“What Do Firms Try to Maximize‚ if Anything?” Introduction Do firms really maximize profit? This question has been under debate since the 1940s and 1950s‚ when a wide number of mainstream neoclassical economists defended the assumption against a group of institutional economists that questioned the assumption as the norm in the industry. On the side of the neoclassical economists were Fritz Machlup and Milton Friedman‚ with institutional economists Richard A. Lester and Garnder C. Means opposing
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E-commerce and CSR issues In the words of Alejo and Joan (2005)‚ regarding E-commerce and its Corporate social responsibility issues‚ “Reality is virtual‚ virtual reality-the reality that exist in the form of bits and bytes activated by electromagnetic energy and made powerful by IT and the internet-has changed the way we relate to one another. It has also revolutionized economics and business”. The authors state that while e-commerce‚ the sale of goods over the internet‚ has boosted online
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Photo Gallery • Workshops o Cybercrime Workshop o Health Care Workshop • About o About GGC o Educational Projects o Partners and Affiliates • Contact Paper 4 - Working Capital Management and Firm Performance Working Capital Management and Firm Performance: An Analysis of Ghanaian Oil Marketing Firms Solomon Kwasi Kyei University of Ghana Business School solokyei@ymail.com Purpose: Businesses face ever increasing pressure on costs and growing financing requirements as a result of intensified
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with how management accounting discipline has been used in the law firm of Messrs Majanja Luseno Advocates‚ where the writer is an Associate Advocate‚ towards achievement of the Firm’s objectives. 2.0 History of the Firm Majanja Luseno Advocates was founded in the year 2008 and is one of the fastest growing law firms in Nairobi with two partners‚ four associate advocates‚ six legal assistants and five support staff. The Firm provides an array of legal services to a wide client base that includes
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competitive advantage ( see for instance Barney‚ 1991 and Peteraf and Barney‚ 2003). First‚ this model assumes that firms within an industry (or within a strategic group) may be heterogeneous with respect to the bundle of resources that they control. Second‚ it assumes that resource heterogeneity may persist over time because the resources used to implement firms’ strategies are not perfectly mobile across firms (i.e.‚ some of the resources cannot be traded in factor markets and are difficult
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Business – E-Commerce Since the introduction of the Internet in the 1950’s‚ development of technology began for use by the military until it was soon introduced to the public for commercial and private use. Throughout the decades ever since‚ technology was then on the road to sudden rapid expansion‚ with a big boom in new hardware‚ software and internet capabilities such as faster computer speeds‚ faster internet connections and efficient software. Convenient services appeared such as E-Commerce (or Electronic
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Dublin‚ Ireland‚ May 16-18‚ 2001 QUANTIFYING CUSTOMER SATISFACTION WITH E-COMMERCE WEBSITES Hubert Graja and Jennifer McManis1 Abstract E-commerce is an increasingly significant part of the global economy. Users of E-commerce Web sites often have high expectations for the quality of service‚ and if those expectations are not met‚ the next site is only a click away. A number of performance problems have been observed for E-commerce Web sites‚ and much work has gone into characterising the performance
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Being a Fortune 500 company‚ Amazon‚ started by Jeff Bezos in 1995‚ is the global leader in e-commerce. Amazon offers a wide variety of products‚ ranging from hardcover books to jewelry to electronics‚ as conveniently as possible to its customers (About Amazon‚ 2009). Although Amazon has begun to revolutionize retailing‚ the company’s competitive advantage and evolution has been put into question. The competitive advantage and evolution of Amazon can be analyzed by determining if the company if moving
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personal information. E-commerce has created many new ways for customers to make payments including e-cash‚ e-cheques‚ and e-wallets. In the 21st century‚ many organizations worked hard at securing communications and payments made through e-commerce transactions. In doing so‚ customers would be able to feel a sense of trust‚ confidence and assurance that their information is safe. Many technological developments are being tested and today even implemented through that very system‚ of e-payments. Already
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the home. IKEA opened its first furniture showroom in Sweden in 1953‚ and now has over 345 stores in 26 countries worldwide. As the importance of online presence grows‚ IKEA has also launched over 13 successful e-commerce websites in many parts of Europe‚ UK and the US. It is undeniable that a core reasoning for their continued success is due to their unique business and e-commerce model and solid core values‚ which will be discussed further in this report. IKEA’s E-business Model IKEA’s Target
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