INSTITUTIONALIZATION OF STEWARDSHIP IN CONTEMPORARY ORGANIZATIONS

Najla Podrug () and Marija Sutalo ()
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Najla Podrug: Faculty of Economics and Business-Zagreb

Economic Thought and Practice, 2011, vol. 20, issue 2, 527-542

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.

Keywords: stewardship theory; managerial stewardship; stewardship model; traditional model; principles implementation (search for similar items in EconPapers)
JEL-codes: M19 (search for similar items in EconPapers)
Date: 2011
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