In my opinion, the goal of a company needs to be thought out and planned. Each goal has its own need. The following goals are just a few a company needs to pay close attention to: Maximize wealth of stockholder, Business Ethics, Reevaluate Finical Statements, Expansion of existing products or markets, Expansion of new products or markets and Safety and Environmental projects.
Maximize Wealth of Stockholders: The managers of the company need to have the firm's common stock at the highest it can be. Managers have to keep in mind that with higher stock price or Rate of Return high will attract more stockholders to the company. If the stock price will keep the stockholders happy then the company will not have to worry about stockholders selling their stock and making their go down in price.
Business Ethics: Company attitude and conduct toward its employees, customer's community and stockholder can hurt the company substantially.
04-02366 Donald W. Douglas and David R. Davis who ...
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Journal of Business EthicsThe company needs to deal each party within a fair and honest manner. If the company doesn't treat its own employee fairly it is a high chance that employee will not be in the company long. This will result in hiring a new employee and training that person, which will result in time and money. Also this is very important with the customer who is the main source of income. It is not easy to have a customer but it is so easy to lose that customer.
Reevaluate Financial Statements: From time to time companies should look at there own financial statements. These financial statements will help them achieve a better forecast and production in the near future. An example might be if there is efficiency in inventories then managers need to boost inventory to meet demand. Or, if inventory is at high...