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Contemporary Strategy Analysis - Term Paper Example

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The paper presents various reasons behind the profit maximization motive and supports the argument that it is indeed the ‘ultimate’ goal of all organizations, regardless of their size. A firm is an arrangement of individuals, resources – both physical, as well as financial…
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Contemporary Strategy Analysis
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Download file to see previous pages Smaller firms are usually managed by a single owner, who is in charge of all the key decisions made and hence are more likely to dominate the decisions in their favor, by taking decisions which are profitable to them. Thus, both the short term as well as long term goals of a smaller firm could be profit maximization alone. Larger firms, on the other hand, are owned by the shareholders but managed by "business managers" who are in charge of all key decision-makers within the company. Thus, as compared to smaller firms, the larger firms may deviate from the conventional profit maximization objective, to pursue other equally important goals such as sustainable development, improving quality of their products, environmental protection, etc. which are in the larger interest of the society as a whole. However, such goals are merely short term objectives, as objectives other than profit maximization may serve the community at large, but it does not help the firm in sustaining its competitive positioning in the industry. Furthermore, under the Corporate Social Responsibility agenda, which has recently gained widespread popularity and acceptance, it is considered obligatory for firms, to contribute towards the development of the society as a whole rather than pursuing their selfish motives of earning profits. But according to Sternberg (2000, Pp. 41):
“The Social Responsibility of any business is to Increase its Profits. For any business to pursue any goals other than maximizing profits,0 is to pursue ends different from, and contrary to, the ones approved by business owners. ... Managers who employ business funds for anything other than the legitimate business objective are simply embezzling'
He further states that using business resources for the accomplishment of nonbusiness objectives is “theft” and a “misappropriation” of the owners (shareholders’) personal property. ...Download file to see next pagesRead More
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