Script

{\rtf1 \ansi \ansicpg1252 \deff0 \stshfdbch2 \stshfloch0 \stshfhich0
\deflang1033 \deflangfe1033 {\fonttbl {\f0 \froman \fcharset0 \fprq2 {\*\panose

02020603050405020304}Times New Roman{\*\falt Times New Roman};}{\f2 \fnil
\fcharset134 \fprq0 {\*\panose 02010600030101010101}SimSun{\*\falt SimSun};}{\f3
\fnil \fcharset2 \fprq0 {\*\panose 05000000000000000000}Wingdings{\*\falt
Wingdings};}{\f4 \fswiss \fcharset0 \fprq0 {\*\panose
020f0502020204030204}Calibri{\*\falt Calibri};}{\f5 \fnil \fcharset0 \fprq0
{\*\panose 00000000000000000000}AdvOT1ef757c0{\*\falt Segoe Print};}{\f6 \fnil
\fcharset0 \fprq0 {\*\panose 00000000000000000000}AdvOT1ef757c0 + 20{\*\falt Segoe
Print};}{\f7 \fnil \fcharset0 \fprq0 {\*\panose
00000000000000000000}AdvOT7d6df7ab . I{\*\falt Segoe Print};}}
{\colortbl;\red0\green0\blue0;\red128\green0\blue0;\red255\green0\blue0;\red0\green
128\blue0;\red128\green128\blue0;\red0\green255\blue0;\red255\green255\blue0;\red33
\green24\blue8;\red0\green0\blue128;\red128\green0\blue128;\red0\green128\blue128;\
red128\green128\blue128;\red192\green192\blue192;\red0\green0\blue255;\red255\green
0\blue255;\red0\green255\blue255;\red255\green255\blue255;}{\stylesheet {\qj
\li0 \ri0 \widctlpar \aspalpha \aspnum \adjustright \lin0 \rin0 \itap0 \fs21
\kerning2 \rtlch \ltrch \dbch \af2 \hich \af0 \loch \f0 \snext0 \spriority0
Normal;}{\*\cs10 \rtlch \ltrch \snext10 \sunhideused \spriority99 Default Paragraph
Font;}}{\*\latentstyles \lsdstimax260 \lsdlockeddef0 \lsdsemihiddendef1
\lsdunhideuseddef1 \lsdqformatdef0 \lsdprioritydef99 {\lsdlockedexcept
\lsdsemihidden0 \lsdunhideused0 \lsdpriority0 \lsdlocked0 Normal;\lsdpriority99
\lsdlocked0 heading 1;\lsdpriority99 \lsdlocked0 heading 2;\lsdpriority99
\lsdlocked0 heading 9;\lsdpriority99 \lsdlocked0 index 1;\lsdpriority99 \lsdlocked0
index 2;\lsdpriority99 \lsdlocked0 index 3;\lsdpriority99 \lsdlocked0 index
4;\lsdpriority99 \lsdlocked0 index 5;\lsdpriority99 \lsdlocked0 index
6;\lsdpriority99 \lsdlocked0 index 7;\lsdpriority99 \lsdlocked0 index
8;\lsdpriority99 \lsdlocked0 index 9;\lsdpriority99 \lsdlocked0 toc
1;\lsdpriority99 \lsdlocked0 toc 2;\lsdpriority99 \lsdlocked0 toc
9;\lsdpriority99 \lsdlocked0 Normal Indent;\lsdpriority99 \lsdlocked0 footnote
text;\lsdpriority99 \lsdlocked0 annotation text;\lsdpriority99 \lsdlocked0
header;\lsdpriority99 \lsdlocked0 footer;\lsdpriority99 \lsdlocked0 index
heading;\lsdpriority99 \lsdlocked0 caption;\lsdpriority99 \lsdlocked0 table of
figures;\lsdpriority99 \lsdlocked0 envelope address;\lsdpriority99 \lsdlocked0
envelope return;\lsdpriority99 \lsdlocked0 footnote reference;\lsdpriority99
\lsdlocked0 annotation reference;\lsdpriority99 \lsdlocked0 line
number;\lsdpriority99 \lsdlocked0 page number;\lsdpriority99 \lsdlocked0 endnote
reference;\lsdpriority99 \lsdlocked0 endnote text;\lsdpriority99 \lsdlocked0 table
of authorities;\lsdpriority99 \lsdlocked0 macro;\lsdpriority99 \lsdlocked0 toa
heading;\lsdpriority99 \lsdlocked0 List;\lsdpriority99 \lsdlocked0 List
Bullet;\lsdpriority99 \lsdlocked0 List Number;\lsdpriority99 \lsdlocked0 List
2;\lsdpriority99 \lsdlocked0 List 3;\lsdpriority99 \lsdlocked0 List
4;\lsdpriority99 \lsdlocked0 List 5;\lsdpriority99 \lsdlocked0 List Bullet
2;\lsdpriority99 \lsdlocked0 List Bullet 3;\lsdpriority99 \lsdlocked0 List Bullet
4;\lsdpriority99 \lsdlocked0 List Bullet 5;\lsdpriority99 \lsdlocked0 List Number
2;\lsdpriority99 \lsdlocked0 List Number 3;\lsdpriority99 \lsdlocked0 List Number
4;\lsdpriority99 \lsdlocked0 List Number 5;\lsdpriority99 \lsdlocked0
