principal-agent problem
The principal-agent problem refers to a situation where one party (the principal) hires another party (the agent) to act on their behalf, but the agent may have conflicting interests and may not always act in the best interest of the principal.
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Related Concepts (1)
Similar Concepts
- authority delegation
- authority in delegation
- autocratic delegation
- autonomy in delegation
- challenges in delegating authority and responsibility
- challenges in delegation
- decision making in delegation
- decision-making in delegation
- delegation and delegation of authority
- delegation and problem-solving
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- delegation of authority
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