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.

responsibility for protecting assets over time. However, used in the corporate and business sense, stewardship means something conceptually quite different. The theory of the firm provides a useful conceptual basis upon which to build on. Agency theory assumes that managers will act in their own self-interest at the expense of shareholders.

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  Corporate, Perspective, Practical, Responsibility, Stewardship, A practical perspective

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