Title;\lsdpriority99 \lsdlocked0 Closing;\lsdpriority99 \lsdlocked0
Signature;\lsdpriority99 \lsdlocked0 Default Paragraph Font;\lsdpriority99
\lsdlocked0 Body Text;\lsdpriority99 \lsdlocked0 Body Text Indent;\lsdpriority99
\lsdlocked0 List Continue;\lsdpriority99 \lsdlocked0 List Continue 2;\lsdpriority99
\lsdlocked0 List Continue 3;\lsdpriority99 \lsdlocked0 List Continue
4;\lsdpriority99 \lsdlocked0 List Continue 5;\lsdpriority99 \lsdlocked0 Message
Header;\lsdpriority99 \lsdlocked0 Subtitle;\lsdpriority99 \lsdlocked0
Salutation;\lsdpriority99 \lsdlocked0 Date;\lsdpriority99 \lsdlocked0 Body Text
First Indent;\lsdpriority99 \lsdlocked0 Body Text First Indent 2;\lsdpriority99
\lsdlocked0 Note Heading;\lsdpriority99 \lsdlocked0 Body Text 2;\lsdpriority99
\lsdlocked0 Body Text 3;\lsdpriority99 \lsdlocked0 Body Text Indent
2;\lsdpriority99 \lsdlocked0 Body Text Indent 3;\lsdpriority99 \lsdlocked0 Block
Text;\lsdpriority99 \lsdlocked0 Hyperlink;\lsdpriority99 \lsdlocked0
FollowedHyperlink;\lsdpriority99 \lsdlocked0 Strong;\lsdpriority99 \lsdlocked0
Emphasis;\lsdpriority99 \lsdlocked0 Document Map;\lsdpriority99 \lsdlocked0 Plain
Text;\lsdpriority99 \lsdlocked0 E-mail Signature;\lsdpriority99 \lsdlocked0 Normal
(Web);\lsdpriority99 \lsdlocked0 HTML Acronym;\lsdpriority99 \lsdlocked0 HTML
Address;\lsdpriority99 \lsdlocked0 HTML Cite;\lsdpriority99 \lsdlocked0 HTML
Code;\lsdpriority99 \lsdlocked0 HTML Definition;\lsdpriority99 \lsdlocked0 HTML
Keyboard;\lsdpriority99 \lsdlocked0 HTML Preformatted;\lsdpriority99 \lsdlocked0
HTML Sample;\lsdpriority99 \lsdlocked0 HTML Typewriter;\lsdpriority99 \lsdlocked0
HTML Variable;\lsdpriority99 \lsdlocked0 Normal Table;\lsdpriority99 \lsdlocked0
annotation subject;\lsdpriority99 \lsdlocked0 No List;\lsdpriority99 \lsdlocked0
1 / a / i;\lsdpriority99 \lsdlocked0 1 / 1.1 / 1.1.1;\lsdpriority99 \lsdlocked0
Article / Section;\lsdpriority99 \lsdlocked0 Table Simple 1;\lsdpriority99
\lsdlocked0 Table Simple 2;\lsdpriority99 \lsdlocked0 Table Simple 3;\lsdpriority99
\lsdlocked0 Table Classic 1;\lsdpriority99 \lsdlocked0 Table Classic
2;\lsdpriority99 \lsdlocked0 Table Classic 3;\lsdpriority99 \lsdlocked0 Table
Classic 4;\lsdpriority99 \lsdlocked0 Table Colorful 1;\lsdpriority99 \lsdlocked0
Table Colorful 2;\lsdpriority99 \lsdlocked0 Table Colorful 3;\lsdpriority99
\lsdlocked0 Table Columns 1;\lsdpriority99 \lsdlocked0 Table Columns
2;\lsdpriority99 \lsdlocked0 Table Columns 3;\lsdpriority99 \lsdlocked0 Table
Columns 4;\lsdpriority99 \lsdlocked0 Table Columns 5;\lsdpriority99 \lsdlocked0
Table Grid 1;\lsdpriority99 \lsdlocked0 Table Grid 2;\lsdpriority99 \lsdlocked0
Table List 1;\lsdpriority99 \lsdlocked0 Table List 2;\lsdpriority99 \lsdlocked0
Table 3D effects 1;\lsdpriority99 \lsdlocked0 Table 3D effects 2;\lsdpriority99
\lsdlocked0 Table 3D effects 3;\lsdpriority99 \lsdlocked0 Table
Contemporary;\lsdpriority99 \lsdlocked0 Table Elegant;\lsdpriority99 \lsdlocked0
Table Professional;\lsdpriority99 \lsdlocked0 Table Subtle 1;\lsdpriority99
\lsdlocked0 Table Subtle 2;\lsdpriority99 \lsdlocked0 Table Web 1;\lsdpriority99
\lsdlocked0 Table Web 2;\lsdpriority99 \lsdlocked0 Table Web 3;\lsdpriority99
\lsdlocked0 Balloon Text;\lsdpriority99 \lsdlocked0 Table Grid;\lsdpriority99
\lsdlocked0 Table Theme;\lsdpriority99 \lsdlocked0 Placeholder
Text;\lsdpriority99 \lsdlocked0 No Spacing;\lsdpriority99 \lsdlocked0 Light
Shading;\lsdpriority99 \lsdlocked0 Light List;\lsdpriority99 \lsdlocked0 Light
