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In economics, the profit motive is the motivation of firms that operate so as to maximize their profits.Mainstream microeconomic theory posits that the ultimate goal of a business is "to make money" - not in the sense of increasing the firm's stock of means of payment (which is usually kept to a necessary minimum because means of payment incur costs, i.e. interest or foregone yields), but in ...
In economics, organizational effectiveness is defined in terms of profitability and the minimisation of problems related to high employee turnover and absenteeism. [4] As the market for competent employees is subject to supply and demand pressures, firms must offer incentives that are not too low to discourage applicants from applying, and not too unnecessarily high as to detract from the firm ...
Organizations will function well if managers rationally apply the principles that apply to economic behavior. [3] Managerial economics as a science. Define the Problem The first step in making a business decision is to understand the problem in its entirety. Without correct analysis of the problem, any solution developed will be inadequate. [32]
These days, the effort to fix the climate is being driven by the profit motive—and that’s a good thing. The proliferation of CEOs at COP—including those from oil companies—makes me more ...
Good Profit: How Creating Value for Others Built One of the World's Most Successful Companies is a 2015 book by Charles G. Koch. It was published in the United States by Crown Business, an imprint of the Crown Publishing Group, a division of Penguin Random House LLC. It was published in the United Kingdom by Piatkus.
At times, profit-making social enterprises may be established to support the social or cultural goals of the organization but not as an end in themselves. For example, an organization that aims to provide housing and employment to the homeless may operate a restaurant , both to raise money and to provide employment for the homeless.
The modern organization leaders does not care much about their employees ideas but they do care much about the organization profitability, they also believe that making decision in this manner consume much time and may delay the organization from generating profit. Consensus style of participative decision-making is the less practiced style of ...
Becoming a benefit corporation does not guarantee in and of itself that a company will put its stated mission above profit, as that status legally requires only that the company's board "balance ...