Chapter 6: “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
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Journal 1 Brief The mind and actions of the entrepreneurship has provided an overview of the characteristics that influence the entrepreneur and shape their behaviour. The factors influencing entrepreneurship are found both internally and externally to the individual‚ comprising a combination of personality traits and environment influences. Entrepreneurs are typically characterized by strong achievement drive‚ high levels of creativity‚ a desire for autonomy‚ a willingness to take calculated
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"What I must do‚ is all that concerns me‚ not what the people think." The following aphorism describes how one should not worry about how society perceives them on a daily basis‚ but everyone should live up to their own goals and standards. Don’t worry about what other people think. You should not let someone else’s opinions stop you from achieving your goal. Now‚ I do not say it would be any easier‚ because it is easy in the world to live after the world’s opinion. But there is no reason as to why
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“College Entrepreneurs Do Good and Make Money‚” (Nickels‚ McHugh‚ & McHugh‚ 2010‚ p. 26). They are really business and success story. True college entrepreneurs will do anything possible to reach their goals by being original and innovative. They pick an idea based on the customer needs and use it to develop the plan. We have heard about several young millionaires entrepreneurs that started their business while they were still attending college‚ such as Mark Zuckerberg who launched Facebook while
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Profit vs. Not-for-Profit Organization A nonprofit organization is formed for the common good of the public. Nonprofit organizations are usually formed for some specific religious‚ charitable or educational purpose. A for-profit organization may be formed to conduct any number of lawful business activities. The primary reason to form a for-profit organization is to earn a profit for the owners of the company. Use of Profits Since a not-for-profit organization is formed to accomplish a specific
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up a website. (CPC.com‚ for example‚ sold for over $200‚000 when Contract Pharmaceutical Corporation decided to go online.[1] Not bad for three letters.) For more advice‚ read How to Buy a Cheap Domain Name. Ad 2 Do online surveys. Online surveys won’t earn you much apiece‚ but they don’t eat up much time either and can add up when you need cash in a pinch. Read How to Make Money with Free Online Surveys for more advice. 3 Transcribe audio. Websites are getting better and
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Entrepreneurship 3 Characteristics and skills of an Entrepreneur 4 Ambition 4 Creativity 4 Enthusiasm 4 Decision-making 5 Perseverance 5 Skills 5 Communication Skills: 5 Marketing Skills 6 Leadership Skills: 6 Team Building Skills 6 Mary Ann O’Brien 8 Tony Ryan 8 Darina Allen 9 Conclusion 9 An Entrepreneur is someone who exercises initiative by organising a venture to take benefit of an opportunity and‚ as the decision maker‚ decides what‚ how‚ and how much of a good or service
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CHAPTER-1 INTRODUCTION 1.1 MEANING The classic definition of an Entrepreneur is “a person who organizes and manages a business undertaking‚ assuming the risk for the sake of the profit.” The word ’entrepreneur’ is derived from the Old French word ’entreprendre’ which was first used by the economic ’theorist’ Richard Cantillon in 1755 in an essay where he used this term to describe a person who assumed the risk of buying goods in the belief that they could sell them at a higher price at a
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(Miller). This proves women are able to do jobs for men just as good as a man would do. Women are not only able to do white-collar jobs they are also able to do blue-collar jobs when given the chance. “Today’s culture devalues jobs women work in” (Christian). This is upsetting because it is telling women their jobs are not important because of their gender. Without women in the workplace there would be so many jobs that would go undone because men wouldn’t do them. “As women go into “mens jobs” they
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