Grid;\lsdpriority99 \lsdlocked0 Medium Shading 1;\lsdpriority99 \lsdlocked0 Medium
Shading 2;\lsdpriority99 \lsdlocked0 Medium List 1;\lsdpriority99 \lsdlocked0
Medium List 2;\lsdpriority99 \lsdlocked0 Medium Grid 1;\lsdpriority99 \lsdlocked0
Medium Grid 2;\lsdpriority99 \lsdlocked0 Medium Grid 3;\lsdpriority99 \lsdlocked0
Dark List;\lsdpriority99 \lsdlocked0 Colorful Shading;\lsdpriority99 \lsdlocked0
Colorful List;\lsdpriority99 \lsdlocked0 Colorful Grid;\lsdpriority99 \lsdlocked0
Light Shading Accent 1;\lsdpriority99 \lsdlocked0 Light List Accent
1;\lsdpriority99 \lsdlocked0 Light Grid Accent 1;\lsdpriority99 \lsdlocked0 Medium
Shading 1 Accent 1;\lsdpriority99 \lsdlocked0 Medium Shading 2 Accent
1;\lsdpriority99 \lsdlocked0 Medium List 1 Accent 1;\lsdpriority99 \lsdlocked0 List
Paragraph;\lsdpriority99 \lsdlocked0 Quote;\lsdpriority99 \lsdlocked0 Intense
Quote;\lsdpriority99 \lsdlocked0 Medium List 2 Accent 1;\lsdpriority99 \lsdlocked0
Medium Grid 1 Accent 1;\lsdpriority99 \lsdlocked0 Medium Grid 2 Accent
1;\lsdpriority99 \lsdlocked0 Medium Grid 3 Accent 1;\lsdpriority99 \lsdlocked0 Dark
List Accent 1;\lsdpriority99 \lsdlocked0 Colorful Shading Accent
1;\lsdpriority99 \lsdlocked0 Colorful List Accent 1;\lsdpriority99 \lsdlocked0
Colorful Grid Accent 1;\lsdpriority99 \lsdlocked0 Light Shading Accent
2;\lsdpriority99 \lsdlocked0 Light List Accent 2;\lsdpriority99 \lsdlocked0 Light
Grid Accent 2;\lsdpriority99 \lsdlocked0 Medium Shading 1 Accent
2;\lsdpriority99 \lsdlocked0 Medium Shading 2 Accent 2;\lsdpriority99 \lsdlocked0
Medium List 1 Accent 2;\lsdpriority99 \lsdlocked0 Medium List 2 Accent
2;\lsdpriority99 \lsdlocked0 Medium Grid 1 Accent 2;\lsdpriority99 \lsdlocked0
Medium Grid 2 Accent 2;\lsdpriority99 \lsdlocked0 Medium Grid 3 Accent
2;\lsdpriority99 \lsdlocked0 Dark List Accent 2;\lsdpriority99 \lsdlocked0 Colorful
Shading Accent 2;\lsdpriority99 \lsdlocked0 Colorful List Accent
2;\lsdpriority99 \lsdlocked0 Colorful Grid Accent 2;\lsdpriority99
\lsdlocked0 Light Shading Accent 3;\lsdpriority99 \lsdlocked0 Light List Accent
3;\lsdpriority99 \lsdlocked0 Medium List 1 Accent 3;\lsdpriority99 \lsdlocked0
Medium List 2 Accent 3;\lsdpriority99 \lsdlocked0 Medium Grid 1 Accent
Medium Grid 3 Accent 3;\lsdpriority99 \lsdlocked0 Dark List Accent 3;\lsdpriority99
\lsdlocked0 Colorful Shading Accent 3;\lsdpriority99 \lsdlocked0 Colorful List
Accent 3;\lsdpriority99 \lsdlocked0 Colorful Grid Accent 3;\lsdpriority99
Accent 6;\lsdpriority99 \lsdlocked0 Colorful Grid Accent 6;}}{\*\generator WPS
Office}{\info {\author Thirah}{\operator Thirah}{\creatim \yr2021 \mo11 \dy7
\hr14 \min57 }{\revtim \yr2021 \mo11 \dy7 \hr16 \min16 }{\version1 }
{\nofpages1 }}\paperw12240 \paperh15840 \margl1800 \margr1800 \margt1440 \margb1440
\gutter0 \ftnbj \aenddoc \dghshow1 \dgvshow1 \jcompress1 \viewkind4
\viewscale100 \splytwnine \htmautsp \lyttblrtgr \lnbrkrule \asianbrkrule
\allowfieldendsel \snaptogridincell \viewkind4 \pgbrdrhead1 \pgbrdrfoot1 {\*\fchars
!),.:;?]\'7d{\uc1 \u168 ?}{\uc1 \u183 ?}{\uc1 \u711 ?}{\uc1 \u713 ?}{\uc1 \u8213 ?}
{\uc1 \u8214 ?}{\uc1 \u8217 ?}{\uc1 \u8221 ?}{\uc1 \u8230 ?}{\uc1 \u8758 ?}{\uc1
\u12289 ?}{\uc1 \u12290 ?}{\uc1 \u12291 ?}{\uc1 \u12293 ?}{\uc1 \u12297 ?}{\uc1
\u65504 ?}}{\*\lchars ([\'7b{\uc1 \u183 ?}{\uc1 \u8216 ?}{\uc1 \u8220 ?}{\uc1
\u65371 ?}{\uc1 \u65505 ?}{\uc1 \u65509 ?}}\fet2 {\*\ftnsep \pard \plain
{\insrsid \chftnsep \par }}{\*\ftnsepc \pard \plain {\insrsid \chftnsepc \par }}
{\*\aftnsep \pard \plain {\insrsid \chftnsep \par }}{\*\aftnsepc \pard \plain
