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. Economic responsibility, carried to the extreme, is called the profit-maximizing view. The view argues that the corporation should be operated on a profit-oriented basis, with its sole mission to increase its profits so long as it stays within the rules of the game.
Is the purely profit-maximizing view considered an adequate criterion of performance?
Can it lead companies into trouble? Use examples
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- Use the following information for questions 36-48 Transcendent Technologies is deciding between developing a complicated thought-activated software, or a simple voice-activated software. Since the thought-activated software is complicated, it only has a 30% chance of actually going through to a successful launch, but would generate revenues of $50million if launched. The voice-activated software is simple and hence has a 80% chance of being launched but only generates a revenue of $10million. The complicated technology costs 10million, whereas the simple technology costs 2million. Launching the simplified version would be a mistake for probabilities less than ___? a. 0.6 b. 0.7 c. 0.8 d. 1.014. Investment in Musical ActsSigning new music acts can be highly speculative. Record producers at music studios have to get budget approval before they sign a new act to a recording deal. Most acts perform a tried and true form of popular music in which record sales can be pretty well predicted. However, once they get approval for their budgets, why do producers sometimes sign riskier acts who either flop or “break-out†into the next sensation?Critically assess the relevance of the 'as if' principle used to justify the reliance on profit maximisation as the working objective of the modern business corporation. 'There is a simple relationship between advertising and profitability: the most profitable firms are the ones that advertise most. Therefore advertising must increase profitability.' Discuss.
- A5 what are some examples of industries that have a Sustaining Competitive Advantage like Sports Dynasties? "Nowhere is sustainability more on display than in professional sports. Sports teams that repeatedly compete for and win championships are referred to as dynasties" (Besanko et al., 2017). Besanko, D., Besanko, D., Shanley, M., & Schaefer, M. (2017). In Economics of strategy, 7th edition. essay, Wiley2. Explain and compare Scientific Management and organizational behavior theory.Which legal school of thought is illustrated in this dialogue? DONUT DAY AT THE OFFICE Part 4 Lee: Right. Inflexible rules, applied the same way every time and in every situation, are just a sign of corporate insanity. This is a company that knows how to adapt and make smart decisions based on the circumstances at hand. Remember when we found out that Allied Chemical hair gel accelerated hair growth at twice the industry standard . . . just before the hair would fall out? Remember what happened to Winfred after he tested out the stuff for us? Remember how happy Allied Chemical was with us when we figured how to market their goop anyway? The rules are made to help us, the best of the best, get what we want. We are the "enlightened" of the break room, and the rules are meant to help US get what WE want. End Part 4 Irrational forces perspective. Sociological school of thought. Legal realism school of thought. Critical Legal Studies school of thought.
- THINK IT THROUGH You are the CEO of a major corporation that produces containers for soft drinks and a wide variety of other consumer products. Your company’s shareholders are asking that you improve the company’s image—while not cutting into profits—by taking steps to reduce waste. What steps would you consider taking?Discuss why in many liability firms, the managers do not receive a fixed payment for their work, but rather they are paid according to the results (such as profits or sales).what are two examples, of companies’ respecting the rights of employees and of companies’ failing to do so.
- 5. Baed on best buy company assessment of the present value of your organization: what it would be worth in today’s market in its present state and might be worth if this strategy is successful. Please give the answer based on best buy company pleaseAnswer the case study: 1.Assess the main strategic action taken by each NOKIA CEO. What actions created enduring sources of competitive advantages? What actions ( or lack of action) contributed to NOKIA'S fast decline? 2. What decisions would you have made differently and when? Why?3. A company makes fidget spinners. They have written formulas for their revenue, R, and their costs, C, based on the number of spinners they make and sell, S: R = 4.31S C = 423 + 1.87S Determine their "break-even" point, where revenue and costs are equal 4. A different company makes dice. They have written formulas for their revenue, R, and their costs, C, based on the number of dice they make and sell, D: R = 0.65D C = 432 + 0.19D Determine their "break-even" point, where revenue and costs are equal.
