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Agency Theory versus Stakeholder Theory

Essay Instructions:

Need your help again. my tutor told this essay need to apply your own understanding on the lectures, seminars, coursework requirement, assessment criteria and assignment writing guidance to the design and writing up of your work. I will upload my study materials, which will be a bit more, and then time I ’m also nervous. The case on the last picture, if you need, please tell me as soon as possible, I ’ll upload it
this essay need 1000words.


 


Assignment writing guidelines Advice on preparation The notes you take during lectures will give you a basic framework of the ideas, theories and concepts that you will need in order to complete the assignment. These notes will not be enough on their own, so you will also need to use information from the required reading, extra references and any other material that you find while doing research for your assignment. When you take notes from a text you are reading, you should ‘translate’ what the author has written into your own words. This will help you check your understanding of the message in the text and make it easier for you to paraphrase the ideas later. If you copy out large amounts of other people’s work, this may result in poor paraphrasing and plagiarism which often leads to failure. It is better to think about what is written from your own point of view and decide if you agree or disagree with the points that the author is making. It is also a good idea to take note of basic points from as many different books and journal articles as possible and compare what the authors say as you are reading. There will be both similarities and differences in their views and if you can begin to classify authors together in groups according to these views, you will find it easier to refer to them later when writing your assignment and supporting particular views or arguments. When taking notes, it is better to only write down the points that are relevant to your focus. Unfortunately, authors don't write especially to help you personally with your assignment, so you will need to use your scanning and skimming reading skills to help you avoid lots of timewasting. Thus, when you are taking notes from a text, you should keep your specific assignment in mind and ask yourself how you can use this particular material in your assignment. Most importantly, you must keep notes of the authors, books/articles, dates, page numbers and any other referencing details to make sure that you can refer to what you have read correctly in your assignment. You must not use another author’s words or ideas without full reference details. See the ‘Referencing guidelines’ at the end of this Section for details of how to reference academic work. Advice on writing Contents It is important to make sure you understand what the assignment question means and that you know how to answer it. No assignment will ask you to write down everything you know about a subject area. All assignments will ask you to consider specific issues in relation to a particular topic. You need to make sure that it is clear in your assignment which are facts and which are opinions. You should also check that you have looked at the issue from every angle. When you evaluate different viewpoints, it is necessary to explore each one to an equal depth. You can't produce a valid conclusion unless you have investigated the arguments for each perspective in a balanced way. Comparison and contrast can help you do this. You should provide evidence for all the assertions that you make in your assignment. This means that you need to support your ideas by referring to theories, concepts, empirical research and/or experience of your own. You can use direct quotations and paraphrase other authors’ work to give support. You should use a variety of citation methods to help make your assignment interesting and convincing, but you must make sure that you have all the correct referencing details for both quotations and paraphrases. ‘Referencing guidelines’ are given at the end of this Section. Organization It is very important that you organise your assignment well, so you need to make a plan, structure your paragraphs carefully and make sure each point that you make relates clearly to those either side. Unless instructed otherwise by your tutor, you should use the introduction/discussion/conclusion format in your assignment – i.e. give the context and outline of your argument, refer to the relevant material and then end the discussion by summarising what has been said and offering your opinion on what the question is asking based on the sources you have used. It is also necessary to organise your writing into clear paragraphs. Each paragraph should contain discussion of a particular point, so when you move onto the next point, you should start a new paragraph. However, if you feel that your paragraph is getting too long and you haven’t come to the end of the point, it’s ok to break off at a logical place and start the next paragraph with a linking work or phrase like `Moreover’, `Furthermore’ or `Additionally’, which makes it clear that you are still discussing the same issue. We also prefer you to use a full blank line to indicate a paragraph break. There will be information