{\insrsid \chftnsepc \par }}\sectd \sbkpage \pgwsxn12240 \pghsxn15840 \marglsxn1800
\margrsxn1800 \margtsxn1440 \margbsxn1440 \guttersxn0 \headery720 \footery720
\pgbrdropt0 \sectdefaultcl \endnhere \pard \plain \ql \li0 \ri0 \lisb0 \sa200
\lisa0 \sl276 \slmult1 \widctlpar \aspalpha \aspnum \adjustright \lin0 \rin0 \itap0
\fs21 \kerning2 \rtlch \ltrch \dbch \af2 \hich \af0 \loch \af0 {\fs22 \kerning2
\rtlch \ltrch \dbch \af4 \hich \af4 \loch \f4 \lang9 \langnp9 Thank you Nas. So,
next I am going to talk about stakeholders impact analysis. What is stakeholders
impact analysis? When a businessman or professional accountant faces an ethical
problem, the first resource for guidance should be to corporate and professional
codes of conduct. However, there are some }{\fs22 \kerning2 \rtlch \ltrch \dbch
\af4 \hich \af4 \loch \f4 \lang1033 \langnp1033 weakness}{\fs22 \kerning2 \rtlch
\ltrch \dbch \af4 \hich \af4 \loch \f4 \lang9 \langnp9 in corporate and
professional codes of conduct because it often do not specifically apply to the
particular problem faced by a professional accountant. Therefore, the decision
maker especially the authorities can be guided by general ethical principles within
a framework to arrive at a defensible ethical decision. So, this framework is known
as stakeholder impact analysis. }{\fs22 \kerning2 \rtlch \ltrch \dbch \af4 \hich
\af4 \loch \f4 \lang9 \langnp9 \par }\pard \plain \ql \li0 \ri0 \lisb0 \sa200
\rtlch \ltrch \dbch \af4 \hich \af4 \loch \f4 \lang9 \langnp9 Next, the map of
corporate stakeholder accountability. In corporation, of course we have
shareholders, employees, }{\fs22 \kerning2 \rtlch \ltrch \dbch \af4 \hich \af4
\loch \f4 \lang1033 \langnp1033 activists}{\fs22 \kerning2 \rtlch \ltrch \dbch \af4
\hich \af4 \loch \f4 \lang9 \langnp9 , customers, governments, creditors and
lenders, supplier, competitors and others including media who can be affected by or
who can affect the achievement of the corporation's objectives. }{\fs22
\kerning2 \rtlch \ltrch \dbch \af4 \hich \af4 \loch \f4 \lang9 \langnp9 \par }\pard
\plain \ql \li0 \ri0 \lisb0 \sa200 \lisa0 \sl276 \slmult1 \widctlpar \aspalpha
\aspnum \adjustright \lin0 \rin0 \itap0 \fs21 \kerning2 \rtlch \ltrch \dbch \af2
\hich \af0 \loch \af0 {\fs22 \kerning2 \rtlch \ltrch \dbch \af4 \hich \af4 \loch
\f4 \lang9 \langnp9 Modern corporations are now accountable to shareholders groups,
both of which form the set of stakeholders to which a company responds. Based on
Freeman in 1984, a stakeholder is anyone who is affected by or can affect the
objectives of the organization. However, company cannot reach its full potential if
there is no support from stakeholders. This is why it is important to have
stakeholders support in the corporation. }{\fs22 \kerning2 \rtlch \ltrch \dbch \af4
\hich \af4 \loch \f4 \lang9 \langnp9 \par }\pard \plain \ql \li0 \ri0 \lisb0 \sa200
\rtlch \ltrch \dbch \af4 \hich \af4 \loch \f4 \lang9 \langnp9 The idea of a
monolithic shareholder group focused solely on short-term profit is being
challenged because modern corporation also found out that their shareholders are
made up of persons and institutional investors who are interested in longer-term
time horizons and in how ethically business is conducted. so, many investor or
ethical investors, as well as stakeholder groups, believe in managing the
corporation on a broader basis than short-term profit only. So this stakeholder do
not only focus on short-term profit but wider/ broader basis of corporation.
