Effective Management Essay Example | Topics and Well Written Essays - 250 words

Effective Management - Essay Example The party- the core principal which may be the local city may decide to give contracts to the contractors to do the work in accordance to the stipulated guidelines. The contracts may invoke agency problems since the contractors may fail to deliver what their principle requires. For example schools with the help of school boards may decide to contract unqualified teachers on behave of the teachers unions because of the low price that the teacher has offered. Often, the contractors will do will always do their tasks to save costs at the expense of quality of the work that they have been contracted to do. They may also fail to finish the work or do the work at their interests. Normaly, recognision of the incentives is pivotal in the effectiveness of the management. The incentives that are given to the contractors should be increased so as to act as a motivation to the contractors. This will enable them to do the work without the desire to minimize costs thus compromising the quality of the work. In class most students rated others with high and perfect score, this was an agency problem since many revealed conflict of interest as per the requirements. I think the incentive should be changed and that the perfect score should only be given when there zero