Transcription of A PRACTICAL PERSPECTIVE: STEWARDSHIP
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A PRACTICAL PERSPECTIVE: STEWARDSHIP
A PRACTICAL perspective : STEWARDSHIP . FOSTERING RESPONSIBLE. LONG-TERM WEALTH CREATION. PUBLISHED BY IMD (2015). Introduction: STEWARDSHIP in a nutshell How can a business thrive and sustain growth while enhancing the wealth of its stakeholders and the well-being of the societies in which it operates? This, in essence, is the question STEWARDSHIP aims to answer. The landscape for business is ever evolving. Business structures and relationships PROF. among stakeholders are becoming more complex and interdependent. Businesses DR. DIDIER COSSIN face unrelenting short-term pressures when making decisions. Corporate governance practices are reevaluated after every financial crisis, but often move in the direction of increasing guidelines and regulations. Such corporate governance measures are helpful and often necessary.
Stewardship theory – on the other hand - suggests that managers will act as responsible stewards of the assets they control on behalf of the owners. The principal-agent problem is the following: how can owners ensure that managers promote …
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