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Referat Engleza: Nume: Finanţe Bănci Tg. Mureș Anul: II

This document discusses different business ownership models and concepts of corporate governance. It compares the shareholder and stakeholder models of governance. The shareholder model prioritizes maximizing returns for shareholders, while the stakeholder model considers the interests of all groups affected by the business. Both aim to balance powers and address issues like accountability. The document also discusses concepts like sole proprietorships, partnerships, corporations and professionalism in business.

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0% found this document useful (0 votes)
62 views

Referat Engleza: Nume: Finanţe Bănci Tg. Mureș Anul: II

This document discusses different business ownership models and concepts of corporate governance. It compares the shareholder and stakeholder models of governance. The shareholder model prioritizes maximizing returns for shareholders, while the stakeholder model considers the interests of all groups affected by the business. Both aim to balance powers and address issues like accountability. The document also discusses concepts like sole proprietorships, partnerships, corporations and professionalism in business.

Uploaded by

casile85
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOC, PDF, TXT or read online on Scribd
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Universitatea Lucian Blaga din Sibiu Economice

Facultatea de tiine

Referat Engleza
Nume: Finane Bnci Tg !ure" #nul: $$

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Universitatea Lucian Blaga din Sibiu Economice

Facultatea de tiine

Presentation
My name is Trua (Vlcan) Corina, I am 30 years old, from Romania. I am a student at the Uni ersity !inance "an#s Tar$u Mures year % are married ha e a $irl) I must say a lot a&out me. I am a hi$h thin 'oman 'ith &ro'n eyes 'ear stylish clothes. I $raduated a&out my moral (ualities must say that I am o)timistic and friendly character. I ha e a lot of friends &ecause I am soci&le

Business and businesses


"usiness is a lon$ term, hi$hly re)etitious acti ity, fre(uently re(uirin$ )eo)le to do the same thin$ today, tomorro', the ne*t day. Many of today+s 'ell #no'n &usinesses 'ere started &y one or t'o )eo)le and the o'nershi) of those &usinesses 'as ery sim)le. lt 'as durin$ the l,th century that &usinesses 'anted to e*)and and increase the num&er of o'ners. To do this they needed to sell shares. To cncoura$c )eo)le to &uy shares, $o ernments around the 'orld )assed la's 'hich $a e )eo)le limited lia&ility. -urin$ the %oth century many )eo)le &ou$ht shares in sucessful &usinesses for the follo'in$ reasons. to ha e a share in the )rofit made &y the &usiness, the ho)e that a )ro/ta&le &usiness 'ould attract more and more )eo)le to &uy shares and this 'ill ma#e the )rice rise so that shares could &e sold at a )rofit. The sim)lest t+orm of &usiness o'nershi) is the sole trader.0ere, one )erson o'ns the &usiness, ta#es all the decisions and ris#s his o'n money. 1eo)le en2oy to &e self em)loyed and they are ha))y to ha e com)lete control of their o'n &usiness. "ut there is no one to share the res)onsi&ilities in ol ed in decision ma#in$ and raisin$ /nance is a )ro&lem. 3ole traders finance their &usiness throu$h a &an# loan and the &an# 'ill char$e a hi$h rate of interest. 4 &an# 'ill ensure that it can $et the money &ac#, if the loan is not re)aid, &y re(uirin$ security on the loan. 3ole traders are lia&le for any de&ts they ha e, e en if they are not the trader s fault. 4 trader may do a 2o& for5 a lar$er &usiness6 it may &e 'orth %0 7778 &ut it 'ill not &c )aid until the2o& is com)lete. The sole trader must s)end ,000 8 on e(ui)ment, &ut 'hen the 2o& is com)lete the lar$er &usiness closes do'n and the %0 7778 are not )aid6 still, the sole trader has to co er the ,000 already s)ent as he has unlimited lia&ility. 3ometimes, a )air of a small $rou) of )eo)le 'ill $et to$ether to run a &usiness. This is called a )artnershi). 1artnershi)s face unlimited lia&ility as sole traders do.

