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John C. Calhoun's "South Carolina Exposition" argued that
Principals
Individuals or entities that authorize agents to act on their behalf in business transactions.
Incentivizing Agents
Strategies to motivate individuals or entities acting on behalf of others or organizations towards desired behaviors or goals, often through rewards or benefits.
Agency Costs
Expenses and losses in value occurring when there is a conflict of interest between the principals (owners) and the agents (managers) of a company.
Longer Work Days
Extended periods of work hours in a single day beyond the standard working schedule.
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