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Table 2 Conjunction of main corporate governance theories and practices

From: The practice of commissioning healthcare from a private provider: learning from an in-depth case study

THEORIES PRACTICE
  FOCUS DYNAMICS
Agency:
Control of management; managers and owners/stakeholders have different interests; [23, 24]
Supervision of management
Risk minimisation & compliance
Monitoring of performance against targets and objectives
High challenge
Controlling
Critical style in order to achieve goals
Stewardship:
Joint endeavour with management; managers and owners/stakeholders have same interests [25]
Strategic thinking
Emphasis on improvements & excellence in performance & use of resources
Appreciative style to achieve goals
Collaborative
Resource Dependency:
Leveraging of external expertise and influence as organisation success dependent upon fit with external environment [26]
Policy formulation
Horizon scanning
Inward investment of resource and reputation
Predominantly external orientation
Management through influence
Stakeholder:
Mirroring community and society served to ensure that organisation serves its mission and purpose [28, 29]
Supervision of management
Monitoring of performance against targets and objectives
Creation of long term public value
System/ society focussed orientation
Consensual
Mindful of sectional or political interests
  1. (Source: [27])