Consider the agency relationship between a corporate financial manager and the shareholders of the corporation.

As a corporate financial manager, you have the opportunity to manage the company's cash on behalf of its owners (shareholders.)

Consider the case of Apple, Inc, and the company's cash stockpile. The company's financial managers bear the responsibility of managing the cash reserves on behalf of Apple's shareholders.

Write a 1-2 page paper, using the following guidelines:

In the first half of the paper, research and briefly describe the concept of agency.

In the second half of your paper, imagine yourself in the role of Apple's financial management team. Describe what types of measures you would take to ensure that any decisions made with regards to the company's cash faithfully represent the wishes of the shareholders.