Usually, the maximization of profit in a longer than one year time frame requires
harmonious relationship with most stakeholder groups and their interests. However,
a negative public relations experience can be significant and }{\fs22 \kerning2
\rtlch \ltrch \dbch \af4 \hich \af4 \loch \f4 \lang1033 \langnp1033 embarrassing}
{\fs22 \kerning2 \rtlch \ltrch \dbch \af4 \hich \af4 \loch \f4 \lang9 \langnp9
price to pay for a }{\fs22 \kerning2 \rtlch \ltrch \dbch \af4 \hich \af4 \loch
\f4 \lang1033 \langnp1033 decision making}{\fs22 \kerning2 \rtlch \ltrch \dbch \af4
\hich \af4 \loch \f4 \lang9 \langnp9 process which completely disregards the
stakeholder groups' demands. It doesn't matter whether there are special interest
groups because they are also shareholders. their ability to use the media to hold
corporations accountable is obvious and expanding. Thus, corporation found out that
while they were formerly legally and pragmatically liable to shareholders, they are
now more accountable to stakeholders. }{\fs22 \kerning2 \rtlch \ltrch \dbch \af4
\hich \af4 \loch \f4 \lang9 \langnp9 \par }\pard \plain \ql \li0 \ri0 \lisb0 \sa200
\rtlch \ltrch \dbch \af4 \hich \af4 \loch \f4 \lang9 \langnp9 So next is
fundamental interests of stakeholders. there are four interests of stakeholder
which are well-offness, fairness, right and virtuosity. Well-offness is where the
proposed decision should result in more benefits than costs. secondly, fairness,
which the distribution of benefits and burdens should be fair. Next, is right. the
right as stakeholders is the proposed decision should not offend
the rights of the stakeholders and the decision maker. and the last one,
virtuosity where the proposed decision should demonstrate virtues reasonably
expected. All four interest must be satisfied for a decision to be considered
ethical. }{\fs22 \kerning2 \rtlch \ltrch \dbch \af4 \hich \af4 \loch \f4 \lang9
\langnp9 \par }\pard \plain \ql \li0 \ri0 \lisb0 \sa200 \lisa0 \sl276 \slmult1
\widctlpar \aspalpha \aspnum \adjustright \lin0 \rin0 \itap0 \fs21 \kerning2 \rtlch
\ltrch \dbch \af2 \hich \af0 \loch \af0 {\fs22 \kerning2 \rtlch \ltrch \dbch
\af4 \hich \af4 \loch \f4 \lang9 \langnp9 Next, measurement of quantifiable
impacts. Profits is fundamental to the interests of shareholders and is essential
to the survival and health of our corporations. Profit is also a short-term measure
and that several important impacts are not captured in the determination of profit
which can be corrected in two sections under items not included in profit, }
{\fs22 \kerning2 \rtlch \ltrch \dbch \af4 \hich \af4 \loch \f4 \lang1033
\langnp1033 measurable}{\fs22 \kerning2 \rtlch \ltrch \dbch \af4 \hich \af4
\loch \f4 \lang9 \langnp9 directly and not measurable directly. }{\fs22
\kerning2 \rtlch \ltrch \dbch \af4 \hich \af4 \loch \f4 \lang9 \langnp9 \par }\pard
\plain \ql \li0 \ri0 \lisb0 \sa200 \lisa0 \sl276 \slmult1 \widctlpar \aspalpha
\hich \af0 \loch \af0 {\fs22 \kerning2 \rtlch \ltrch \dbch \af4 \hich \af4 \loch
\f4 \lang9 \langnp9 one of the example of measurable directly is when a company
pollutes, the cost of cleanup is usually absorbed by individuals, companies and }
\langnp1033 municipalities}{\fs22 \kerning2 \rtlch \ltrch \dbch \af4 \hich \af4
\loch \f4 \lang9 \langnp9 . These costs are referred to as externalities.}{\fs22
\kerning2 \rtlch \ltrch \dbch \af4 \hich \af4 \loch \f4 \lang1033 \langnp1033
Example of externalities are like air pollution, water pollution and etc.}{\fs22
\kerning2 \rtlch \ltrch \dbch \af4 \hich \af4 \loch \f4 \lang9 \langnp9 Their
impacts can often be measured directly by costs of }{\fs22 \kerning2 \rtlch
\ltrch \dbch \af4 \hich \af4 \loch \f4 \lang1033 \langnp1033 cleanup}{\fs22
\kerning2 \rtlch \ltrch \dbch \af4 \hich \af4 \loch \f4 \lang9 \langnp9 incurred
by others. as for not measurable directly is the other externalities exist where
the cost in the determination of the company's profit, but the benefit is enjoyed
by persons outside of the company such as donation and scholarship.}{\fs22
\kerning2 \rtlch \ltrch \dbch \af4 \hich \af4 \loch \f4 \lang1033 \langnp1033 For
example scholarships, a surrogate for the benefit could be the increase in earnings
gained by the recipient. Other then that,it}{\fs22 \kerning2 \rtlch \ltrch \dbch
\af4 \hich \af4 \loch \f4 \lang9 \langnp9 include loss of health suffered by
people absorbing pollution where the cost cannot be measured directl}{\fs22
\kerning2 \rtlch \ltrch \dbch \af4 \hich \af4 \loch \f4 \lang1033 \langnp1033 y
because the value could be estimated as the income lost plus the cost of medical
treatment plus the loss of productivity in the workplace involved as measured by
the cost of fill-in workers.}{\fs22 \kerning2 \rtlch \ltrch \dbch \af4 \hich
\af4 \loch \f4 \lang9 \langnp9 }{\fs22 \kerning2 \rtlch \ltrch \dbch \af4 \hich
\af4 \loch \f4 \lang9 \langnp9 \par }\pard \plain \ql \li0 \ri0 \lisb0 \sa200
\rtlch \ltrch \dbch \af4 \hich \af4 \loch \f4 \lang9 \langnp9 Next, I am going to
talk about capital budgeting analysis (CBA) which is }{\fs22 \kerning2 \rtlch
\ltrch \dbch \af4 \hich \af4 \loch \f4 \lang1033 \langnp1033 bringing the future to
the present. T}{\fs22 \kerning2 \rtlch \ltrch \dbch \af4 \hich \af4 \loch \f4
\lang9 \langnp9 he future values are discounted at an interest rate that reflects
the expected interest rates in future years (NPV)}{\fs22 \kerning2 \rtlch \ltrch
\dbch \af4 \hich \af4 \loch \f4 \lang1033 \langnp1033 . so by using the net present
value approach of CBA, the benefits and costs of a proposed action can be assessed
by PV of benefits - PV of costs or proposed action. The benefits include revenues
and good externalities while, the costs include costs plus bad externalities. Okay,
what is good and bad externalities. As we all know externalities is a cost or
benefits imposed onto a third party. So through this consumption and production,
there are good and bad externalities. The example of good externalities is like new
technology where it simply ease the production to mass produce and advertising for
the corporation to advertise their product. These are all good externalities.
