Back in 1991 Donaldson and Davis introduced Stewardship theory in management. The theory emphasizes the role of managers in the Organization as stewards or oftentimes as caretakers of an organization’s resources.
The theory suggests that managers are supposed to act in the best interest of the company. Thereby working for the shareholders and management to maximize the welfare and drive profits in the interest of the company.
Due to the dynamic and ever-evolving business model, students aim to pursue courses in management. This has led to a gradual increase in Management assignment help services.
History of Stewardship Theory:
Proposed in 1991, as an extension to the agency theory it has been developed so that managers can act in the interest of the company.
- Approach: Stewardship theory challenged the approach that managers are selfish and greedy and fulfill their motives rather than acting in the interests of the company.
- Validation: Research findings suggest that at certain times managers exhibit stewardship behavior. Several studies have been conducted to examine the reliability and relevance of such a theory.
- Advancement: with time stewardship theory has undergone refinement and expansion as Researchers integrated it with different concepts from other management theories, such as transformational leadership.
- Criticisms: Despite its relevance, stewardship theory has not been without criticism. Some scholars argue that it oversimplifies the complexities of managerial behavior and may not hold in all situations.
Stewardship theory has been the biggest development in the field of management offering support to managers by calling them as caretakers of the organisation.
Importance of Stewardship Theory
This theory aims at promoting effective and efficient management in the organization. Students pursuing courses in this field often look out for management assessment help to excel in their academics.
- Morality and Ethics: The theory aims to promote ethical behavior among the management and shareholders. Moreover, ethical decision-making and responsible behavior among managers, as they act in the best interest of the organization.
- focus: Through this, the organization can aim to prioritize the long-term success of the company and this also helps them to remain focused and goal-oriented.
- Trust factor: When stakeholders perceive managers as responsible stewards, trust and confidence in the organization increase.
- Employee engagement: Stewardship theory often leads to higher employee engagement and commitment, as employees see the organization’s leaders as trustworthy and focused on collective success.
In Addition, it provides moral support to employees and empowers the management of the organization by providing them with their rights and responsibilities.
Application of Stewardship Theory:
There are many areas and domains that incorporate stewardship theory in their working environments. As a result aspiring students generally seek management assignment help to develop effective leadership.
- Corporate Governance: This theory forms its base for the ethical governance practices that m the organizations. It helps in aligning management with that of the shareholders and helps to develop critical thinking abilities among them.
- Nonprofit Organizations: Stewardship theory is relevant in the management of nonprofit organizations, where fiduciary responsibility is critical.
- Social Responsibility: It is employed in organizations that prioritize social and environmental responsibilities, ensuring sustainable practices.
- Public Sector: Some public sector entities adopt stewardship principles to optimize public resources and deliver value to citizens.
Many other sectors help in developing cooperation and coordination among the stakeholders in any organization for its success.
Pursuing Courses in Stewardship Theory
Many business and management programs offer courses on stewardship theory, focusing on its application in various sectors.
Students pursuing degrees in Business Administration, Management, or Nonprofit Management often study stewardship theory as part of their curriculum.
Universities Offering Stewardship Theory Courses
Many universities offer courses in management and business administration that also involves dealing with assignments.
- Harvard Business School, USA:
- London School of Economics and Political Science, UK
- University of Sydney, Australia
- Imperial College, UK
- University of Oxford, UK
- University of Chicago, USA
In addition, there are many other universities offering courses in finance and management such as London Business School, UK, Singapore University, Singapore, Wharton business school, Germany, and many others:
Challenges Faced by Students in Assignments
Students often encounter complexity in the completion of their assignments. Be it due to the time limits or the lack of knowledge of the subject matter.
- Understanding complex concepts of ethical decision-making and balancing the interests of stakeholders.
- Analyzing real-world case studies and applying stewardship principles to diverse organizational contexts.
- Synthesizing research on stewardship theory from various academic sources to support arguments.
- Ensuring assignments reflect critical thinking and demonstrate a deep understanding of the theory.
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