounting Standards in the European Union, The. Nw. J. Int'l L. & Bus., 25, p.609.
Tran, L. 2012. The Role of the FASB and the IASB in Establishing Fair Value Measurements. Fair Value Valuation Insights. Winter 2012.
Whittington, G., 2008. Fair value and the IASB/FASB conceptual framework project: an alternative view. Abacus, 44(2), pp.139-168.
Wong, P., 2004. Challenges and successes in implementing international standards: achieving convergence to IFRSs and ISAs. New York: IFAC.
Zeff, S.A., 2007. Some obstacles to global financial reporting comparability and convergence at a high level of quality. The British Accounting Review, 39(4),…...

Similar Documents

Premium Essay

Stakeholder

...Part one A stakeholder is any individual or group who can affect or is affected by the actions, decisions, policies, practices, or goals of the organisation (Freeman 1984, 25). They have the interests in the activities of an organization and can be divided into internal and external stakeholders. In addition, there are different levels of stakeholders: primary and secondary. The level of stakeholders depends on the political, economic and social environment. Internal stakeholders are those from within the business, e.g. managers, employees and shareholders. In the Icelandic banks, the internal stakeholders are managers, staff and employees of the Icelandic bank, and there is no doubt that the owners are the most important stakeholders among all of them. The staff and employees get the paid from company directly and do service for them, that is why they are the internal stakeholders. The external stakeholders are such as suppliers, government, financiers which influence and are influenced by organization but are not its ‘internal part’ (business dictionary). The primary stakeholders are 300,000 British citizens and Icesave housing customers like David Pedrick and his wife, even though they just has a little interest in it,domestic creditors are also a part of external stakeholders. The secondary stakeholders are governments, the media, the pressure groups Liberty and the communities where organizations are nearby or located like Kaupthing Singer& Friendlander which is the......

Words: 893 - Pages: 4

Free Essay

Critical Review of "Culture and Conflict: Japanese Managers and Thai Subordinates"

...this cross-cultural context; the Japanese management system applied in Thailand is mismanaged. In the article Culture and Conflict: Japanese managers and Thai subordinates, Fredric William and Jun Onishi did their research based on the cultural dimensions of Hofstede’s conceptual framework, it conducted a study on possible conflicts between Japanese and Thai subordinates when they have different perceptions. The research provided evidences that the expectation of Japanese managers and Thai subordinates adapting in a different cultural context are reversed according to three aspects which are culture characteristics based on Hofstede, Japanese HRM system, and unique Japanese social and business practices. The authors collected data from ten Japanese manufactures to research and find the differences in real situation. From the culture dimensions, we can see the differences as follow: 1) Thai subordinates have higher power distance, they believe that company should have clear hierarchy. 2) Thai are less individualistic, they prefer to receive instructions than come with own ideas. 3) Japanese have higher masculinity, they always work voluntarily on weekends. 4) For the uncertainty avoidance, Japanese managers prefer specific company rules but Thai subordinates prefer flexibility. 5) Thai subordinates do not like long-term work plans which the Japanese managers set for them. The Japanese HRM systems work ineffectively in Thailand according to the Thai subordinates'......

Words: 658 - Pages: 3

Free Essay

Conflict of Interest Between Managers and Shareholders

...Corporate managers and shareholders can sometimes find themselves in a conflict of interest. The goal of being a good manager is being able to spot these potential conflicts and to remedy the situation before a serious problem arises. The biggest conflict between managers and shareholders is going to be money. Here is the most common scenario. A corporation is profitable. In fact, the corporation is more profitable than expected. Therefore, the corporation has a cash surplus, if you will. Managers would want this money as a financial bonus and the shareholders would want this money as a stock dividend. What to do? What to do? Mangers will argue that without their leadership and managerial ability, the corporation would not have been as profitable. The shareholders will argue that without their money, the corporation would not have been able to invest in its growth, and therefore, would not have reached that level of prosperity. Who should get the money? Another situation arises when the managers are also shareholders. This may lead a particular manager to push the opposite way of his/her position. For example, if a shareholder manager would get more money from a stock dividend than from a bonus, this shareholder manager might vote in favor of a stock dividend, not because he/she believes that stockholders should be rewarded for their investment, but because it will mean more money for that particular manager. What if only that one manger is a stock holder? Before...

