* Organizational structure + Principal*-Agent problem Principal-Agent Problem There is separation between ownership & control in most of the firm that we see today. As owners‚ shareholders appoint managers to make decisions for the company. There is another term to describe relationship between them. Shareholders are the PRINCIPAL that appoints the manager (AGENT) to act on the shareholders’ behalf so that profit can be maximize. E.g. Patient-Doctor Managers-Employees
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family house in the suburbs with a white picket fence around it‚” (Leinberger). So the American dream changes with time‚ as the world changes so does the American dream. The us bureau of labor stats that out of 100 people that started working when they were 25‚ by the age of 65‚ 1 percent are wealthy‚ 4 percent have retired‚ 3 percent are still working‚ 63 percent are dependent on social security and charity‚29 percent are dead. This represents real people who will most likely never make it to the
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White-collar crime is a financially motivated‚ nonviolent crime committed for illegal monetary gain. Within the field of criminology‚ white-collar crime initially was defined by sociologist Edwin Sutherland as "a crime committed by a person of respectability and high social status in the course of his occupation". These crimes are often difficult to study as they are highly under reported hence the ’dark figure’ for white collar crimes is huge. Gary Mars expanded the concept of white collar crimes
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Name Tutor Course Date Risk Analysis Risk averters are those people who will prefer to have the tendency of carrying out their professional tasks using crude methods that potentially protect their material well-being. On the other hand‚ the risk neutrals are the individuals that do not prefer their personal interests or that of others in a certain venture. Lastly‚ the risk seekers are those persons that will always take a decision that do not harm or present negative effects on others‚ although
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White Collar crime has been Identified by Edwin Sutherland as “A crime committed by a person of respectability and high social status in the course of his occupation" Since technology has come into play many issues have come to surface and the crime rates have increased causing one particular branch of white collar crime known as computer fraud White collar crime: Computer Fraud White Collar crime has been Identified by Edwin Sutherland as “A crime committed by a person of respectability
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Crime‚ a violation of the law‚ has been around for centuries and dates back to the colonial days. Crime is also known as a form of deviance which is a word used to describe breaking social norms. If someone violates the laws they have to face some sort of consequence that can range from a minor consequence such as a ticket up to a major consequence such as the death penalty. The punishment someone receives always fits the crime that they have committed‚ right? In some cases yes but in others no.
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White Collar Crimes: Types and Reaction to it Introduction: White-collar crime is crime committed by a person of responsibility and high social status in the course of his or her occupation. It differs from conventional crime in that the victims may be unaware of the crime and the offender may not view himself as a criminal. White-collar crimes are committed by the affluent‚ “respectable” people in the course of their daily business activities. These are organized crimes because they are
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DUTIES OF AGENT TO PPRINCIPAL Agent’s duty in conducting principal’s business 164. An agent is bound to conduct the business of his principal according to the directions given by the principal‚ or‚ in the absence of any such directions‚ according to the custom which prevails in doing business of the same kind at the place where the agent conducts the business. When the agent acts otherwise‚ if any loss be sustained‚ he must make it good to his principal‚ and‚ if any profit accrues‚ he must account
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(Sec. 211): The first duty of every agent is to act within the scope of the authority conferred upon him and perform the agency work according to the directions given by the principal. When the agent acts otherwise‚ if any loss be sustained‚ he must make it good to the principal‚ and if any profit accrues‚ he must account for it. Illustrations: (a) Where the principal instructed the agent to warehouse the goods at a particular place and the agent warehoused them at a different warehouse
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’Othello is the principal agent of his own downfall’. Discuss this statement. Othello is undoubtedly unfortunate to encounter a villian such as Iago‚ whose ingenuity and wicked nature enable him to manipulate a range of characters with a simplicity that comes natural to him. However‚ while the cunning and deceptive nature of Iago plays a central role in Othello’s downfall‚ such a spectacular tragedy would not have been possible without the primary flaws that the Moor possesses. Iago’s success is
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