Contact Us
Sign In / Sign Up for FREE
Go to advanced search...

Running Business Like a Government - Research Paper Example

Comments (0) Cite this document
In the research paper "Running Business Like a Government " John Kenneth Galbraith was an institutionalist to the core and was opposed to neo-classical economic thought. His neo-Keneysian lean in economic thought was so pervasive in almost all that he wrote on the subject…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER94.3% of users find it useful
Running Business Like a Government
Read TextPreview

Extract of sample "Running Business Like a Government"

Download file to see previous pages This is where the overlap between the rising influence of the modern corporate entity (i.e. the business organization) and the Galbraith's concept of the neo-Keneysian institutionalist theory occurs.
Galbraith discussed extensively the concept of "dependent effect' which refers to the power of the business organization to influence the decision of the consumer. Thus according to him wants are created by the corporate entity and the consumer depends on the latter for the satisfaction of his/her wants (Stretton, 1999). In short, these wants are necessary for the consumer to achieve a higher degree of satisfaction that in itself is created by the business organization. Galbraith touched the nerve center of neo-classical theory by asking how the free market could bring about an optimum in resource allocation through the satisfaction of the sovereign consumer's demand when it's the very system that creates those wants anew.
The dispensation of the capitalist economic system according to Galbraith is basically focused on the creation of affluence through the imposed requirements for goods and services by consumers. According to Galbraith the ownership and the management of the firm are divorced and therefore the average stockholder or shareholder has very little or no say in the day-to-day affairs of the company (Harvey, 1990). All big business organizations are run in this fashion while the shareholder has to be satisfied with whatever the dividend or interest at the end of the year. Indeed this idea about the big business organization acting like a behemoth with little re4gard for the society in which it operates is old-fashioned now. Despite the agency problem which illustrates how the composition of the capital structure of the firm causes divisions between agents (i.e. managers) and owners (i.e. shareholders) and costs, Galbraith's view of the firm has very little relevance to the modern analysis of the firm as a socially responsible entity located in the midst of the very society in which it operates (Michael, 2004).
On the other hand, the neo-classical theory of the firm holds that its main aim is to maximize profits. Therefore it's obvious that it (the firm) would not hesitate to buy resources at the lowest possible cost so that it might be able to maximize the difference between cost and the selling price (Galbraith, 1963). Galbraith counters this assumption by saying that this is something that can be accepted in the market sphere but not in the planning sphere. In the market sphere, even the smaller firms can survive the onslaught of bigger corporations because they are well managed but not so in the planning sector were as shown above the firm is controlled by managers who are paid hands with their own private agendas. This view of Galbraith of the day-to-day management of the firm has very little or no acceptance among many modern-day management gurus who believe that the corporate entity irrespective of its size has to act in accordance with the dictates of the market – i.e. the market of resources and the market for final products  (Roehrich, 1984). ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(Running Business Like a Government Research Paper, n.d.)
Running Business Like a Government Research Paper. Retrieved from
(Running Business Like a Government Research Paper)
Running Business Like a Government Research Paper.
“Running Business Like a Government Research Paper”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Running Business Like a Government

Running Head

... by presenting goods that are chosen above those of rivals; (3) growing productivity by setting up additional cost-effective lines; (4) creating a status for technological superiority by initiating modern commodities. The task anticipated from professionals chipping in to product improvement in a company relies significantly on how top level management plans to expand the company. Within a number of businesses, product improvement is the preferred technique for protecting as well as expanding geographically. In particular, customers “that are innovators and market leaders in their own marketplaces are likely to be an important source of new product ideas” (Johne, p. 6, 1994). Article 3: Teaching by Listening: The Importance of Adult-Child...
10 Pages(2500 words)Essay

Welfare Cost in the Government is Running out of Control

... of welfare in government from running out of control, the government could slow the growth of welfare, promote personal responsibility, give portions of welfare assistance in form of loans instead of grants, and/or the government and the other concerned agencies could simply do away with the welfare (Mink & Rickie, 2003). Organizations likely to benefit Enacting these measures would relief a number of organizations of the burden of providing welfare funds to areas that require it. For instance, the government of United States spends lost of dollars in funding welfare services such as medical health, insurance, food aid agencies, public utility steering agencies, and many other organizations within the States (Marx, 2004). It is agreeable...
14 Pages(3500 words)Research Paper


...?GOVERNMENT IN YOUR BUSINESS Wal-Mart Inc. is a renowned American multinational retailer corporation operating chains of large discount warehouse and departmental stores. It is currently the biggest private employer in the world with slightly over 2 million employees. It operates on a philosophy of providing quality goods to its customers at a low price. Management committee at Wal-Mart should expect a new working relationship with the government, where government will offer incentives for their growth in America and globally. Further, the managers at Wal-Mart would work closely with the government to ensure that incentives offered are utilized for the growth of the company. Government is working hard to put in place long term measures...
4 Pages(1000 words)Article

