Block Model Principles
Stewardship is choosing service over self-leadership. Peter block and Wilson designed models in leadership that help in embracing contemporary leadership, visionary leadership and customer driven business. Peter block developed a profound work that strikes the popular rhetoric of management illusions and current fads to see real change in the companies (Abbe, Bandeira, & Hall, 2016). Much of the enlightenment is experienced in reality more than being cosmetic. Implementation of new philosophies and concepts is lost perhaps because there is no management focus on the fundamentals. Wilson (2016) and Block (1993) presented the models for stewardship that analyzed the potential challenges and benefits that may occur while employing in an organizational setting. The block model currently work in organizational setting which is a familiar analysis of the stewardship principles (Farkas, 2016).
The principles of stewardship according to Peter Block revolve around wealth, power and purpose. He also offers a concept of stewardship as a model of real reform. Stewardship as choosing service over interest is not very easy. It is extremely well written and the model has a well presented rationale. The model deals with control, freedom, service, self-interest and governance. The model is about a harsh reality that includes the redistribution of power, wealth and purpose. It is about choice and stewardship and especially the choice of responsibility over entitlement (Fitzpatrick, 2014). It is about service and accountability.
The highlights in Block model serve as a significant model for the future of the organizations. In stewardship, the stewards is entitled to hold something in trust for another. It is the willingness to be accountable in service or in kind for the larger organization or community. Changing the system of governance in leadership requires watching, planning , evaluating and controlling actions of others. Integrating the management in stewardship requires capacity building and governance of others (Glinkowska, & Kaczmarek, 2015).
The principle of external addition is a practical method of overcoming the incompleteness of formal stewardships). This principle boils down to the fact that any control stewardship is ultimately insufficient to accomplish the tasks assigned to it, but this drawback can be eliminated due to the inclusion of a black box in the control circuit. For example, the development of a production plan based on mathematical models always requires a certain addition due to “external control” to adapt (correct) model calculations to conditions that are not formalized or due to changes in some of them under the influence of the external environment. The “external control” element is embedded in the decision making chain as a “black box”, since it cannot be precisely defined (Harrison, 2018).
Benefits of a business stewardship in corporation
The principle of stewardship indicates that control is associated with several finite paths or alternatives to the transition of the system to the final state. Understanding this principle in the study of control systems extends the concept of optimal control to optimization. This procedure is accompanied by the development of specific groups of criteria for different paths of transition from the initial to the final state. In general, the principles outlined are interrelated, complement each other and are the fundamental basis for the study of the management system (Keribin, Brault, Celeux, & Govaert, 2015).
A Block model is a scientifically based assumption put forward to explain any phenomenon or process that, after testing, may turn out to be true or false. The Block model acts as the original wording, the draft principle or the law to be opened. With the Block model put forward, an approach to solving the problem is formed, the logic and algorithm of the research is built, and a decision is made to choose an object model. The Block model is an intermediate link between the theoretical part and the empirical actions aimed at achieving a true result (James, Jennings, & Jennings, 2017).
The source of the Block model is the new facts and previous knowledge about the subject of study. A Block model is advanced when there is not enough available theoretical knowledge to explain a new fact or not at all. The goal of the Block model is, first, to narrow down the mass of possible assumptions and conjectures in solving the problem posed; second, to ensure the orientation of the research search to the expected result. The process of putting forward model is beyond the governance description. At the same time, certain rules were formulated for its formulation. The Block model is represented as generalizing and asserting judgments. If the Block model acts as a preliminary draft solution to the problem, then the bundle of problem – goal – Block model should have general concepts to be explained; 3) the development of alternative solutions to the problem is the opposition of competing hypotheses (Madison, Holt, Kellermanns, & Ranft, 2016).
In managing one of the main sources of information for hypothesizing is forecasting. We describe reality and give a forecast for the future, based on certain assumptions. They, like laws, act as the fundamental basis of research, as a reflection of the objective essence of a phenomenon.
- Stewardship of chance: there is no single recipe for optimal company management.
- The model is about the dependence on the external environment: the problems that the external environment poses to the company determine the optimal model of the behavior of firms.
Cooperation with a business can significantly affect the dynamics of business processes. A good business steward can bring a lot to the company. On the other hand, a firm can win from one boss if the stewardship is incompatible with the specifics of a particular business activity or the partner does not have the necessary skills, knowledge, skills, qualities necessary to succeed in running a business. If you are just going to become an entrepreneur, then before starting a business, it is worth weighing the pros and cons of doing business alone and with a business partner.
