A. FIRM AND ITS OBJECTIVE: Conventional theory of firm assumes profit maximization is the sole objective of business firms. But recent researches on this issue reveal that the objectives the firms pursue are more than one. Some important objectives‚ other than profit maximization are: (a) Maximization of the sales revenue (b) Maximization of firm’s growth rate (c) Maximization of Managers utility function (d) Making satisfactory rate of Profit (e) Long run Survival of the firm (f) Entry-prevention
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Why are objectives so important and how do we define and refine them? Objectives can be defined as a mission‚ purpose‚ or standard that can be reasonably achieved within the expected timeframe and with the available resources. In general‚ an objective is broader in scope than a goal‚ and may comprise of several different goals. Objectives are the most basic planning tools underlying all planning and strategic activities. They serve as the basis for policy and performance appraisals‚ and act as
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Strategic Management The Concept of Market Position and The Strategic Objectives Objectives The Concept of Market Position Philip Kolter Ries and Trout The Strategic Objectives Strategic Thrust Strategic Objectives Build Hold Niche Harvest Divest The Concept of Market Position by Philip Kolter Market Leader Market Challenger The firm has a relatively large share of the market‚ but a smaller share than the market leader. Market Follower The firm
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The use of Websites and blogs as a tool for estabilishing better learning outcomes. ABSTRACT Internet Websites and Blogs (also known as Digital Learning Environments)‚ which are two new development technologies that provide better teaching-learning environments‚ interactive and inter-creative engagements for teachers and students‚ were not very common until recently‚ however‚ these technologies have taken a great role in the world of education and have become more dominant and widespread among
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Objectives of Firms Introduction to Business Objectives Standard theory assumes that businesses have sufficient information‚ market power and (importantly) motivation to set prices for their products that maximise profits This assumption is now heavily criticised by economists who have studied the organisation and objectives of modern-day corporations. Not only do most businesses frequently move away from pure profit-seeking behaviour‚ many are organised and operated in a way where profit is not the
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Description (per catalog) “This course integrates concepts from CBM core courses to study key issues facing top managers and management teams. Students will analyze industry environments‚ evaluate sources of competitive advantage and develop business and corporate level strategies using case studies”. Course information: Prerequisites: All college core courses and within 12 hours of graduation or during the student’s last semester. 3.000 credit hours. Required Text & Materials 1. Textbook:
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In this paper I will analyze the three tools the Fed uses to influence the direction of the economy. I will also briefly discuss what the Fed should do to get the economy out of a recession. The United States economy has been in a recession for a while now. It appears that the United States govern body has spent a lot of time fighting and disagreeing at the extent of the tax paying citizens. The Federal Government uses three policy tools open market operations‚ reserve requirement‚ and discount rate
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Processing) is used for business reports for companies using a number of protocols. Organisations can analyse data in a number of different ways i.e. budgeting‚ planning‚ data warehouse reporting‚ simulation and trend analysis. One of the main benefits of OLAP is the skill to make multidimensional calculations especially used for large businesses. This process will be complete in seconds There are many components of OLAP tools. In this report I will discuss and compare four OLAP tools and identify there
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performance management? Objectives that are SMART (Specific‚ Measurable‚ Aligned‚ Realistic/Relevant‚ and Time-bound) are likely to be achieved. When generic‚ off-the shelf objectives get the SMART treatment‚ they emerge as targets that engage focus‚ action‚ feedback and learning. These targets assist development of individual work plans‚ and also provide a guidance system for supervisor-staff performance review discussions. How Do You Write a SMART Objective Statement? First‚ you must
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vital for everyday life. There are many different contexts and segments of communication. Including aspects that shape and form how each one of us communicate. Our culture and others have helped shape how we communicate. Obtaining communication tools start when we are first born and then are compiled together‚ to form how each person communicates. One of the biggest ingredients of ‘communication formula’ is self- concept and self -perception. Both self-concept and self –perception play a
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