Words: 406 - Pages: 2

Premium Essay

Manager

...recently? 3 Literature Review: 4 Agency Theory: 5 STAKEHOLDER THEORY 7 Stewardship theory: 10 Motivation: 10 Identification: 10 Policies: 10 Consequences: 11 Theory- Resource Dependence: 11 Principles: 12 Benefits of Corporate Governance: 13 Definition of 'Agency Problem': 14 Investopedia explains 'Agency Problem': 14 Agency Relationship and Agency Costs: 14 Conclusion: 23 Agency Problems Are Mitigated by Good Systems of Corporate Governance 23 Legal and Regulatory Requirements: 23 Compensation Plans: 24 Board of Directors: 24 Monitoring: 25 Takeovers: 25 Shareholder Pressure: 25 OECD Definition of Corporate Governance: "OECD defines corporate governance as follows: “Procedures and processes according to which an organisation is directed and controlled. The corporate governance structure specifies the distribution of rights and responsibilities among the different participants in the organisation – such as the board, managers, shareholders and other stakeholders – and lays down the rules and procedures for decision-making."  Financial Times Definition of Corporate Governance: "How a company is managed in terms of the institutional systems and protocols meant to ensure accountability and sound ethics. The concept encompasses a variety of issues, including the disclosure of information to shareholders and board members, the remuneration of senior executives, potential conflicts of interest among managers and directors, supervisory structures,......

Words: 8078 - Pages: 33

Premium Essay

Stakeholders

...Identifying and Managing Stakeholders Successful implementation of any organizations project depends mainly on involving the support of the stakeholders. Stakeholders are individuals (customer, patient, sponsors, vendors, and employees) or organizations that have a vested interest in the success of the business (Corporation for National and Community Service, n.d.). Without stakeholders support IT projects can run into many problems that can result in failure (eHealth Initiative (EHI), n.d.). When stakeholders are allowed to have input from the project start, then the project can be implemented more efficiently (EHI, n.d.). There are many different stakeholders with unique role that ensure the organizations project success (Wager, Lee, & Glaser, 2010). Stakeholders Before the initiation of any project, it is critical to identify those individual that will be most impacted by the project (Corporation for National and Community Service, n.d.). There are many stakeholders within a health care organization that must work towards one shared goal (Abbot, 2013). Key stakeholders in a health organization are consumers/patients, providers, clinical managers and senior leadership just to name a few (HRSA, n.d.). It is also important for each stakeholder to know their roles and responsibilities, how the system will affect them, and the benefit offered (HRSA, n.d.). Stakeholders Roles and Responsibilities The key stakeholders in a health care organizations information......

Words: 910 - Pages: 4

Premium Essay

A Sino-U.S. Comparison of Work-Family Conflict and Its Implications to American Managers

...A Sino-U.S. Comparison of Work-Family Conflict and Its Implications to American Managers A SINO-U.S. COMPARISON OF WORK-FAMILY CONFLICT 2 Abstract In this qualitative study, work-family conflict in China and the United States is compared and contrasted based on national culture, traditions, norms, and living standards. The analysis results in a proposition that Chinese employees will experience less work-family conflict when faced with the same work and family demand as their American counterparts, because of differences in their work and family priority, perception of work-family relationship, national culture, conflict handling style, social support, work-family communication, and economic pressure. The implications to American managers are discussed. A SINO-U.S. COMPARISON OF WORK-FAMILY CONFLICT 3 A Sino-U.S. Comparison of Work-Family Conflict and Its Implications to American Managers Work-family conflict has been a concern of many researchers (Carlson & Kacmar, 2000; Greenhaus & Beutell, 1985). Studies showed that work-family conflict had negative impact on employees, their families, and organizations (Beutell & Witting-Berman, 1999; Burke, 1988; Frone & Cooper, 1992; Goff, Mount, & Jamison, 1990; Martins, Eddleston, & Veiga, 2002). Recent changes in demographic characteristics of the U.S. work force have resulted in greater work-family conflict. Examples of these demographic changes include the...

Words: 4638 - Pages: 19

Free Essay

Stakeholder

...Stakeholders are people or groups of people who can be affected by, and therefore have an interest in, any action by an organization. The stakeholder concept is the view that businesses and their managers have responsibilities to a wide range of groups, not just shareholders. There are two different kinds of stakeholders; Internal & External Internal Stakeholders -These stakeholders are members of the organization: Employees Shareholders (who own the business) Managers and directors of a business External Stakeholders - These stakeholders do NOT form part of the organization but have a direct interest or involvement in the actions of the organization: Customers Suppliers Government Competitors Special interest groups Business decisions can have both negative and positive effects on stakeholders, but it is rare for all stakeholders to be either positively or negatively affected by any one-business activity. It is also possible for any one-stakeholder group to experience both negative and positive effects from the same business decision. This is why conflicts of interest between stakeholder groups with different objectives can arise. Unilever is the world's third largest consumer goods company. Its key stakeholders include: Customers Employees Suppliers Investors Government regulators Local communities Civil society organizations Academics and individual concerned citizens With some, such as our customers, employees, suppliers and......