Efficient use of time- When you work not alone, but with a business partner, you as a team can do twice the amount of work. The process of creating and managing a firm is associated with the implementation of a large number of tasks – meetings with potential creditors, tenants, investors, drawing up business plans, and performing basic business operations (Rogers, 2015). At the initial stage, financial resources are too limited to hire assistants and secretaries, so a partner can take on some of the work. Thus, time and human resources for business development will be used effectively.
Variety of skills- The use of different, complementary skills can lead to a significant increase in productivity and success. In addition, working with a business partner allows you to distribute tasks in accordance with the strengths of entrepreneurs, saving time and eliminating duplication of work.
A side view The owner of the company needs an outside look to avoid a one-sided, one-sided opinion about his case. You may believe that you have a brilliant business idea, but the emotional component can often interfere with a sober, objective assessment. Successful entrepreneurs firmly believe in their ideas, but they also recognize that an independent opinion from the side is very valuable out of ten factors of successful business thinking on thinking differently).
Sometimes it happens that, having started his business, an entrepreneur gradually becomes sluggish, the motivation and the rhythm of life necessary in business disappear.Because of their nature, some people find it difficult to maintain discipline. In the case of stewardship, responsibility for the partner for effective performance of tasks, result, mistakes appears. Thus, mutual support takes place in the right tone (by analogy, two newcomers to the gym go to class together to keep each other motivated and disciplined).
Even if you think you know your future business partner, you may not really know his true face until he inflicts damage reputation, steals money or gets into any trouble. Lack of experience. Some partners do not have enough experience or skills to do their job successfully. When you take yourself a business partner, you expect certain results from him. A business partner who cannot provide results can slow down the development of the company or pull it to the bottom. Angry customers, overdue loans, lawsuits, problems with the tax inspectorate, inefficient financial management – a typical list of problems that may arise. # 3 Disagreements in strategy, advantages and disadvantages of business stewardships Sometimes, even working with a talented, highly motivated, competent business partner can cause problems such as disagreements over the long-term goals of the company, its development strategy, a common vision of the future of the joint business.
Conclusion
Proof (verification) of the Block model reliability becomes the main task of the subsequent research. It is carried out using experiments and for studying and processing their results by theoretical methods. The correctness of the Block model is verified by a systematic and repeated study of the relevant facts through testing (Song, Van Hoof, & Park, 2017). Confirmed hypotheses become new knowledge that can be built into a principle, a scientific law, a pattern, dependence or a method, a method, a model, etc. Unsupported hypotheses are either discarded or become the basis for proposing new hypotheses and new directions in the study of a problem situation.
References
Abbe, E., Bandeira, A. S., & Hall, G. (2016). Exact recovery in the stochastic block model. IEEE Transactions on Information Theory, 62(1), 471-487.
Farkas, G. (2016). Agent-principal problem, stewardship theory and behavioural agency model in the explanation of family business performance.
Fitzpatrick, M. (2014). From boom and bust to local stewardship: a governance benchmark for Celtic Sea fisheries management. In Social issues in sustainable fisheries management (pp. 43-63). Springer, Dordrecht.
Glinkowska, B., & Kaczmarek, B. (2015). Classical and modern concepts of corporate governance (Stewardship Theory and Agency Theory). Management, 19(2), 84-92.
Harrison, V. S. (2018). Understanding the donor experience: Applying stewardship theory to higher education donors. Public Relations Review, 44(4), 533-548.
James, A. E., Jennings, J. E., & Jennings, P. D. (2017). Is it better to govern managers via agency or stewardship? Examining asymmetries by family versus nonfamily affiliation. Family Business Review, 30(3), 262-283.
Keribin, C., Brault, V., Celeux, G., & Govaert, G. (2015). Estimation and selection for the latent block model on categorical data. Statistics and Computing, 25(6), 1201-1216.
Madison, K., Holt, D. T., Kellermanns, F. W., & Ranft, A. L. (2016). Viewing family firm behavior and governance through the lens of agency and stewardship theories. Family Business Review, 29(1), 65-93.
Rogers, V. L. (2015). Synergies for stewardship and governance of multiple-use coastal areas: A case study of Koh Chang, Thailand (Doctoral dissertation, Memorial University of Newfoundland).
Song, S., Van Hoof, H. B., & Park, S. (2017). The impact of board composition on firm performance in the restaurant industry: A stewardship theory perspective. International Journal of Contemporary Hospitality Management, 29(8), 2121-2138.
Order an Essay Now & Get These Features For Free:
Turnitin Report
Formatting
Title Page
Citation
Outline