Treadmill Running and Road Running

... develop resilience and the workout is not as effective as running on different paths. On the other hand, in the treadmill running, the runner does not have any choice. He/she has to run on the treadmill all the time with the same static surroundings. This may make treadmill running really boring and reduce the efficiency of the runner. A runner who can easily run for thirty minutes on a road may become extremely exhausted by running just for fifteen minutes on a treadmill because nothing in the surroundings changes all this while. Therefore, people who use treadmill for running are strongly recommended to have some other things of interest around them like music so that they keep engaged in their work. Again, road running is better than...
4 Pages(1000 words)Essay

Running the Government without Debt

...? Running the Government without Debt Running the Government without Debt Introduction A government without debt is not an unimaginable concept. There are precedents in the federal government (US) where the period from 1998-2001was a surplus period. That such an era is possible and this policy was resorted to shows that political will goes a long way in making this argument a valid one. The period from 1972 to 1998 was a deficit one. Thornton (2012) argues that the debt problem began around 1970 when the government began running a persistent deficit. However, what is equally disturbing is that the US government moved away from surplus budgets during the latter period and never even gave it a rethink. There has been a marked tendency...
9 Pages(2250 words)Essay

Running a Business on Smartphones

...Running a Business on Smartphones 1. Ways that smartphones helped the companies become more profitable It helped reduce the number of staff. For example, Lloyd was able to reduce the number of staff to only 41 hence reduced the cost for their salary. Through the use of eTrance, the company was able to reduce the number of hours of the accountant per week, lowering their wage bill. The use of smartphones helped reduce the amount of time needed to solve an issue and serve a customer. The CPS Energy staff was able to use the smartphones as digital cameras and for GPS tracking, which, is helpful in emergency notification. The integration of smartphones helps speed up the purchase order, providing a better customer service. This translates...
2 Pages(500 words)Case Study

Internal and External Environmental Analysis for the Bakery Business

Liberalization of foreign investment and technology policy of the government is supportive of establishing industrial units in the country.

Threat: The UK food regulatory authority is planning to enforce the EC Regulations relating to food labeling. The labeling requirements under the new regulations will affect the food industry as the suppliers will be legally obliged to disclose the GM content of foods to the caterers. Thus business firms in the bakery industry also will be effected through the exclusion of flexible manner of labeling arrangements in the case of flour confectionery involving GM Soya or maize. (Genetically modified and novel foods (labeling) (England) regulations, 2000).

Trend: The new subs...
6 Pages(1500 words)Case Study

The Management, Leadership and Teamwork Competencies Required by a Small Business Owner

On the other hand organizational leadership is defined as the ability based on the specific skill of an individual to lead his/her subordinates in a manner that pre-planned organizational goals could be achieved within the defined time-frame.

According to Burns (1978) and Bass (1985), transformational leadership has a set of category constructs such as values, morals, farsightedness, long term goals, principles, acute awareness about the dividing line between causes and symptoms, mission statements, strategic perspectives, and human resources. Similarly, they identify a set of category constructs in the transactional leadership also. For instance concentration on the task at hand, short term goals and tactics, confusion co...
6 Pages(1500 words)Coursework

Theres No Other Store like David Jones

Established back in 1838, David Jones offers the public with a wide range of services including bridal registry, florist, interior decorator, beauty treatment like spa, and online wine club (David Jones, 2009a). With the use of printed catalogs and store expansion, David Jones is also selling branded goods like Bulgari, Fendi, Zegna, and Ferragamo (David Jones, 2009b). Aside from selling toys, books, stationery, electronic goods, and furniture; David Jones is also selling men’s and women’s clothing among others.

Despite the global financial crisis, David Jones remains firm in targeting the higher end market (Case Study, p. 381). In line with this, the relationship between market segmentation, market targetin...
7 Pages(1750 words)Case Study

Strategies of the South African Government

Maslow has argued that security and safety are required by all human beings (Boeree 2006). According to the Federation Internationale de Football Association (2009), Uruguay was the first nation to host the Fifa World Cup. In 2010, South Africa would be the first African nation to host the next World Cup. But Euromonitor (2009) considers that South Africa is a country with a significant rate of insecurity that would influence the trip to South Africa. Various security strategies will have to be reviewed by the South African Government in order to implement security and safety during this big event (Republic of South Africa, 2008). To accomplish the safety of the tourists during the World Cup 2010, many South African cities have in...
17 Pages(4250 words)Research Proposal