Universitatea Lucian Blaga din Sibiu Facultatea de tiine Economice 1artners may )ut some money into the )artnershi) in return for a share of the )ro/ts &ut ta#e no )art in the runnin$ of the )artnershi), do not 'or# for it and ha e 9no say: in any decisionsUnder these circumstances, it is only the money that has &een in ested that is lia&le to &e used in order to )ay off any de&ts. This is a silent )artner and he has only limited lia&ility. The technical name for &oth )ri ate and )u&lic limited com)anies is 2oint stoc# com)any. It means that the stoc# in a com)any is o'ned 2ointly &y se eral )eo)le. 3ome &usiness acti ity is carried on &y the $o ernment and thisforms the )u&lic sector. 1rofit ma*imisation may not &e the only aim of a &usines6 in )u&lic com)anies there is a se)aration of o'nershi) and control, so that dircctors and mana$ers may run a com)any in their o'n interests. "usiness is the )roduetiom&uyin$, and sellin$ of $oods and ser ices. 4 &usiness, com)any or firm is an or$ani;ation that sells $oods or ser ices. 4 &usiness may &e referred to formally as a concem. Then, it may &e referred to a))ro in$ly as an enter)rise in order to em)hasi;e its ad enturous, ris# ta#in$ (ualities and &usiness in $eneral may &e referred to in the same 'ay, in eom&inations such as f+ree enter)rise and )ri ate enter)rise. 4 &usiness re(uires tremendous effort to $et it $oin$ and once $oin$, it re(uires minimum effort to #ee) it $oin$. The role of &usiness is to stay in &usiness, )ro idin$ 'a$es, $oods and ser ices into the community and meetin$ the )rofit needs of the &usiness and the #ey sta#eholders in the &usiness. The source of fundin$ and ca)ital is considered to &e the main difference &et'een the sta#eholders and the shareholders. ln the sta#eholder model, fundin$ is &ein$ su))lied throu$h &an# loans. This means that they 'ill as# for mana$erial consideration and res)onse from those runnin$ the com)any. In the shareholder model, stoc#holders ad ance ca)ital to mana$ers 'ho act as their a$ents in )re<authori;ed 'ays. 3hareholdes &uy shares to ma*imise the return on their in estment6 the res)onsi&ility of the mana$er in a firm is to en$a$e in acti ities desi$ned to increase the )rofits, that is to en$a$e in o)en and free Com)etition. To create shareholder 'ealth, the mana$ement needs to out)erform the e*)ectations shareholders had 'hen they made their in estment decisions. In the shareholder model of cor)orate $o ernanee, the focus is on institutional a$ents monitorin$ cor)orate a$ents in order to enhance the in estment )ros)ects of in estors.

Universitatea Lucian Blaga din Sibiu Facultatea de tiine Economice In the sta#eholder model, the )remise is that a com)any is more li#ely to )erform 'ell and the shareholders are more li#ely to &enefit, if o))ortunities are created for the arious $rou)s holdin$ an interest in the com)any to enter into &indin$ relationshi). The cm)hasis in the sta#eholder model is the 'ay enter)rises are $o erned 'hile in shareholder model the em)hasis is on the 'ay enter)rises are mana$ed. The shareholder &ased entity is more res)onsi e to chan$es in mar#et conditions. "oth a))roaches ta#e account of the issues of &oard chec#s and &alances, a&use of authority and )o'er, the role of &oards, director re'ards and )artici)ation in settin$ standards for accountin$, safety, em)loyec relations and ris# mana$ement. In today=s &usiness 'orld 'e ha e to ta#e into consideration the t'o models. The shareholder model encoura$es a to) do'n, command and control leadershi) a))roach 'hereas in the sta#eholder model a team &ased, shared decision ma#in$, ser ant leadershi) a))roach is more li#ely. 3ta#eholder &ased $o ernance refers to ho' the or$ani;ation ma#es cost effecti e decisions in terms of 'ealth creation &ut 'ith consideration of sta#cholders: ri$hts. Cor)orations ha e multi)le res)onsi&ilities and need to &alance com)etin$ conditions, such as lon$ and short term notion of $ain, )rotit and sustaina&ility, cash and accountin$ conce)ts of alue, democracy and authority, )o'er and accounta&ility. This model is more common in continental >uro)e and ?a)an. The micro a))roach to cor)orate $o ernanee refers to shareholders. This is concerned 'ith ma*imi;in$ 'ealth creation for shareholders. Control is lin#ed here to )roiita&ility, an 4n$lo 4merican model. Then &usiness may &e referred to as commerce, commercial distin$uishin$ the &usiness s)here from other areas such as $o ernment or arts or from non money ma#in$ acti ities. The social role of any &usiness is lin#ed to 'hat 'e call as ser in$ the future. suf/cient )rofrts to satisfy the &usiness and the sta#eholders meet today+s )ro/ts needs. "ut as the e*)ectations increase society has to in est in ideas and technolo$y that e*)ands the economic &ase and the 'ealth of the society. 4n essential re(uirement is that each and e ery &usiness stri es to achie e )ro/ts o er and a&o e immediate &usiness needs and the sta#eholders: needs. @ithout this 9sur)lus )rofit: there can &e no cnture ca)ital. @ithout enture ca)ital, economic $ro'th 'ill stru$$le to match )o)ulation. $ro'th and the $ro'th in social e*)ectations. 4ny &usiness re(uires true )rofessionalism< the coura$e to care a&out )eo)le, clients, career.