However, due to the production and consumption of externalities, it leads to bad
externalities such as air pollution, water pollution and etc. So what CBA allows a
decision maker to do is to bring these future benefits and costs into the present
for a fuller analysis of a proposed decision. }{\fs22 \kerning2 \rtlch \ltrch \dbch
\af4 \hich \af4 \loch \f4 \lang1033 \langnp1033 \par }\pard \plain \ql \li0 \ri0
\widctlpar \keep0 \keepn0 \noline0 \aspalpha \aspnum \adjustright \lin0 \rin0
\itap0 \fs21 \kerning2 \rtlch \ltrch \dbch \af2 \hich \af0 \loch \af0 {\fs22
\kerning2 \rtlch \ltrch \dbch \af4 \hich \af4 \loch \f4 \lang1033 \langnp1033 So
next we will discuss how to deal with uncertain outcomes. There are estimates that
are uncertain. However, the analysis can be based on the best estimates, on three
possibilities which are most optimistic, pessimistic, and best estimate. Or on
expected values developed from a computer simulation.}{\rtlch \fcs1 \af4 \afs22
\ltrch \fcs0 \fs22 \kerning2 \rtlch \ltrch \dbch \af2 \hich \af4 \loch \f4
\lang1033 \langnp1033 }{\rtlch \fcs1 \af4 \afs22 \ltrch \fcs0 \fs22 \kerning0
\rtlch \alang1 \ltrch \dbch \af2 \hich \af4 \loch \f4 \lang1033 \langnp1033
\langfe2052 \langfenp2052 \alang1 \cf8 All of these are expected values, which are
combinations of a value and a probability of its occurrence. This is normally
expressed by expected value is equal to value of Outcome x\'02 Probability of
Outcome Occurring of an Outcome.}{\rtlch \fcs1 \af4 \afs22 \ltrch \fcs0 \fs22
\kerning0 \rtlch \alang1 \ltrch \dbch \af5 \hich \af4 \loch \f4 \lang1033
\langnp1033 \langfe2052 \langfenp2052 \alang1 \cf8 The advantage of this expected
value formulation is that the cost}{\rtlch \fcs1 \af4 \afs22 \ltrch \fcs0 \fs22
\langnp1033 \langfe2052 \langfenp2052 \alang1 \cf8 \uc1 \u8211 ?}{\rtlch \fcs1 \af4
\afs22 \ltrch \fcs0 \fs22 \kerning0 \rtlch \alang1 \ltrch \dbch \af5 \hich \af4
\loch \f4 \lang1033 \langnp1033 \langfe2052 \langfenp2052 \alang1 \cf8 benefit
analysis (CBA) framework can be modified to include the risk associated with
outcomes to be included. This new approach is referred to as risk-benefit analysis
and it can be applied where risky outcomes are prevalent in the following framework
which is risk- adjusted or expected value of net benefits equal to expected PV of
future benefits - expected PV of future costs. }{\rtlch \fcs1 \af4 \afs22 \ltrch
\fcs0 \fs22 \kerning2 \rtlch \ltrch \dbch \af2 \hich \af4 \loch \f4 \lang1033
\langnp1033 \par }\pard \plain \ql \li0 \ri0 \widctlpar \keep0 \keepn0 \noline0
\aspalpha \aspnum \adjustright \lin0 \rin0 \itap0 \fs21 \kerning2 \rtlch \ltrch
\dbch \af2 \hich \af0 \loch \af0 {\rtlch \fcs1 \af4 \afs22 \ltrch \fcs0 \fs22
\par }\pard \plain \ql \li0 \ri0 \widctlpar \keep0 \keepn0 \noline0 \aspalpha
\hich \af0 \loch \af0 {\rtlch \fcs1 \af4 \afs22 \ltrch \fcs0 \fs22 \kerning2 \rtlch
\ltrch \dbch \af2 \hich \af4 \loch \f4 \lang1033 \langnp1033 Okay we move on to
next one, identifying stakeholders and ranking their interests. }{\rtlch \fcs1 \af4
\loch \f4 \lang1033 \langnp1033 \langfe2052 \langfenp2052 \alang1 \cf8 the }{\rtlch
\fcs1 \af4 \afs22 \ltrch \fcs0 \fs22 \kerning2 \rtlch \ltrch \dbch \af2 \hich
\af4 \loch \f4 \par }\pard \plain \ql \li0 \ri0 \widctlpar \keep0 \keepn0
\noline0 \aspalpha \aspnum \adjustright \lin0 \rin0 \itap0 \fs21 \kerning2
\rtlch \ltrch \dbch \af2 \hich \af0 \loch \af0 {\rtlch \fcs1 \af4 \afs22 \ltrch
\fcs0 \fs22 \kerning0 \rtlch \alang1 \ltrch \dbch \af5 \hich \af4 \loch \f4
\lang1033 \langnp1033 \langfe2052 \langfenp2052 \alang1 \cf8 usefulness of a
stakeholder impact analysis depends on the full identification of all stake\'02}
{\rtlch \fcs1 \af4 \afs22 \ltrch \fcs0 \fs22 \kerning2 \rtlch \ltrch \dbch \af2
\hich \af4 \loch \f4 \par }\pard \plain \ql \li0 \ri0 \widctlpar \keep0 \keepn0
