Oliver E. Williamson quote ✍️

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Managerial discretion can take many forms, some very subtle. Individual managers may run slack operations; they may pursue subgoals that are at variance with corporate purposes; they can engage in self-dealing.

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Often perfumed powder
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Hint 1 meaning
A soft mineral of a soapy feel and a greenish, whitish, or grayish color, usually occurring in foliated masses. It is hydrous silicate of magnesia. Steatite, or soapstone, is a compact granular variety.
Hint 2 anagram
LTAC
Hint 3 another clue
BABY DOCTOR FOR SHORT
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