Final answer:
The omnipotent view sees managers as powerful agents influencing organizational success, focusing on shareholder value, whereas the symbolic view sees managers as having a limited direct impact and acting more as symbols, aligning with stakeholder theory that considers the interests of all stakeholders.
Step-by-step explanation:
The actions of managers can be viewed through two contrasting perspectives: the omnipotent view and the symbolic view. Under the omnipotent view, managers are seen as having the primary responsibility and power to directly influence the success or failure of an organization. They act with the belief that through their decisions and efforts, they can determine the organization's outcomes. According to this view, the managers' primary focus is on maximizing shareholder value, adhering to shareholder primacy where the main objective is to increase the wealth of shareholders.
Alternatively, the symbolic view posits that managers have a limited effect on organizational outcomes because many factors, such as the economy and market forces, are outside of their control. In this view, managers act more as symbols of control rather than actual agents of direct influence. This perspective aligns more with stakeholder theory, arguing that managers should balance the interests of all stakeholders, not just shareholders. Here, the role of managers includes engaging in actions that maintain employee morale and represent organizational values, akin to the insights brought by symbolic interactionism and leadership styles like Theory Y which views employees as self-motivated and receptive to organizational goals.