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Profit maximization - Objectives of Business Entity
Conventionally, this was considered to be the main goal of the firm. Profit maximization refers to getting the highest possible profits throughout the year. This would be achieved via either increasing sales revenue or via reducing expenses. Notice as:
Profit = Revenue - Expenses
The sales revenue can be increased through either volume selling price or the increasing the sales. However it should be differentiated, such maximizing sales revenue may on the same time effect to increasing the firm's expenses. However the pricing mechanism will, assist the firm to determine such goods and services to give so as to maximize profits of the firm.
The profit maximization goal has been criticized since of the following like:
according to given specialization take down an industry and investigate its managerial hierarchy to describe each of one of the managerial work level functioning
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Solutions - Shareholders and Management Conflict Conflicts between management and shareholders may be resolved as follows like: 1. Pegging or attaching managerial compens
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