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Economists and managerial Scientists in our days question that the sole aim of a firm is the maximisation of profits.
Member rating: No Rating | Words: | Submitted: Thu Nov 13 2003
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"The increased rate of merger activity both nationally and internationally suggests that many enterprises will adopt a multi-divisional internal structure. The implication of this divisionalisation must be that modern business firms are more likely to adopt goal pursuits and least cost behaviour associated with the neo-classical profit maximisation hypothesis." Many would make the basic assumption that firms are in business for a simple reason: To make money. Traditional economic theory suggests that firms make their decisions on supply and output on the basis of profit maximisation. However many Economists and managerial Scientists in our days question that the sole aim of a firm is the maximisation of profits. These economists suggest that there are a number of other objectives that are important to a business. Personal motives may be important, especially where the manager is also the owner of the firm. In this case emphasis may be placed on good...
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