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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purpose in writing this is to argue for the existence of an objective morality based entirely on rational and scientific reasoning. By "objective morality" I do not simply mean that morality exists in the sense that various societies consider various actions to be immoral. What I mean is that certain actions are inherently right or wrong regardless of what any society thinks about them. In other words‚ I mean that there is an "objective morality" which exists independently of human beliefs and human
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HUMAN BEHAVIOR IN ORGANIZATION 1. Conflict is the struggle that arises when the goal-directed behavior of another person or group. Whether conflict benefits or harms an organization depends on how it is managed. There are four basic types of conflict and combination of these that can arise in an organization. 1. Issue conflict -is usually a disagreement between two or more groups arising from differences in organizational viewpoint. 2. Intrapersonal - conflict between two individuals
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Management by Objectives What is MBO? Management by Objectives (MBO) is also known or referred to as Management by Results (MBR). Management by Objectives is a process whereby the objectives in an organization are defined in order to help the management of the organization and the employees to agree on the same. The concept and the term was coined and popularized by Peter Drucker in the book‚ The Practice of Management in the year 1954. The essence of management by objectives lies in mutually
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Definition of Motherboard: A motherboard is the main circuit board inside a computer that connects the different parts of a computer together. It has sockets for the CPU‚ RAM and expansion cards (e.g. discrete graphics cards‚ sound cards‚ network cards‚ storage cards etc)... and it also hooks up to hard drives‚ disc drives and front panel ports with cables and wires. - See more at: 1. Back Panel Connectors & Ports Connectors and ports for connecting the computer to external devices such as display
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plan that contains objectives. There are two types of objectives‚ strategic and tactical objectives. Strategic objectives are objectives set for the long run; tactical objectives are short day-to-day objectives that the business needs to operate. Setting objectives provides a greater sense of direction for the business. So once an objective is set‚ the employees‚ owner and directors even‚ have a clear pathway and guide of what they want the business to achieve and the objective gives everyone motivation
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Objectives of Punishment There have been many rules throughout history some choose to follow those rules and some choose to break the rules. The big question is the product to those who should break the rules. There was a day when parents could spank their children freely and accepted as simply normal. As the years went on‚ society started to see how people would take it too far. Therefore‚ laws had to change. It is the same within today’s prison system. Individuals are in prison because
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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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Objectives of Business means the purpose for which the business is established. It is generally believed that the main objective of business is ta make profit and avoid loss. We do admit that profit is a driving force in undertaking any business activity but it is not the sole objective of any business. In the words of Urwick “earning of profit cannot be objective of a business any more than eating is the objective of living” . A business which is hunting after profits and ignores other objectives
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security system will ensure that this place is safe for everybody. Good security system will reduce unnecessary incidents such as theft‚ intruders and etc and due to this automatic identification is necessary. Automatic identification is the broad term given to a host of technologies that used machines to identify objects such as smart cards‚ voice recognition‚ optical recognition and RFID tags. A proposed Automated Subdivision Barrier for Mulawin Heights using RFID with Road Mapping is a system that
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