Agency problems and its solutions Essays

Agency problems and its solutions Essays Agency problems and its solutions Paper Agency problems and its solutions Paper Agency problem and its solutions Introduction Principal-agent relationship occurs when a principal contracts an agent. The principal hires the agent to perform a service for him or to act on his behalf. For example, in a large corporation, shareholders would hire managers to help them to organize the company in dairy business. However, agency problems may arise because Of the conflict interest and asymmetry information between principals and agents, which lead to agency costs. In this essay, would like to use the agency theory introduced by Jensen and Neckline (1976) to analysis that to What extent that agency cost would damage shareholders wealth mastication and what actions shareholders could take to correct it. Agency problems and main causes of First of all, there might to conflicts of interest or different goals between principals and agents, the agent would act as their best self-interest but not principals. Secondly, there is asymmetry information been principals and agents, managers may have more information than principals or they could hide their actions. Thirdly, there is uncertainty in the outcome. The outcome may not just depend on managers effort but also other factors like good luck or high arrests expectation lead to increase in share price. Agency costs Agency cost incurred when the managers do not attempt to maximize fir-n5 value and the cost to monitor manager and constrain their behaviors. Agency cost is the sum of three types of costs, cost of designing the contract, cost of enforcing the contract (monitoring and bonding) and residual loss if contract is not optimal. Solutions of agency problems Monitoring Management compensation Incentive compensation There are two major principal agent model, adverse selection and moral hazard. Adverse selection occurs when one of the parties, usually the agent, has better relevant information prior to the contract. This hidden information will be used opportunistically to optimize the utility gained from entering the contract. In moral hazard the principal is unable to observe the agents actions after signing the contract. This causes the agent not to take the full consequences of his actions and thus he can use this hidden information to act opportunistically and maximize his own profit. In most cases the principal will have to carry the costs of this behavior.

Screenwriting Process Essay Essays

Screenwriting Process Essay Essays Screenwriting Process Essay Essay Screenwriting Process Essay Essay Art is a fun hobby or career that many have decided to enter. Many have chosen the art of screenplay writing, known as screenwriting, to make a living on. This is a relatively understood process that most writers feel as if they have the upper hand on, but most still need help in writing one themselves. Screenwriting can be tricky, strict, demanding and above all creative; however it still has many positives about it. The benefits of the difficult, creative venture of writing a screenplay become obvious through the enjoyment of the process, personal fulfillment and the financial rewards. At the beginning of writing this project, you must choose which style you would like to write. The main two styles are free-hand or with computer software. The software is the best choice, since the screenplay will have to be eventually converted to a computer at some point. Once you have found and installed screenwriting software, such as Final Draft, you then will open the program and create a new file. This file will be your story. Title it whatever you desire. Then you will get starting writing. The writing ideas that are thought up are very important. It is the whole premise for the story. First you must first think up the plot, which is namely the thesis of the story. All of the writing is connected around it. Many people have a tough time with this, but there are many areas where you can get help. You can go to the bookstore or a library and find a book that helps you creatively, by showing you ways of brainstorming up ideas about your story. This way is a good way, but not as efficient as flat out raw creativity. Next step is coming up with the characters. They are the people that act out in events in the story. Without characters in a story, the story would not work at all, it would only bore the audience so much that you would become unpopular fast. They must also progress throughout the story. To come up with characters, you can just pick out random names and put them together making names. You can just creatively come up with them. Also, you can feed off your plot and feel out what good characters names would mesh well with the plot. Deciding the setting is the next step in writing a screenplay. The main setting gives us a good locational vibe about the story, but the story can normally turn into many different settings. This can only enhance the screenplay, making it more entertaining. Your decision in the setting has to be a smart one that makes believable sense, because otherwise the story would give off an uncanny feeling that no one would understand. This would only hurt you and your story. The more realistic, the better it is. The next step is the most creative part of the process. It is the writing itself. This is where you must brainstorm ideas that are relative to your plot, characters and setting. You must write them all coming together to start off in a good light and you have to come up with ideas that help the story’s progression. Once you have established that, you have a good part of the art of writing complete After all of those steps are completed, you next start the big event of editing. You now go through the whole story and find any errors, erroneous details, punctuation or grammar mistakes and many other possible flaws in your story. Editing takes a long time and can sometimes even take longer than the writing itself. It is very important however, because being human we make mistakes.

Bottling it Through Not ''Bottling it '' Essay Example | Topics and Well Written Essays - 1750 words

Bottling it Through Not ''Bottling it '' - Essay Example Through the analysis of the case study of Ecobot, this paper will highlight how a negative culture can affect an organization adversely. Moreover, it will analyze the steps that an organization can adopt in changing culture, and enumerate the effects of adopting a positive culture. Four Main Types of Culture Charles Handy described four types of culture that are common in many organizations. A culture is an important aspect in determining the efficiency of an organization. Culture denotes all the norms, beliefs, practices, rules, values and ideals that an organization esteems and holds. A culture helps an organization get its activities going. Each organization has a unique culture that works best for it. Some organizations may have multiple sets of cultures evident in their behavior. Cultures may exert positive or negative effects on an organization depending on the practices, belief systems, and behavioral patterns of the culture. One of the main types that Handy described is the r ole culture (Bhattacharyya, 2010:58). In this culture, each employee in an organization has a title that describes his or her job. The basis of this culture is the fact that an organization comprises a set of various roles that must exhibit logic and ascertain that the activities of the organization run efficiently. Each individual in the organization has a set of job responsibilities and requirements that define the company’s expectations from the individual. It is worth noting that these responsibilities match the field of expertise of the individual. Within the role culture, communication occurs via memoranda that address each of the job titles. Role cultures require effective management and clear-cut definitions of what the organization expects from a job title and job evaluation. Moreover, this culture presents a situation whereby the level of authority depends on the current job titles. The second type of culture is the task culture. This involves the formation of focus groups that comprises members with certain talents and resources. The organization assigns a task or project to each of the focus groups. This type of culture requires that the team function closely, handling the problems in their project and easing the difficulties that are beyond individual scope (Bhattacharyya, 2010:58). The focus groups often have team leaders rather than managers. Although it proves quite expensive, it can produce remarkable results if there is cooperation in each team. In this culture, the organization pays a high level of attention to its tasks. The third main culture that Handy described is the person culture. In this culture, organizational terms may not come into use. On the contrary, this culture comprises professionals working as individuals. These individuals have a lot of experience and expertise and the organization addresses them in accordance with the level of expertise. An administration team serves the professionals making their work easier. For these professionals to take up a certain task, persuasion, bargaining and influencing are the key approaches used as opposed to management in other cultures. The fourth type of the culture described by Handy is the power culture that operates in a centralized mechanism. Its metaphorical representation is in the form of a spider’s web. This translates to the fact that those closest to the core of the culture have a higher level of influence. Moreover, the boss of the organization finds a way of influencing the views of the workers