\noline0 \aspalpha \aspnum \adjustright \lin0 \rin0 \itap0 \fs21 \kerning2
\rtlch \ltrch \dbch \af2 \hich \af0 \loch \af0 {\rtlch \fcs1 \af4 \afs22 \ltrch
\fcs0 \fs22 \kerning0 \rtlch \alang1 \ltrch \dbch \af5 \hich \af4 \loch \f4
\lang1033 \langnp1033 \langfe2052 \langfenp2052 \alang1 \cf8 holders and their
interests.For example, if a stakeholder is poor, he will not be able to buy
remedial treatment, or, alternatively, his reserves may be so low that other family
members}{\rtlch \fcs1 \af4 \afs22 \ltrch \fcs0 \fs22 \kerning0 \rtlch \alang1
\ltrch \dbch \af6 \hich \af4 \loch \f4 \lang1033 \langnp1033 \langfe2052
\langfenp2052 \alang1 \cf8 \uc1 \u8212 ?}{\rtlch \fcs1 \af4 \afs22 \ltrch \fcs0
\fs22 \kerning0 \rtlch \alang1 \ltrch \dbch \af5 \hich \af4 \loch \f4 \lang1033
\langnp1033 \langfe2052 \langfenp2052 \alang1 \cf8 perhaps children}{\rtlch
\fcs1 \af4 \afs22 \ltrch \fcs0
\fs22 \kerning0 \rtlch \alang1 \ltrch \dbch \af6 \hich \af4 \loch \f4 \lang1033
\langnp1033 \langfe2052 \langfenp2052 \alang1 \cf8 \uc1 \u8212 ?}{\rtlch \fcs1 \af4
\loch \f4 \lang1033 \langnp1033 \langfe2052 \langfenp2052 \alang1 \cf8 will suffer.
On the other hand, a scholarship to a poor recipient could create a benefit for
that person and others of significantly greater impact than to a person who is well
off.}{\rtlch \fcs1 \af5 \afs20 \ltrch \fcs0 \fs20 \kerning0 \rtlch \alang1
\langfenp2052 \alang1 \cf8 }{\rtlch \fcs1 \af4 \afs22 \ltrch \fcs0 \fs22 \kerning0
\rtlch \alang1 \ltrch \dbch \af5 \hich \af4 \loch \f4 \lang1033 \langnp1033
\langfe2052 \langfenp2052 \alang1 \cf8 Two research thrusts can prove quite useful
in identifying and understanding stakeholder groups and their interactions.
Mitchell, Agle, and Wood (1997) suggest that stakeholders and their interests be
evaluated on three dimensions: }{\rtlch \fcs1 \af4 \afs22 \ltrch \fcs0 \fs22
\langnp1033 \langfe2052 \langfenp2052 \alang1 \cf8 legitimacy}{\rtlch \fcs1 \af4
\loch \f4 \lang1033 \langnp1033 \langfe2052 \langfenp2052 \alang1 \cf8 , or legal
and/ or moral right to influence the organization; }{\rtlch \fcs1 \af4 \afs22
\ltrch \fcs0 \fs22 \kerning0 \rtlch \alang1 \ltrch \dbch \af7 \hich \af4 \loch
\f4 \lang1033 \langnp1033 \langfe2052 \langfenp2052 \alang1 \cf8 power }{\rtlch
\fcs1 \af4 \afs22 \ltrch \fcs0 \fs22 \kerning0 \rtlch \alang1 \ltrch \dbch \af5
\hich \af4 \loch \f4 \lang1033 \langnp1033 \langfe2052 \langfenp2052 \alang1 \cf8
to influence the organization through the media, government, or other means; and
perceived on real }{\rtlch \fcs1 \af4 \afs22 \ltrch \fcs0 \fs22 \kerning0 \rtlch
\alang1 \ltrch \dbch \af7 \hich \af4 \loch \f4 \lang1033 \langnp1033 \langfe2052
\langfenp2052 \alang1 \cf8 urgency }{\rtlch \fcs1 \af4 \afs22 \ltrch \fcs0 \fs22
\langnp1033 \langfe2052 \langfenp2052 \alang1 \cf8 of the issues }{\rtlch \fcs1
\af4 \afs22 \ltrch \fcs0 \fs22 \kerning2 \rtlch \ltrch \dbch \af2 \hich \af4
\loch \f4 \par }\pard \plain \ql \li0 \ri0 \widctlpar \keep0 \keepn0 \noline0
\aspalpha \aspnum \adjustright \lin0 \rin0 \itap0 \fs21 \kerning2 \rtlch \ltrch
\dbch \af2 \hich \af0 \loch \af0 {\rtlch \fcs1 \af4 \afs22 \ltrch \fcs0 \fs22
\langnp1033 \langfe2052 \langfenp2052 \alang1 \cf8 arising.}{\rtlch \fcs1 \af4
\loch \f4 \lang1033 \langnp1033 \langfe2052 \langfenp2052 \alang1 \cf8
\alang1 \ltrch \dbch \af5 \hich \af4 \loch \f4 \lang1033 \langnp1033 \langfe2052
\langfenp2052 \alang1 \cf8 \par }\pard \plain \ql \li0 \ri0 \widctlpar \keep0
\keepn0 \noline0 \aspalpha \aspnum \adjustright \lin0 \rin0 \itap0 \fs21
\kerning2 \rtlch \ltrch \dbch \af2 \hich \af0 \loch \af0 {\rtlch \fcs1 \af4
\loch \f4 \lang1033 \langnp1033 \langfe2052 \langfenp2052 \alang1 \cf8 Next,
assessment of non-quantifiable impacts. The first one is fairness among
stakeholders. This issue is very common in Malaysia. The concern for fair treatment
