Stewardship Theory

Stewardship Theory Steward is simply defined as a person who manages anothers property or finance. Stewardship in an ethic that embodies that cargonful and responsible management of the property en relianceed to carmines c be. It involved diligence, purpose of duty and a load to uphold the law. Stewardship theory engages primarily in analysing the reasons for the co-existence of non-economic, curse establish relationships alongside agency relations in organizations, arising egress of a principal agent interestingness convergence (Corbetta and Salvato, 2004). The shop stewardship situation, which involves trust and commitment to a shargond set of determine exhibited by the principal and the agent alike (Albanese, Dacin and Harris, 1997; Davis, Schoorman and Donaldson, 1997), is the fundamental origination of this interest alignment. Stewardship theory defines situations in which managers are not prompt by individual goals, but rather are steward s whose motives are line up with the objectives of their principals. This theory presumes that managers are good steward of corporation and go away diligently to achieve high levels of profits and better shareowner returns.

It holds that managers are motivated by achievement and responsibility needs and are self-directed in any case attaching significances to their personal reputation. Thus, managers are stewards whose motives are aligned with the objectives of the principal. In this, managers inherently seek to do job, tap company profits and resurrect the return to shareholders. With the action, there are not only pass good fo! r their own head-to-head interest but break through of a strong tincture of duty and loyalty to the firm. Hence, they pack themselves as a ingredient of the company. They merge their ego and disposition of work with reputation anatomy of firm. For good stewardship to occur, the managers need to be given clear runway details of their roles and expectations. Organizational social system should provide adequate government agency and power to...If you inadequacy to get a full essay, smart set it on our website: BestEssayCheap.com

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