Words: 316 - Pages: 2

Premium Essay

Stakeholder Analysis

...fun. Therefore, a large company like LG Electronics can have a great impact on the society and has many stakeholders. The internal ones include directors/managers, employees and shareholders. Suppliers, customers, NGO/ International organizations, community and local government are external stakeholders. Directors/managers Directors and managers are the ones that run the business. They aim to maximize their own benefits, such as higher salary and annual bonus. Thus, they try their best to improve the corporate values. Shareholders By the end of 2012, the number of shareholders of LG Electronics was 201,161. Shareholders are powerful stakeholders because they invest their money into the business. As the owners of the business, they aim to maximize the profit. They are hoping for a disclosure of transparent management information as well as more dividends. It is stated in the mission statement that the company wants to deliver innovative products. Without re-investing profit into the business, new products may not be invented. However, shareholders tend to share the profit immediately, which conflicts with the mission statement. LG Electronics communicate with the shareholders through different ways, including holding a general shareholders’ meeting, having a performance presentation and publishing a business report. Employees Another important internal stakeholder group is employees. As of December 31, 2012, LG Electronics has 86,697 employees in total, with 36,378......

Words: 601 - Pages: 3

Premium Essay

Stakeholder

...Cross-Cutting Tool Stakeholder Analysis October 2005 Resources for Implementing the WWF Standards Contents What Is Stakeholder Analysis?............................................................................................ 1 Why Stakeholder Analysis Is Important ............................................................................. 1 When to Use Stakeholder Analysis ..................................................................................... 1 How to Develop and Use Stakeholder Analysis................................................................. 2 1. Identifying the key stakeholders and their interests (positive or negative) in the project ..........2 2. Assessing the influence and importance of each stakeholder as well as the potential impact of the project upon each stakeholder .................................................................................................4 3. Identifying how best to engage stakeholders ...........................................................................4 General Lessons............................................................................................................................5 References............................................................................................................................. 6 This document is intended as a resource to support the implementation of the WWF Standards of Conservation Project and Programme Management. Stakeholder analysis......

Words: 2479 - Pages: 10

Premium Essay

The Stakeholders

...TASK 2 Stakeholders To comprehend who your organization's stakeholders are, partition individuals influenced by your organization into three gatherings: inward, outside and joined stakeholders. Inward stakeholders are the individuals who own or work at the organization, including accomplices, board parts and workers. Outer stakeholders are those influenced by the execution of a business, including the nearby city government, group occupants, not-for-profits a business backer or gives to and the exchange media. Associated stakeholders incorporate shareholders, merchants, suppliers, retailers, foremen, clients, wholesalers, deals reps and wholesalers. Internal Stakeholders The execution of a business straightforwardly influences the wallets of inside stakeholders, and administration must consider the budgetary impacts of its exercises on this gathering. Poor choices harm benefit, which decreases a holder's advantage, workers' chances for raises, rewards and expanded assets, board parts' risk and accomplices' workloads. A manager must consider the response of his staff before he expands working hours, passes the work of an ended representative onto remaining staff, lessens profits, finishes working from home or takes different activities that change his staff's circumstance. Board parts give administration expansive objectives and systems and oblige the organization's authority to run key choices by them, including those concerning money related objectives, brand......

Words: 1921 - Pages: 8

Free Essay

Stakeholders

...Stakeholders Introduction In this assignment I will be talking about two different businesses, Holly Lodge Girls’ College and McDonalds, and stakeholders involved with them and how they influence the businesses. Holly Lodge provides education to its customers, and some of their aims and objectives are being committed to academic progress and supporting students to the best they can be, and prepare them to be responsible citizens with a shared set of values and sense of community as well as compassion and responsibility etc. For McDonald’s they have many aims and objectives such as they’re committed to providing quality food quickly that their customers can trust with the best possible service, showing clear career paths to their employees that they can take, and helping out with the community and environment by litter picking for example. Stakeholders Stakeholders are an individual or group which is affected by a business, and has an interest in its success or failure and can be either an internal stakeholders i.e. employees, suppliers, managers; or external stakeholders i.e. customers, local community, trade unions. Customers Holly Lodge’s customers consist of its students and their parents. They both want good teachers and teaching environments otherwise they’re less likely to learn, with this they want the best grades possible so they can go on and get a good job and support themselves. Parents are also more likely to want the school to aid in teaching their......

Words: 2552 - Pages: 11

Free Essay

The Role of Capital in Resolving Agency Conflicts Between Different Groups of Bank Stakeholders.

