Essays Tagged: "Profit maximization"
J.C.H Jones's article 'The Economics of the National Hockey League'
toexplain through simple micro economics that the prime motive of professional hockey team ownersis profit maximization. The owners argue that their main interest is 'for the love of the game,' not th ... lain the behaviordescribed by Schofield, number two being developed by J.C.H. Jones (1969). (1) The profitmaximization hypothesis. (2)The joint profit maximization hypothesis that the entire cartel (l ...
Subjects: Humanities Essays > Health & Medicine > Sports
Describe the 2 views of Corporate Social Responsibility.
one extreme is the classical view that states business is an economic institution directed towards profit whose only responsibility to society is to provide goods and services and to return maximum b ... is to operate the business to satisfy the interest of shareholders, and this interest of course is profit maximization (Robbins et al., 2003: 136). At the other extreme, there is the socioeconomic vi ...
Subjects: Businesss Research Papers > Management
Economics Theory and Crime. Why do criminals commit crime. Why is law enforcement failing in the war on drugs.
d and applied to every aspect of life, even crime. The article explains that crimes which have high profit maximization such as stealing and drug dealing need laws to reflect punishments that hit the ... ing said, laws don't need to make it impossible for people to commit crimes, they need to make it unprofitable.Economic analysis can also be used to "help us understand organized crime." Often the med ...
Subjects: Social Science Essays > Economics
Profit Maximization / Maximization of Shareholder Wealth
ons should be to maximize shareholder wealth on the whole. If management was to only concentrate on profit maximization, they would more than likely run their corporations into the ground. The very ex ... management could be reluctant to make the merge. This could be the case in a main goal of personal profit maximization. Without the merge, the company could lose steam and competitiveness and shareho ...
Subjects: Businesss Research Papers
What do you understand by the term least-cost solution and in what sense is it a "solution"?
an ultimate solution.The term can be introduced in the context of a firms aim and objectives e.g. "profit maximization". In many cases firms may have other objectives such as providing quality to cus ... o focus on providing efficient services. Occasionally firms abide by aims and objectives other than profit maximization to encourage and enhanced operational techniques and image.Ultimately most firms ...
Subjects: Social Science Essays > Economics
Outline and assess Penrose's 'Theory of the Growth of the Firm'
he firm were based around models that assumed a static industry, where thee firm is assumed to be a profit maximiser and in its simplest terms, has an industry equilibrium at a profit-maximizing level ... theory of the firm is based on the idea that firms are rational and follow the single objective of profit maximization as individual owners are greedy and desire only money. This theory shows that fi ...
Subjects: Businesss Research Papers
Ethics in business Importance of ethics in business? Is it a priority?
organization must respect and regard their social and ethical responsibility as well as maintaining profitability as a central goal. We do believe that good ethics is good business since nowadays it d ... uppliers and customers expect and persevere business relationships that are upright and responsible.Profits aren't Paramount. 19/36 Profits are significantly important for the survival of a fir ...
Subjects: Businesss Research Papers
Research paper on the wage gap in the United states, and class struggles from the underclass with sources included.
ided in the office, and his only endeavor was the capitalist driven self-interest of cold economics profit maximization; meanwhile the latter was left to toil in the monotony of the machines. These ne ... titled Executive excess 2005 they discuss how lucrative it can be for the upper class to become war profiteers while America's young men and women from the lower classes become maimed, scarred mentall ...
Subjects: Social Science Essays > Economics > Economic History
Corporate Responsibility
orate responsibility: the narrow view and the broad view. These views consider issues based on mere profit maximization and "community service".First, let us examine the "˜narrow' view of c ... bility. It aims to prove that businesses have no social responsibilities other than to maximize its profits of its shareholders. Here we see freedom defined in contractual relationships that exist wit ...
Subjects: Businesss Research Papers
No Team Work At Disney?
has to do with the fact that he was paranoid about success and therefore was only interested in the profit maximization. Very often decisions taken by Eisner were controversial to Disney's culture exi ... atisfaction of customers needs was the main priority in the company. As one of the ways to increase profits Eisner saw in mass production. A project would only continue as long as it was generating pr ...
