Description
To prepare for this Assignment, review this week’s Learning Resources as well as any additional sources of your choosing. Conduct research to identify theorists who developed theories related to global supply chain management and compile key information as part of your review (see below). One example, is the Eli’s Goldratt’s theory of constraints. Other examples might include the transaction cost economics (TCE) and resource-based view (RBV) theories. The intent of this Assignment is to familiarize you with theories that you will find helpful as you complete your presentation and your Week 7 Assignment.
By Day 7
Submit an evaluation of at least three foundational theories in the form of a properly formatted, APA-compliant taxonomy table. For each of the theories you select, you should include the following:
- The name of the theory
- The year the theory was introduced
- The theorist/author
- Key components of the theory
For each theory presented, be sure to include at least one theorist’s seminal reference and one reference from a peer-reviewed, scholarly journal. Be sure you use these as appropriate in-text citations as well.
Explanation & Answer
Attached.
Running Head: THEORIES OF GLOBAL SUPPLY CHAIN MANAGEMENT
Theories of global supply chain management
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THEORIES OF GLOBAL SUPPLY CHAIN MANAGEMENT
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Theories of Global Supply Chain Management
The Agency Theory
The Agency Theory was introduced in the year 1970 as a derivation from the institutional
theory and economics. The theory ownership has been claimed two individuals, raising a
controversy as Barry Mitnick and Stephen Ross are claiming it. According to (Ballwieser et al.,
2010), Ross as part of the ownership claim since he gave an introduction to the description of
agency in line with the compensation contract problems making the agency to appear as a
problem of incentives. Both Mitnick and Ross studied at the University of Pennsylvania. Over
time, the theory has evolved with many theorists contributing to the molding process of the
theory over time.
The agency theory is one of the contemporary theories that tend to expound on the
relationship existing between the agents in a business and the principles. The theory manages to
solve the problems that do exist in many agencies due to the absence of proper alignment of the
different aversion levels as well as the goals. In most cases, the finance agency relationships
occur between the executive of the companies and the sh...
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