Assessment: Governance and Stewardship Paper Summary: Write a summative paper on seminal theories of governance and stewardship that inform effective organizational leadership in non-profit or...

Running Head: GOVERNANCE AND STEWARDSHIP PAPER    1
GOVERNANCE AND STEWARDSHIP PAPER    3
GOVERNANCE AND STEWARDSHIP PAPER
Table of Contents
Introduction    3
Analysis of Key Theories of Governance    3
Application of Stewardship Theory to Effective Governance of Balfour Beatty    4
Inspiration of Managers    5
Identification with the firm    5
Policies, roles, and requirements    5
Impact of Steward's Principle in Balfour Beatty’s Construction Business    6
Impact of leadership values and assumptions for governance    6
Role of CEO in Balfour Beatty according to Eric Stenman by Using Stewardship Theory    7
Effective Governance in Non-Profit Organisations with Stewardship Theory    7
Benefits of Steward's Principle    9
Effective Stewardship Helps Maintain Natural Resources    10
Conclusion    10
References    12
Introduction
A person who can protect and care for the needs of others is called stewardship. Stewardship is the principle of protecting the interests of the company's owners or shareholders and making decisions on behalf of the company for its benefits. The satisfaction of shareholder is the main principle of stewardship. Being a Stewardship leader, he explains the needs of shareholders for business, as well as understanding the needs of shareholders for the business of his company; he also talks to shareholders and explains the requirements for their business.
Analysis of Key Theories of Governance
Stewardship governance requires that the CEO should always be trustworthy in his organisation and think about the organisation without considering his own benefit for the well-being of the organisation. A great leader should think something different and unique to the organisation's products, customers, and goals for the success of its organisation. At the difficult times of the organisation, it determines the strategy of governance that is beneficial for its organisation, only a great stewardship leader is aware of this.
The role of the manager in the stewardship theory is to maximise the strength of the firm and to assess the collective ends to pursue long-run cash acquisition with structure and private needs. The goal is on assuming irresponsibleness and responsibility for the structure community. A manager's model ought to be in the kind of a steward whose behaviour is ordered and organisational. Steward collective behaviour could be a larger reverence than individualism, self-service conduct.
They provide an example of the actual fact that the mentor makes a logical call, not an irrational call, contrary to the proponents of the agency who oppose the disdain. Stewardship theory sees workers as immovable property. However, they take issue in the treatment of human nature's ability management and control. A real steward is impressed by its need for self-fulfilment, development, and accomplishment while not expedient and self-interested in its performance. For example surprisingly for a construction company with a servant-led centre, Balfour Beatty believes that the way business should be done. Stenman's focus has always been on the personal and business success of all its employees.
Application of Stewardship Theory to Effective Governance of Balfour Beatty    
Balfour Beatty’s CEO used nearly all theories of corporate governance focus on focusing more on personal self-interest. Stewardship theory rejects personal selfishness altogether. He is argued in the framework of the stewardship theory that people are always moving forward to fulfil tasks and responsibilities for his construction business internally (Craig, Dibrell & Neubaum, 2015). It also demonstrates that in this, people should be collective ideology instead of being an individualist. According to this ideology, Balfour Beatty governance structures ought to use advanced authority and discretion. Proponents mentioned that high-level authority and discretion happens once the corporate executive takes charge of the board's position (Kruitwagen, Madani, Caldecott & Workman, 2017).
Stewardship theory argues whether or not this issue helps the possession structure and helps within the management accomplishment of high company and firm performance. When the Eric Stenman is additionally the chairman of the board, the Balfour Beatty are going to be exposed to the current objective, to create them clear, transparent and objective role needs and to create the management more and a lot of convincing and compelling. Thus, there is no conviction on self-motivation through self-finance.
As per Joslin and Muller (2016), however, the perception of two roles is because the president, at the same time, Eric Stenman can create high results and give the highest return compared to separating shareholders. Stewardship principle always works towards achieving. Organisational, group, or social goals, because doing so gives the organisation a high level of satisfaction. Stewardship theory, therefore, provides a methodology for the inspiration of managerial behaviour in various types of organisations.
Inspiration of Managers
Under Stewardship theory, managers also seek out other methods other than financial. In these ways, their values ​​include creating a good image, doing well for the organisation, a feeling of satisfaction towards their work, and the purpose of this organisation's success. Under this principle, doing an excellent job of the manager, giving good returns to the stockholders and increasing Balfour Beatty’s profits (Koutoupis & Pappa 2018). Also, they never do this for their own financial interests because they feel a strong duty for the organisation.
Identification with the firm
Stewardship theory starts in a very different way. In this theory, it is believed that in management positions, the individual cannot be isolated...