AN ENTREPRENEURIAL APPROACH TO STEWARDSHIP ACCOUNTABILITY
Corporate Residual and Global Poverty
by Raymond W Y Kao (Ryerson University, Canada) , Kenneth R Kao (Memorial University of Newfoundland, Canada) , & Rowland R Kao (Oxford University, UK)
The continuation of global poverty is inextricably entwined with the fundamental philosophy of the market economy. It is driven by the individual's neverending desire for “profit”, leading to a critically imbalanced distribution of resources. As an entrepreneurial initiative, this book advocates a shift in the responsibility for relief of poverty away from the government to the private sector, and in particular to corporate entities. The concept of the “residual” is used as the cornerstone of business operations and wealth distribution. Corporate decision-makers, while making proprietary decisions for resources allocation, must assume stewardship responsibility and be accountable not just to financial investors but to all contributors of the corporate entity.
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Contents: |
- Global Poverty and the Market Economy
- The Band-Aid Approach to Human Poverty
- The Nature of Ownership
- Custodianship, Ownership Rights, and Stewardship Responsibility
- Cost
- From Cost to Profit
- The Market Economy, Profit and Corporate Residual
- Residual and Social Enterprise
- How Accounting May Help to Relieve the Pressure of Global Poverty
- Is It the End or an End of a Beginning?
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| Readership: As a text supplement for all business courses, particularly business management courses. More for the management group courses (for both graduate and undergraduate) than accounting. University and college students in commerce and business at all levels, professionals, social service and charitable organization executives, researchers and environmental advocates. |
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“This excellent book attacks issues such as excess, poverty, wealth and sustainability in modern society. Its authors propose a new way of approaching, using and distributing wealth, and the information it provides is extremely relevant to the field of entrepreneurship.” |
Professor Louis Jacques-Filion
Maclean Hunter Professor of Entrepreneurship
École des Hautes Études Commerciales de Montréal, Montreal Business School, Canada |
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“Kao's cost analysis is right on, messages deserve to be seen, inwardly digested, and most important of all, acted upon. I hope we live to see even a small measure of positive change.” |
Görd Fuller
FCGA, Executive Director
Certified General Accountants, Association of Ontario |
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“This new book addresses far reaching topics of nowadays global concern in a market economic setting.” |
Professor J Hanns Pichler
Institut für Volkswirtschaftstheorie und -politikHead |
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“The book does not try to change the market economy; simply refine it to make the distribution of wealth a little more equal, without deterring people from innovating and creating for their own interests.” |
Kim Daitchman
MBA-Marketing Strategy |
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“This present book offers a brilliant conceptual model for our community, and in particular, the Accounting profession, to play a catalytic role in servicing our future generations by instituting new Stewardship Accounting principles and practices.” |
Professor Soke Yin Han-Wong
Nanyang Business School, Nanyang Technological University, Singapore |
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“This masterpiece on Stewardship Accountabilty carries powerful messages for leaders in the 21th century … especially those of them who are not aware of the danger in believing that elitism and market economy are among the best solutions in community and nation building.” |
Professor Choon Chiang Leong
Nanyang Business School, Nanyang Technological University, Singapore |
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“This book provides an innovative and practical approach to the stewardship of resources for individual self-interest and the common good. I highly recommend it to business academics and practitioners, for it stimulates their thinking with respect to the responsibility and accountability on the part of stewards of resources, and how the latter can be redistributed for the common good.” |
Professor Marjorie Chan
California State University at Stanislaus |
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| 196pp |
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Pub. date: Nov 2004 |
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