on your programme’s Blackboard site to help you with the organisation and flow of your assignments. Style In general, you should aim to write for a layperson – that is, someone who is not an expert in the area, but who will understand the relevant ideas if they are explained clearly. This means that when you use unusual, specialist or technical terms, you must give definitions for them. To avoid using ‘he’, ‘she’, ‘his’, ‘her’ or ‘him’, it is better to use ‘he/she’, ‘his/her’, ‘they’, ‘their’ and ‘them’ (the plural form is commonly used in academic writing to help avoid sexist language). You should only refer to an individual as ‘he’ or ‘she’ when you either know their gender or you are directly quoting someone who uses sexist language (and even then [sic] might be useful – see the Referencing Guidelines). Before you start writing, you should make sure your spellchecker is set to UK English not US English. Referencing guidelines The Harvard system of referencing is an essential requirement for this course. One version of it is shown below, but there are many other acceptable variations – the key is to be consistent. You should follow the referencing rules for three reasons: (a) it demonstrates a disciplined approach to your work (academic rigour) (b) it means you won't be accused of plagiarism because you have acknowledged your sources (c) your reader will be able to follow up on the citations that interest them There are two kinds of referencing: in-text referencing and bibliography. In-text referencing All sources, whether academic books, journal articles, newspaper articles or material from the Internet, must be cited in the main text of your assignment. There are two ways to do this: direct and indirect quotations. Direct quotations 1. For a direct quotation, you use the author's own words. There are a variety of ways to do this, but you must give the author’s surname, the date and page of the publication where you found the quotation. For instance: "Sociological discourse claims to be a knowledge of modern society, the mirror of modern society or the social" (Game 1991:20). OR As Game (1991:20) states, "Sociological discourse claims to be a knowledge of modern society, the mirror of modern society or the social." 2. In a secondary citation, you don’t quote from the original source, but from another book or article that has quoted it. In this case, you give the surname of the original author, followed by ‘cited in’ and the author’s surname, publication date and page number of the book or article that you found the quote in. For example: "A power relationship can only be articulated on the basis of two elements" (Foucault cited in Game 1991:45). OR As Foucault (cited in Game 1991:45) states, "A power relationship can only be articulated on the basis of two elements". 3. You may want to adapt a quotation to fit in with the grammar of your sentence, the flow of your paragraph or clarify its meaning in relation to the point you trying to make. You can use three dots ... to show that you have removed words from the original quotation. Conversely, you can use square brackets [ ] around words that you’ve added to it. For example: Another occasion when threats lead to change is described by Roddick, who reports that “After Jon Entine made his accusations, ... we needed to take action” (1997:310). AND “After Jon Entine made his accusations [that Body Shop products and policies were not as ethical as they appeared], I decided that we needed to take action as quickly as possible” (Roddick 1997:310). 4. Longer direct quotations (i.e. more than about 40 words or three lines) should be separated from the rest of the text as shown below. Once comprehended, these networks of individuals could be tapped into for bottom-up generative forces that could lead to positive educational development, rather than the recent top-down methods of enforcing particular practices: The Conservatives claimed they were [in favour of diversity] and then made everyone do the same curriculum and tests, even told schools how to fill in the attendance register, their school reports ... The present [Labour] government says it is in favour of diversity, but then imposes the same 15-15-20-10-minute literacy-hour pattern on every primary class. (Wragg 2001:16) Such imposed standardisation stifles creativity and inspiration, and may explain the reports of large numbers of British teachers going to work abroad. 5. If there is emphasis in italics and/or bold in the original source, you should reproduce it when quoting - for example: "This is not somehow to claim that gender should not be a central concept and object of study for organizational analysis" (Grey 1995:50). You can also add emphasis to a direct quotation, but make sure that you indicate that you have added this emphasis - for instance: "Thus the new grid of intelligibility is seen as desirable ... it provides a more accurate picture of organizations" (Grey 1995:49 - emphasis added). 6. You can write [sic] after a particular word in a direct quotation to show that this is the way that the author worded the original. This is particularly useful when quoting an author who uses sexist or derogatory language (see ‘Advice on writing: Style’). It makes it clear that these are the words of the source’s author and not yours, and shows that you disapprove of the language used. 7. You should also put referencing information (author’s surname, publication date and page number) when using a diagram or table from another source. 