Universitatea Lucian Blaga din Sibiu Facultatea de tiine Economice True )rofessionalism means the )ursuit of c*cellcnce. lf you alue somethin$, then you must monitor your )erformance in that area, acc)t nothin$ less than e*cellence and acti ely 'or# to learn 'hat to do differently e ery time you fall short of e*cellence. !irms must )ro ide hel) and counsel to those 'ho are encounterin$ dif/culties in li in$ uo to their standards, in order to hel) them $et &ac# on trac#. 7nce )rofessionals ha e con/rmed their core alues, they need to desi$n systems 'hich )ro ide conse(uences for noncom)liance. "y lea in$ each indi idual )rofessional to decide for himself'hat le el to achie e in #ey alue areas, tirms say that the com)any as a society has no standards that must &e adhered to. >*cellence in such areas &ecome a matter of )ersonal )rofessional choice. 1rofessionals must li e &y the slo$an 9 you are allo'ed to fail, you are not allo'ed to $i e u) tryin$. The o)osite of the 'ord )rofessional is not un)rofcssional, &ut rather technieian. These may &e hi$hly s#illed, &ut they aren+t )rofessionals until they demonstrate characteristics such as;ta#in$ )ride in their 'or#, sho'in$ a )ersonal commitment to (uality, reaehin$ out for res)onsi&ility$ettin$ in ol ed, loo#in$ for 'ays to ma#e thin$s easier for those they ser e, listenin$ to the needs of those they ser e, &ein$ team )layers, lionest, tiust'orthy, loyal, o)en to constructi e criti(ues. 1rofessionalism is an attitude not a set of com)etenccs. 4 true )rofessional is a technieian 'ho eares. 4nd if lindin$ )eo)le 'ith technical s#ill is usually easy, findin$ )eo)le 'ho are filled 'ith ener$y, dri e, enthusiasni )ersonal commitment to e*cellence is hard. "ecause real )rofessionalism has little to do 'ith @hich &usiness you are in, 'hat role 'ithin that &usiness you )erform, ho' many de$rees you ha e. lt im)lics a )ride in 'or#, a commitment to (uality, a dedieation to the interests of the client, a sincere desire to hel). Traditional definitions of )rofessionalisin are filled 'ith references to status, educational attainments, no&le callin$. Ao', 'e refer to attitude and character. 3o, tnns should hire )eo)le for attitude and train foi5 s#i ll. "ein$ a )rofessional as#s for treatin$ )eo)le as )rofessionals that is in est in them. Then )rofessional success re(uires more than talent, it as#s for initiati e, in ol ement, enthusiasm, commitment. "ein$ $ood at &usiness de elo)ment in ol es nothin$ more than a sincere interest in clients and their )ro&lems and a 'illin$ness to $o out and s)end the time &ein$ hel)/il to tlicin. 3uccess iri &usiness life means not only $ood )rofessionalism &ut effecti e functionin$ of the firms, )ositi e outloo#.

Universitatea Lucian Blaga din Sibiu Economice

Facultatea de tiine

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