Business Information Systems

... structure inside the business comprises different combination of devises. This structure offers a great opportunity regarding the communication inner and outside the night club. This structure offers a great opportunity for the inner security management of business and additional operational management aspects. In this structure we have main devices like Telephone, Answering service/voicemail, cellular Phone, pager, toll free number, E-Mail, Website. From the security point of view Club IT has video cameras system, mirrors, and alarms in order to enhance security and reduce crime. In this structure the security officer constantly monitor and observe the overall security structure. With regard to new technology implementation at business...
8 Pages(2000 words)Case Study

Business Administration

...Master Business Administration – Pre Admission Essay Please describe your main interests and leisure activities, and any other experiences or involvement that has significantly influenced your career or personal development. 100 Words I was born in India where Cricket is played across the country. I received my inspiration and motivation to play this game after India won the 1983 World Cup Championship. I have played this game representing my school and college in various tournaments. During my leisure time I watch the television. The channels that I generally watch are the sports, movies, and entertainment ones. I also have an interest in the technological gadgets. During my childhood, computers were the only gadgets which influenced me...
6 Pages(1500 words)Essay

Business Plan Real Estate Agency

re representing our company as their business consultants and our responsibilities are limited to the knowledge of the client’s business and information provided by the client.
The company Of-Fit has been operating as office supplies and equipment supplier since 1998. Their corporate office is in Aberdeen and it has excellent industry relations. The company is a sole proprietorship and its owner is Mr. Andrew Schwatz who has been working in the industry for more than 20 years. The company current staff is 8 and its revenues are £115,690 and £156,178 in 2008. The company aims to expand its operations in other business areas and regions of the UK.
The detailed business plan developed for this report incor...
12 Pages(3000 words)Business Plan

The Main Threat to Small Business

When it comes to reliability factor big businesses are able to sustain because of their track record. Big businesses are able to pacify their customers using their past successful track records.
Nowadays most of the business opportunities and orders are posted online. This means that business providers need to be well integrated with supplier systems through online facilities. The infrastructure of the business model needs to be updated. But this is not an easy task for small businesses. E-based procurement is possible only with a well-maintained network on the internet. This requires a lot of financial and technical necessities which could not be supported by small businesses. On the other hand, Big businesses are well equip...
8 Pages(2000 words)Assignment

Business Sustainability and Society: Coca-Cola Company

...Running Head: Business Sustainability & Society Business Sustainability & Society [Institute’s Business Sustainability & Society Introduction Since centuries, ethics has been a crucial and significant component of the human societies that contributed enormously in the creation of norms and values through religious influences, as well as through contribution of intellectuals and philosophers in the society. Unfortunately, nowadays, it is an observation that individuals, organizations, and even nations have commenced to overlook the phenomenon of ethics in their practices, specifically in the business sector that has become the major stakeholder confronting criticisms related to ethical practices. Critics (Crane, pp. 23-29, 2007) argue...
10 Pages(2500 words)Case Study

International Business: World Economic Forum and Davos 2010

...Introduction Globalization, one of the most hotly debated issues means global capitalism to some while others consider it to be the continuation of modernism with the forces of wealth, progress, democracy and happiness at play (Kellner, 2002). Globalization is considered to be beneficial which promotes economic prosperity, cultural diversity and technological advancement. According to the critical social theory, technology and capital work together to create a new globalized and interconnected world. While each force of globalization is important, technological revolution has impacted the business models, value creation and differentiation (Spelman, 2010). The cloud computing technologies that have made the popular social networking...
7 Pages(1750 words)Coursework

Running an Ethical Global Business

... individual accepts the responsibility and works for a better result. Making a commitment and fulfilling it, makes the company a trust-worthy name among the employees, customers, suppliers, communities and share-holders. The code that BHP has is a common reference point for defining how each of people working in office or site is expected to act while conducting a business with BHP Billiton. Working on-site or in an office, dealing with fellow employees, cooperation between business partners, community and government representatives or making decisions are routine based activities. Any high-risk activity in relation to the use of assets and any unexpected business behavior should be well understood whether it’s right or wrong and under any...
12 Pages(3000 words)Dissertation

Running a Self-Owned Business

However, running a self-owned business is much better than being employed by someone and working all day. When running a sole trading firm, the business owner has his own freedom, and he/she is not required to subordinate to anyone or act according to the directions of others. I was stunned when my friend Hussain revealed his decision to start a new business venture because I could not even imagine the risks associated with running a self-owned business today. Being a graduate in HR management, I was happy to work for a reputed MNC then, because such a career choice would assist me to enjoy the benefits of risk-free earning. I realized Hussain’s decision was right when we celebrated his 3rd store opening yesterday, exactly a...
6 Pages(1500 words)Article
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Research Paper on topic Running Business Like a Government for FREE!

Contact Us