8. You must pay strict attention to your punctuation in quotations, so that it’s clear where they are in your writing, so it’s a good idea to study the punctuation in the previous examples. Another point to note is that some internet sources will not have page numbers, some texts will not have named authors and other texts may not be dated. Ways to deal with these problems are given in ‘Other pointers’ below. Indirect quotations 1. For an indirect quotation, you use your own words to summarise or paraphrase the author's words. For example: Original source text In fields as different as physics, biology, linguistics, anthropology, sociology and psychotherapy, network ideas have been repeatedly invoked over the last hundred years. The multiple origins of network approaches for the social sciences contribute to the eclecticism that characterizes current work. Indirect quotation Network research embraces a diversity of approaches to studying social relations. Kilduff and Tsai (2003) attribute this diversity to the many different sources of the network approach. As you can see above, page numbers are not necessary for indirect quotations. This example also shows how you are expected to change as many words for synonyms as possible, change the word forms (e.g. verbs TO nouns, adjectives TO adverbs) and change the word order (e.g. active TO passive). The ability to do this without changing the meaning of the original text proves that you fully understand it. 2.If more than one author has had the same idea, you can put their reference details together. You can list them either in publication date order or alphabetical order of surname. Whichever listing method you choose, you must be consistent and use it throughout. For instance: Many writers have argued that research is inevitably a subjective exercise (Knights & Willmott 1989; Game 1991; Knights 1995). 3.The rules for secondary citation are similar to those above in ‘Direct Quotations’ point 2. The only difference is that page numbers are not necessary. For example: Pateman’s (cited in McIntosh, 1994) discussion of the contract makes extensive reference to prostitution. OR As McIntosh (1994) points out, Pateman’s discussion of the contract makes extensive reference to prostitution. Other pointers 1.ibid. means `in the same place' and it can be used to stand in for a citation where the citation is the same as the one immediately before it. One way to address this last question is to investigate circulating reference (Latour 1999) which is a concept that is also applicable to a wider spectrum of concerns because of the inherent nature of educational institutions in action. Whether it is the transfer of knowledge from teacher to learner or the influence of policy implementation, chains of processes are at work. Latour defines such processes as “a cascade of re-representations” that causes the object to “lose information on its way and ... redescribe it” (ibid.:248). The page number has been added here to give accurate details for the direct quotation. 2. et al. means `and others' and it should be used in in-text citations where there are more than two authors for one source. Furthermore, Crilly et al. state that “the space on which the graphical objects are arranged (e.g. political maps or building plans) can also hold associations that are meaningful” (2006:346). However, all the authors should be listed in the bibliography. Crilly, N., A. F. Blackwell & P. J. Clarkson (2006) ‘Graphic elicitation: using research diagrams as interview stimuli’ Qualitative Research 6(3):341-366 3. If there is no author for a work that you are using - for example, an editorial piece in a newspaper or magazine – you should use the name of the publication as the author. It has been suggested that “As Japan’s economy becomes more normal, it is natural to expect a more conventional monetary policy” (The Economist 2006:16). In the bibliography, the entry for this citation would appear like this: The Economist (2006) ‘Japan’s Economy: Out, damned D word’ 25th February pp.16 4. It is important not to mix the publication date with the date that an idea was created. Some books are published after the death of the author, long after an idea came about and you may be citing from a second, third, fourth or tenth edition. For instance: In 1973, Marx argued that gold and silver were items of trade, but not in the same sense as others. This is incorrect because Marx died in 1883, so the citation should read: Marx (1973) argued that gold and silver were items of trade, but not in the same sense as others. 5. You must make sure that the publication date that you give is an edition date and not a reprint date. A reprint date shows when more copies of the same book were printed because the first set had sold out. However, the date that you should use is the date when the edition of the book that you are using was first published. This could be a new edition published when the author made amendments to the original book. 6. n.d. means no date. If you use a source which has no publication date, the in-text citation becomes (author's surname n.d.). In this case, you would also put n.d. with the reference details in the bibliography. 