Subjects: Businesss Research Papers > Case Studies
MacDonald strategy
are multidimensional. Therefore, like individuals, they too cannot be judged by a simple measure of profit maximization. They are viewed not only as wealth-creators for their legal owners (their equit ... . They are expected to meet the diverse expectations of all their stakeholders. While earning their profits, they must conduct themselves righteously, upholding social norms and keep in mind the well ...
Subjects: Businesss Research Papers > Case Studies
Explain the types of organizational change and the process of organizational change. Which are the most efficient methods of managing changes?
s necessary force which is puling management for smaller or bigger changes in order to maximize its profits. Moreover, there are varieties of environmental factors which can influence demand for the c ... s for certain changes from different points of view. Therefore, the most common change is result of profit maximization and headcount reduction what usually is product of new organisational strategy. ...
Subjects: Businesss Research Papers > Management
Social Responsibilities of Corporations
of Business Corporations: Do Corporations have Social Responsibilities that Extends much Beyond the Profit Maximizing Concept? Introduction In the early 20th century, business firms were predominantly ... uction In the early 20th century, business firms were predominantly concerned with maximizing their profits. However, in the 1970s, social activists began to question business enterprises? singular ob ...
Subjects: Businesss Research Papers > Management
Normative Ethics: Utilitarianism and Deontology: Module 1
of business in society. Some philosophers argue that the sole purpose of a business is to increase profitability and shareholder value (Bottorff, 2002). They contend that those companies that place p ... ity. They define social responsibility as the management's acceptance of the obligation to consider profit, consumer satisfaction, and societal well-being of equal value in evaluating the firm's perfo ...
Subjects: Businesss Research Papers > Marketing
Shareholder Concept versus Stakeholder Concept: The Impact of Corporate Social Responsibility on Profit maximization
nal code of conduct42.1.2.Corporate Social Responsibility (CSR)62.1.3. The Stakeholder theory:82.2. Profit Maximization102.2.1.Profit maximization: a technical and behavioural perspective102.2.2. Shar ... ehavioural perspective102.2.2. Shareholder theory of profit maximization:122.3. Business Ethics and Profit Maximization: A Relationship142.3.1. The impact of business ethics and CSR on profit maximiza ...
Subjects: Businesss Research Papers
The Invisible Hand
tury later, the principle of capitalism." Private vices make public benefit.” Blind and greedy profit-seeking, Mandeville laid down, advances the public good through the invisible hand. In terms ... e basic weakness of modern society and modern economy. This by the way is why the rhetoric of “profit maximization” and “profit motive” are not only antisocial. They are immoral.It ...
Subjects: Social Science Essays > Economics
Are Socially Responsible Corporations More Profitable?
rther investment into CSR undermines corporation fiduciary responsibility to shareholders: ensuring profit maximization. The question then becomes, do firms that implement CSR into their business mode ... oregoing capital) realize incremental value relative to those firms that choose not to expend their profits on CSR initiatives? Further, can this value be translated into tangible financial metrics th ...
Subjects: Businesss Research Papers
Market Structures Simulation Analysis
ersity of Phoenix, 2009) This paper will explore strategic variables best suited to sustain company profits through the years of monopoly and thereafter, as market structure changes.Solution to Sustai ... Neutron and monopoly indicates the best strategy is MC = MR rule. A price of $2,550 is where total profit equals 1.29($bn). With no suitable substitutes, advertising is a key decision throughout the ...
Subjects: Social Science Essays > Economics
Group report about manufacturing strategy in supply chain
o accomplish their business objectives or goals which are always associated with cost reduction and profit maximization. There is no difference for manufacturing where it has been defined as "the maki ... 3). Therefore, how to develop a successful manufacturing strategy to achieve cost-effectiveness and profitability is crucial; and it also becomes the objective of this report. By reviewing and analysi ...
Subjects: Businesss Research Papers
The salient features of Islamic economics and contrast them with those of conventional economics
others as charity. Conventional too has the similar concept but main objective is self interest and profit maximization. Hence they sometimes ignore the social factor in their trading. In fact, Islam ... s to actively engage themselves in almost every material pursuit, especially trade and eulogies the profit received as bounty from Allah. The concept of 'Halal' and 'Haram' are adequate for Muslims to ...
Subjects: Businesss Research Papers > Case Studies