I assume you are talking about delegation.

The unique purpose of shareholders is to maximize their earnings.

For all known reason, the cost for them to do their job may be too high to sustain.
That's why they elect a group of person to do their job----the board of directors.

Those guys don't have ownership, but with delegation, they could take necessary action to optimize entity's income.
The upper process may be called delegation.

There is the other level of delegation involved.
The board of directors also find it is too hard to do their job,
so they will hire a group of talents to implement strategy.

Yes, this level execution normally is more concrete, specific and hard to handle.
The mechanism to make sure that senior managers won't hurt owner's interest is governance, which is hard to evaluate in real world.

Just my understanding.
What's your opinion?
Would you like to share yours with us?
Thank you buddy.

pretty cool, thanks for your suggestion~

知道了

在特定条件下的，委托管理。