...The role of capital in resolving agency conflicts between different groups of bank stakeholders. 1. Introduction This essay discusses the role of capital in resolving agency conflicts between different groups of bank stakeholders, by discussing two papers. The first paper is a descriptive paper written by Berger, Herring, and Szego (2005), called “The Role of Capital in Financial Institutions”. The second paper, “Caught in Between Scylla and Charybdis? Regulating Bank Leverage When There Is Rent Seeking and Risk Shifting”, is a theoretical paper by Acharya, Mehran and Thakor (2013). Both articles examine agency conflicts between different bank stakeholders and how capital could be used to reduce these conflicts. The rest is the paper is structured as follows. Chapter 2 discusses the paper of Berger et al., starting with the question why markets require financial institutions to hold capital, and why financial institutions differ from other companies. Next, we discuss why regulators require capital and why the market is not self-regulating, followed by the unintended consequences of regulation. Chapter 3 discusses the paper of Acharya et al., which starts by discussing two important moral hazard problems. Next, the base model is examined, followed by the extended model. Finally, we conclude by summarizing our findings and discuss the validity of both papers. 2. The role of capital in financial institutions The theoretical paper of Berger, Herring and Szegö (1995),......

Words: 5370 - Pages: 22

Free Essay

Stakeholder

...in the market. The client manager did not have an idea about it and so my delivery manager was not favouring this idea. I created a proof of concept and showcased how efficiently this can be done, but my manager did not accept it since it was a third-party tool. He insisted on creating an in-house tool for dashboard creation. Due to lack of support from my delivery manager, we had to drop that idea that could have significantly saved time and money for the client. Stakeholders Client organization, client manager, our organization, employees from client-side and company side working on this project, Dashboard-tool organization. Analysis The implementation of the solution using a third-party software was straight forward and the manager did not want to provide them an out-of-the-box solution. Rather than that, he wanted to create more opportunities by increasing the number of projects. While I understood his good intentions towards better profitability for the company, it also created immense pressure in the members of the project due to this unplanned addition. We did not have enough bandwidth to cover this new work along with the hectic schedule in hand already. Conflict While this project could have saved time and money for both parties, my manager insisted on creating the tool for the long-run. This can later on be converted into a customizable product that could be used within the company for similar requirements. I tried to convince my manager that there are already......

Words: 1754 - Pages: 8

Premium Essay

Stakeholders

...Stakeholders are people who have an interest in a business organisation. Stakeholders can be seen as being internal or external to the organisation and some may fall into both catogries. Internal stakeholders are people who work directly within a business such as owners, shareholders, managers, and employees. External stakeholders are people who do not directly work within a business but are affected by the decisions of the business such as customers, suppliers, banks or lenders, the community, and the government. Stakeholders have an interest in the business's success or failure and also influences it. In Joy of Chocolate, the owner, Suzy Campbell, will have an interest in how much profit the business makes. She can influence the business by making decisions such as where to target the market to make the most sales which in this case would be luxury restaurants and hotels. Managers have an interest in job satisfaction and receiving high status. Managers influence the business by implementing the business policies within the workplace and reaching strategies which affects the operation and profitability of the business. Employees have an interest in receiving salaries and job security. Employees influence a business by working hard to maximise their productivity and efficiency in tasks they carry out. They can also take industrial action such as strike against the business if they are unhappy with their working conditions. Customers have an interest in the business producing......

Words: 426 - Pages: 2

Free Essay

Stakeholder

...Stakeholders, Shareholders and Wealth Maximization V. Sivarama Krishnan, University of Central Oklahoma ABSTRACT This paper attempts reconciliation between the two somewhat extreme views espoused by the shareholder wealth maximization paradigm and the stakeholder theory. The stakeholder theory challenges the basic premise built into corporate finance theory, teaching and practice. Corporate finance theory, teaching and the typically recommended practice are all built on the premise that the primary goal of a corporation should be shareholder wealth value maximization. Extant theoretical and empirical research in financial economics also generally accept shareholder wealth maximization as the normative and ideal goal on which all business decisions should be based. This paradigm assumes that there are no externalities and all the participants engaged in transactions with the firm are voluntary players competing in free, fair and competitive markets. A very different view is offered by what is loosely called stakeholder theory. The stakeholder theory posits that the focus on shareholders and firm value is misplaced and managers should be concerned with all stakeholders of the firm. The paper attempts to address what is felt as a lack of dialogue between the two camps. INTRODUCTION Corporate finance theory, teaching and the typically recommended practice at least in the US are all built on the premise that the primary goal of a corporation should be the......

Words: 4065 - Pages: 17