7. A citation from a television programme should be referenced as follows: No one can find exactly what they are looking for (Under the Sun 1998). This shows that you can use the name of the programme series or the name of the individual programme if it was a one-off and the year of transmission. 8. A citation from the internet should be referenced in the same way as any other with the author’s name (or site provider’s name if the author’s name is not available), date of publication and page number (if one is available). See ‘Bibliography’ point 7 for an example. Bibliography A bibliography is a list of all the books, journal articles and other sources that you have used to write your assignment. 1. The list should be presented in alphabetical order of author’s surname. If you have read more than one work by the same author present them in chronological order of publication date. Bryman, A. & E. Bell (2003) Business Research Methods Oxford: Oxford University Press Chia, R. (1994) `The concept of decision: a deconstructive analysis’ Journal of Management Studies 31(6):781-806 Chia, R. (1996) Organizational Analysis: A Deconstructive Approach Berlin: Walter de Gruyter If you use works published by the same author in the same year, the first you refer to in your text would be given ‘a’ after the date and the second ‘b’ and so on. This makes it possible for your reader to understand which source you are referring to. For example: Baudrillard, J. (1993a) Symbolic Exchange and Death London: Sage Baudrillard, J. (1993b) The Transparency of Evil: Essays on Extreme Phenomena London: Verso 2.For books, the following format should be used: Game, A. (1991) Undoing the Social Milton Keynes: Open University Press Surname, initial. (year) book title town or city of publication: publisher The title of the book should be italicized, bold or underlined for emphasis. If the city where the book was published is not well known internationally (such as Englewood Cliffs, where Prentice Hall have a site in the USA) or where there is more than one city of the same name (such as Cambridge), it is a good idea to include the state or county as follows: Bandura, A. (1977) Social Learning Theory Englewood Cliffs, New Jersey: Prentice Hall Greenberg, J. & S. Mitchell (1983) Object Relations In Psychoanalytic Theory Cambridge, Massachusetts: Harvard University Press 3.Some books are made up of chapters by different authors. They are called edited books. If you cite from a particular chapter in such a book, your bibliographic reference should look like this: Brewis, J. (1994) `The role of intimacy at work: interactions and relationships in the modern organization' in D. Adam-Smith & A. Peacock (eds.) Cases in Organizational Behaviour London: Pitman pp. 43-50 Surname, initial. (year) ‘chapter title’ in editor name or names (ed.) or (eds.) book title town or city of publication: publisher pp.first-last page number of chapter 4.For articles in journals, the following format should be used: Willmott, H.C. (1984) `Images and ideals of managerial work' Journal of Management Studies 21(3):349-368 Surname, initial. (year) ‘article title’ journal title volume(issue):first-last page number of article The title of the journal should be italicized, bold or underlined for emphasis. 5. For newspapers, the format is similar to journal articles, but you must also include the day and month of publication. For example: Ryle, S. (1997) `It makes you sick, this restructuring' The Guardian 22nd April pp.24 The title of the newspaper should be italicized, bold or underlined for emphasis. 6. For conference papers, you should use the following format: Brewis, J. (1993) `Foucault, politics and organizations: (re-)constructing sexual harassment' paper presented to the 11th Standing Conference on Organizational Symbolism EADA, Barcelona, Spain, July Surname, initial. (year) ‘conference paper title’ paper presented to the conference title conference organiser, town or city of conference, country of conference The name of the conference should be italicized, bold or underlined for emphasis. 7.If you use material from the Internet, the web page should be listed in the bibliography with title or author (where available) of the relevant piece first. You need to make it clear that this is an online source and the URL address and the date on which you accessed the page should also be included in the citation. For example: Fryer, P. & J. Ruis (2004) What are Fractal Systems? A brief description of Complex Adaptive and Evolving Systems Available online at: http://www.fractal.org/Bewustzijns- BesturingsModel/Fractal-systems.htm (accessed 07.03.05) Surname, initial. (year) web page title Available online at: http://web address (accessed date) In your text, a citation from the internet should follow the same rules as any other, but it might not be possible to provide a page number for direct quotations. For instance: One definition of a fractal system describes it as “a complex, non-linear, interactive system which has the ability to adapt to a changing environment” (Fryer & Ruis 2004) could equally apply. 8. For television programmes, the following format should be used: For a single programme: Under the Sun (1998) `What sort of gentleman are you after?’ Scores Associates/BBC Bristol, 1 programme (45 minutes) 7th January, director: J. Treays Name of series (year of transmission) ‘name of programme’ producers, clarification that it was a single programme (length of transmission) date of transmission, director: director’s name For a single programme that is not part of a series, you must emphasize the name of the programme and use that upfront. For a series: Vice: The Sex Trade (1998) London Weekend Television, 3 programmes (180 minutes), director: J. Phillips The format here is similar to that for a single programme, except that there is no reference to the names of any individual programmes or to dates of transmission. 9.For unpublished work, such as a report or dissertation, the following format should be used: Baker, S. (1997) Bullying at Work unpublished BA Business Studies Student Dissertation, University of Portsmouth And finally ... To get a really good mark for a written assignment, your work will have many of the following characteristics: • It will answer the question which has been set,· • it will demonstrate understanding of the main facts and issues,· • There will be signs of wide reading so that the coursework demonstrates unusually broad knowledge of the subject,· • There will be insight into the difficulties of the subject and how different aspects interrelate,· • There will be evidence of critical analysis,· • It will demonstrate an ability to structure writing in a lucid and coherent way,· • It will show an ability to step outside the confines of the programme without loss of relevance,· • It will follow accepted conventions of grammar, usage, style, spelling and punctuation – please also make sure that you change the language on your spell checker to English (UK) if it is set at English (US),· • It will be clearly expressed,· • It will follow the correct bibliographical conventions,· • There will be originality of thought and, where appropriate, argument.

Essay Sample Content Preview:

Agency Theory versus Stakeholder Theory
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A business is usually made up of different stakeholders. These include clients, shareholders, employees, vendors, the public, and management among others. Understanding the relationships that exist among these stakeholders is complex and hence problematic. Some of the problems in business are as a result of clashing business interests. The agency theory and stakeholder theory are often utilized to demonstrate the interests of the various stakeholders. While the agency theory mainly focuses on the interests of the agent(s) and the principal(s), the shareholder theory acknowledges that more parties are involved in a business.
Agency Theory
Agency theory describes the problems that emerge when one party (agent) represents another (the principal) in business but the two hold different viewpoints. As the agent acts on behalf of the principle, he/she may disagree on the best course of action (Madison, 2014). The conflict between the two parties will be an agency problem. The agent may allow personal interests to interfere with the outcome of the whole process. When the agent acts in self-interest, this will cause a major conflict with the principle. In simple contracts, self-interest may not be a major problem, since there is only one principal and one agent. However, in a limited-liability, there are many principals (shareholders) and agents (directors) (Petra, 2005). This means that the interests of the two groups will rarely be homogeneous. At the same time, as the company grows, power shifts to the directors who are tasked with making major decisions about the company. The shareholders may have little control over the business which may cause some directors to abuse their position.
Since the agency theory majorly focusses on the interests of the shareholders, several measures can be taken to address the agency dilemma (Chen, 2010). The first one is demanding that the directors adhere to transparency and the demands for reporting. Since the directors are involved in the decision-making process of a business, they need to be transparent and offer accurate reports. Secondly, the directors are mandated to adhere to accountability and audit. The shareholders should be able to audit the company to determine whether or not the directors are acting in the best interests of the company. Thirdly, a firm should follow company law, listing rules, and all the other legal requirements. These requirements are critical in ensuring that shareholders get a return from their investment. Lastly, the directors should be subject to corporate governance codes and principles. All these measures are required to ensure that companies perform their duties in a manner that is accountable to the shareholders, while at the same time doing it in a socially responsible way.
Stakeholder Theory
Stakeholder theory considers the composition of the organization as the collection of all individual groups. It takes together the interests of the various groups in an organization and collectively terms them as the will of the entity (Harrison, Freeman and Abreu, 2015). Where possible, all business decisions should be sensitive to the interests of all the stakeholders for cooper...
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