What Do Economists Call the Situation Where a Hired Manager

question 209

Multiple Choice

What do economists call the situation where a hired manager does not have the same interests as the owners of the business?

• A)conquest and control
• B)a financial problem
• C)a principal-agent problem
• D)a financial intermediary problem

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Definitions:

Exploitative Innovation

Innovation focused on refining existing products, services, or processes to enhance efficiency and effectiveness.

Decision-making Model

A conceptual framework that outlines the process of making a decision, guiding an individual or group through identifying a problem, generating alternatives, and selecting an option.

Organizational Structure Innovation

The process of redesigning an organization's structure, roles, and processes in innovative ways to adapt to changing environments, improve efficiency, and foster growth.

Process Innovation

Refers to significant improvements in the way an organization conducts its business, aiming to achieve better efficiency, effectiveness, and performance.