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Other than with owners, what are the types of business agency relationships?

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"As a top executive, the only agency relationship I am concerned about is the one between myself and the firm's owners. I think that it would be a waste of my time and energy to worry about any other agency relationships." What are these other agency relationships? How do you respond to this person? Do you accept or reject this view? Support your position.

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The agency relationships this "poor" executive missed are those with vendors, suppliers, employees, other executives, and most importantly, the consumers of the product or services provided by the company.

The vendors and suppliers are those that supply what the company needs to perform the jobs and being aware and concerned is important to make sure the company is getting fair price and good quality materials.

The employees perform the work and like other executives, keep the named executive in his ...

Solution Summary

A discussion on business agency relationships is based on the question posed. Pitfalls of only considering relationship between self and firm owners are identified. This solution is 329 words.

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