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Principal–agent problem. Basic idea of agency theory. The principal–agent problem refers to the conflict in interests and priorities that arises when one person or entity (the "agent") takes actions on behalf of another person or entity (the "principal"). [ 1] The problem worsens when there is a greater discrepancy of interests and ...
A widely used definition is: "A conflict of interest is a set of circumstances that creates a risk that professional judgement or actions regarding a primary interest will be unduly influenced by a secondary interest." [ 2] Primary interest refers to the principal goals of the profession or activity, such as the protection of clients, the ...
Economics is the science which studies human behaviour as a relationship between ends and scarce means which have alternative uses. [ 34 ] Robbins described the definition as not classificatory in "pick[ing] out certain kinds of behaviour" but rather analytical in "focus[ing] attention on a particular aspect of behaviour, the form imposed by ...
Variable interest entity. A variable interest entity ( VIE) is a legal structure defined by the Financial Accounting Standards Board (FASB) for situations where control over a legal entity may be demonstrated through means other than voting rights. A public company with a financial interest in such entities may be subject to certain financial ...
The principle of least interest dictates how power is distributed in a relationship and how it is almost always unequally balanced. This unequal balance of power can lead the weaker person to struggle to get a grasp on some of the power. This struggle leads to a conflict between the one with the power and the one without.
Duckett is currently one of only two Black women serving as CEOs of Fortune 500 companies. And while character is an enduring virtue, the same can’t be said for our jobs. “Job titles come and ...
Workplace relationships are unique interpersonal relationships with important implications for the individuals in those relationships, and the organizations in which the relationships exist and develop. [ 1] Workplace relationships directly affect a worker's ability and drive to succeed. These connections are multifaceted, can exist in and out ...
The coincidence of wants (often known as double coincidence of wants) [ 1][ 2] [verification needed] is an economic phenomenon where two parties each hold an item that the other wants, so they exchange these items directly. Within economics, this has often been presented as the foundation of a bartering economy. [ 3]