has been evident in society\uc1 \u8217 ?s recent preoccupation with such issues as
discrimination against women and even race discrimination includes the matters of
hiring, promotion and pay. A bank negara malaysia report from 2018 showed that the
majority of Malaysians were underpaid for their value and skill level of work
compared to other developed countries such as Australia and Singapore. Thus, a
decision will be considered unethical unless it is seen to be fair to all
stakeholders. As for right of stakeholder, a}{\fs22 \kerning0 \rtlch \ltrch
\dbch \af5 \hich \af4 \loch \f4 \lang1033 \langnp1033 \langfe2052 \langfenp2052
\cf8 decision will only be considered ethical if its impacts do not offend the
rights of the stakeholders impacted upon, and the rights of the person making the
decision. }{\fs22 \kerning0 \rtlch \ltrch \dbch \af5 \hich \af4 \loch \f4 \lang1033
\langnp1033 \langfe2052 \langfenp2052 \cf8 \par }\pard \plain \ql \li0 \ri0
\itap0 \fs21 \kerning2 \rtlch \ltrch \dbch \af2 \hich \af0 \loch \af0 {\fs22
\langfe2052 \langfenp2052 \cf8 \par }\pard \plain \ql \li0 \ri0 \widctlpar
\keep0 \keepn0 \noline0 \aspalpha \aspnum \adjustright \lin0 \rin0 \itap0 \fs21
\kerning2 \rtlch \ltrch \dbch \af2 \hich \af0 \loch \af0 {\fs22 \kerning0 \rtlch
\langfenp2052 \cf8 So there are 6 of stakeholders rights in North America which may
generally expect to enjoy the rights which are life, health and safety, fair
treatment, exercise of conscience, dignity and privacy, and freedom of speech. }
{\rtlch \fcs1 \af4 \afs22 \ltrch \fcs0 \fs22 \kerning0 \rtlch \alang1 \ltrch
\dbch \af5 \hich \af4 \loch \f4 \lang1033 \langnp1033 \langfe2052 \langfenp2052
\alang1 \cf8 Some of these rights have been accorded with protection under laws and
legal regulations, while others are enforced through common law or through public
sanction of offenders. For example, employees and consumers are protected under
statute for health and safety, whereas dignity and privacy tend to be subject to
common law, and the exercise of conscience is subject to public sanction. }
\langnp1033 \langfe2052 \langfenp2052 \cf8 Because of the complicated interplay of
laws, regulation, common law, and value-based judgement, each potential breach of a
stakeholder's rights should be carefully evaluated.}{\fs21 \kerning2 \rtlch
\ltrch \dbch \af2 \hich \af0 \loch \f0 \lang1033 \langnp1033 \par }\pard \plain \ql
\li0 \ri0 \widctlpar \keep0 \keepn0 \noline0 \aspalpha \aspnum \adjustright
\lin0 \rin0 \itap0 \fs21 \kerning2 \rtlch \ltrch \dbch \af2 \hich \af0 \loch \af0
\langnp1033 \langfe2052 \langfenp2052 \cf8 \par }\pard \plain \ql \li0 \ri0
\itap0 \fs21 \kerning2 \rtlch \ltrch \dbch \af2 \hich \af0 \loch \af0 {\rtlch \fcs1
\af4 \afs22 \ltrch \fcs0 \fs22 \kerning0 \rtlch \alang1 \ltrch \dbch \af5 \hich
\af4 \loch \f4 \lang1033 \langnp1033 \langfe2052 \langfenp2052 \alang1 \cf8
\ltrch \dbch \af2 \hich \af4 \loch \f4 \lang1033 \langnp1033 \par }\pard \plain \ql
\li0 \ri0 \lisb0 \sa200 \lisa0 \sl276 \slmult1 \widctlpar \aspalpha \aspnum
\adjustright \lin0 \rin0 \itap0 \fs21 \kerning2 \rtlch \ltrch \dbch \af2 \hich \af0
\loch \af0 {\fs22 \kerning2 \rtlch \ltrch \dbch \af4 \hich \af4 \loch \f4 \lang1033
\langnp1033 \par }\pard \plain \ql \li0 \ri0 \lisb0 \sa200 \lisa0 \sl276
\slmult1 \widctlpar \aspalpha \aspnum \adjustright \lin0 \rin0 \itap0 \fs21
\kerning2 \rtlch \ltrch \dbch \af2 \hich \af0 \loch \af0 {\fs22 \kerning2 \rtlch
\ltrch \dbch \af4 \hich \af4 \loch \f4 \lang9 \langnp9 \par }}

Script

Uploaded by

Document Information

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Script

Uploaded by

Copyright:

Available Formats

{\rtf1 \ansi \ansicpg1252 \deff0 \stshfdbch2 \stshfloch0 \stshfhich0

\deflang1033 \deflangfe1033 {\fonttbl {\f0 \froman \fcharset0 \fprq2 {\*\panose

You might also like