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Institutionalization Of Stewardship In Contemporary Organizations

Author

Listed:
  • Najla Podrug

    (Faculty of Economics and Business-Zagreb)

  • Marija Sutalo

Abstract

Stewardship, concept developed within stewardship theory, is defined as managerial commitment towards collective welfare in the way that long-term interests of organization are priority in his/her behaviour, and not his/her personal goals and interests neither goals nor interests of other individuals and groups. The aim of this paper is to define a set of principles and activities for implementation of stewardship behaviour so that sense of personal ownership and responsibility is strongly present within the entire organization, consequently resulting with long-term profitable growth. The attributes of organizational model are identified from stewardship theory perspective in comparison to the traditional model and the role of manager-steward in implementation of stewardship principles is apostrophised.

Suggested Citation

  • Najla Podrug & Marija Sutalo, 2011. "Institutionalization Of Stewardship In Contemporary Organizations," Economic Thought and Practice, Department of Economics and Business, University of Dubrovnik, vol. 20(2), pages 527-542, december.
    • Handle: RePEc:avo:emipdu:v:20:y:2011:i:2:p:527-542
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    More about this item

    Keywords

    stewardship theory; managerial stewardship; stewardship model; traditional model; principles implementation;
    All these keywords.

    JEL classification:

    • M19 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Other

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