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"Les directeurs de telles entreprises, cependant, étant les gestionnaires plutôt de l'argent des autres que de leur propre argent, on ne peut guère s'attendre à ce qu'ils le surveillent avec la même vigilance anxieuse."

Adam Smith

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Simplified Meaning:

When people are in charge of managing other people's money, they usually don't care for it as much as they would their own money. Imagine you lend your car to a friend for a week. They might drive it carefully, but they probably won't be as concerned about every little scratch or noise as you would be. This is because it's not their car, so they don’t have the same level of personal attachment or worry. In the same way, managers at big companies might not be as careful with the company’s money because it’s not their own money. If they make a bad decision, they don’t lose their personal savings, so they might take more risks or not pay as much attention to details. For someone running a business or even managing a team, it’s important to foster a sense of ownership and responsibility, so everyone feels motivated to take good care of the resources, as if they were their own. This means setting up systems of accountability and encouraging a culture where everyone watches out for the company’s best interests.

Related tags
Accountability Corporate governance Corporate responsibility Directors Fiscal responsibility Investment management
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