Agency Theory Description Agency theory describes the relationship between principals (shareholders‚ investors and owners) and agents (management). Theoretical discussions in business and academia may be a modern phenomena‚ however the dynamics surrounding agency relationships have been around since the dawn of barter and exchange. Most business relationships are fundamentally agency relationships. In simplistic terms principals have interests and goals to which they have transferred the
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generally determined by three factors 1. Motivation- The desire to do the job 2. Ability- The capability to do the job 3. Work environment- Tools‚ materials‚ information‚ etc b. Historical Perspectives on Motivation i. Traditional Approach 1. Use of an incentive pay system 2. Managers know more about the jobs being performed 3. Economic gain is everyone’s primary motivation 4. Work is inherently unpleasant for most ii. Human Relations Approach 1. Emphasis on social role in the workplace 2. Assumes employees
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Theory X‚ Theory Y by Douglas McGregor is a motivation theory. Douglas McGregor is a social psychologist and applied two sets of assumptions to the organizational structure called Theory X and Theory Y. His theory is based on managerial views of human beings. In his book‚ The Human Side of Enterprise‚ he outlined a new role for managers. He stated that managers should assist subordinates in reaching their full potential‚ rather than commanding and controlling. Theory X is negative and Theory Y can
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Philosophy Ego Theory and Bundle Theory Derek Parfit’s views on personal identity and the Ego and Bundle Theory are all summarized in his article “Divided Minds and the Nature of Persons”. In his article‚ Parfit explains the distinction between Ego theory and Bundle theory and provides several arguments against Ego Theory. Although it proves to be very difficult to believe the Bundle Theory‚ Parfit’s critique is convincing and well thought out. In order to defend the Bundle Theory of personal identity
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Motivational theories have been studied by many scientists for many years. Motivation is “the processes that account for an individual’s intensity‚ direction‚ and persistence of effort toward attaining a goal.” In laymen terms motivation has been said to be a reasoning of why people do the things that they do or say some of the things they say and want some of the things they want. Many scientists put a lot of time and effort into the study of human beings and this intriguing topic testing hypotheses
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1. What is a scientific theory? Please cite a definition you like. As Watson stated in "The Value of Theories"‚ a scientific theory is a systematic explanation that unifies various observed phenomena and facts. Based on observations we make‚ science operates under theories which are constantly revised and checked by experiment. A scientific theory also possesses many vital qualities for true understanding. 2. What is the difference between a scientific theory and common sense ideas about the same
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Theory X and Theory Y represent two sets of assumptions about human nature and human behavior that are relevant to the practice of management. Theory X represents a negative view of human nature that assumes individuals generally dislike work‚ are irresponsible‚ and require close supervision to do their jobs. Theory Y denotes a positive view of human nature and assumes individuals are generally industrious‚ creative‚ and able to assume responsibility and exercise self-control in their jobs. One would
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Theory X and Theory Y After World War II there were several studies performed that ultimately revealed how assumptions about workers’ attitudes and behaviors affect managers’ behavior. In the 1960s one of the most influential approaches was created and developed by Douglas McGregor at the MIT Sloan School Of Management. He proposed two sets of assumptions about how work attitudes and behaviors not only dominate the way mangers think but also affect how they behave in organizations. He named these
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Evaluating the Theory of Constraint and Queuing Theory Abstract The Theory of Constraints and the Queuing Theory is something that all forms of businesses should be looking to exploit. The Theory of Constraints contends that all businesses have some form of constraint that keeps them from working at optimum efficiency. These constraints are found‚ reviewed‚ and corrected by a simple process of finding what to change‚ what to change to‚ and how to cause the change. The Queuing Theory can be applied
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1.0 THEORY X1.1 THEORY X ASSUMPTIONS | 2-3 | 2 | 2.0 THEORY Y2.1 THEORY Y ASSUMPTIONS | 4-5 | 3 | 3.0 BIG FIVE PERSONALITY TRAITS-OPENNESS-EXTRAVERSION-NEUROTICISM-CAREFULNESS-SOCIABILITY | 6-11 | 1.0 THEORY X What is theory X? The “Theory X” management theory holds that the average employee has little ambition‚ dislikes work and must be coerced‚ controlled and directed to achieve organizational objectives. Those in management who believe the behavioral assumption of “Theory X” take
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