Difference Between Agency Theory And Stewardship Theory
Discuss the differences between the “agency theory” and the “stewardship theory”. Explain which of these theories applies to your strategic audit firm and why? Both speak the truth connections in the middle of manager and employee, for example, proprietors employing a manager to decide. The organization hypothesis trusts that directors if left unattended will settle on choices in light of self-hobby. Interestingly, the stewardship hypothesis trusts that if given power and obligation, the employee can follow up for the benefit of the rule. It is a distinction in points of view, and the outcome is that organizations give high motivations with the goal that directors’ demonstration in light of a legitimate concern for proprietors (agency hypothesis). I still think that agency theory will fit my strategic audit firm. Managers were hired to be the leaders of organizations. They acquire the skills and abilities managers should have to run firms. I also believed that they are the ones who truly understand each corner of the firm while other agents were not. Since they are on top of the organization, they have the abilities to cope with the possible problems that could emerge since they master each level of an organization.
Explain the strategic roles Board of Directors have in conjunction with senior management and the running of an organization. Which Degree of Involvement in Strategic Management describes the Board of Directors for your strategic audit firm, and why? The
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