Final answer:
Bosses and supervisors are chiefly responsible for the organization's overall success, balancing the interests of various stakeholders, including shareholders, employees, customers, and the wider community. Employees should build positive relationships with their supervisors to enhance job satisfaction and capitalize on growth opportunities.
Step-by-step explanation:
The primary responsibility of a boss or supervisor is to act in ways that benefit the organization and its stakeholders. This includes the business's profit, the wellbeing of employees, the satisfaction of customers, and the interests of shareholders.
Supervisors should provide resources and support for employee development, enabling them to contribute to the organization's success. On the other end, employees are also responsible for understanding their supervisor's objectives, offering exceptional customer service internally and externally, and working cooperatively towards the broader goals of the organization.
While the theory of shareholder primacy suggests that manager's primary duty is towards the shareholders, the stakeholder theory broadens this responsibility to include employees, customers, suppliers, and the community. Managers are nowadays expected to balance these interests for the health and profitability of the business. It's also crucial for employees to foster a good relationship with their supervisor, which can influence job satisfaction, opportunities for advancement, and professional growth.