Economics

If unrivaled were to ask a general member of the familiar what a business or a firm is, one is probably to be given an example: WH Smith, Tesco, Leisure Centres, British Gas and so on. All of the aforementioned businesses have common land factors, they all provide products in the form of goods or services, for example, books, food, physical fitness training, utilities etcetera some of the products provided by businesses argon needed by clients, they are in essence providing necessities, for example, basic food, and clothing. Some businesses on the other hand provided products which customers can be persuaded to want through with(predicate) advertising. For Example, luxury food, fashion clothing, or a holiday etc. A business may therefore be delineate as; an organisation which provides goods or services which satisfy customer needs and wants. (Fardon, Adcock et al, p13, 2000) Although businesses have common factors, the objectives of a business are extremely variable. For Example, firms like WH Smith or Tesco are likely to be most interested in gather come upon; their overall business objective is likely to be profit maximisation. Leisure Centres on the other hand, are likely to be more interested in the service, which they are able to turn to the public; therefore Leisure Centres business objectives are likely to be geared toward social benefit.

Alongside profit maximisation and social benefit, there are three further objectives, which a firm may wish to pursue. Namely, Revenue Maximisation, Company Growth, and benefit Maximisation. What follows is a tiped description of each of the aforementioned objectives.

do good MAXIMISATION The objective of profit maximisation brings with it an imperative doubtfulness to be considered in great detail; should businesses maximise pay? As we will see in more detail later, businesses have a social responsibility. They need to aim to pore pollution, improve safety levels, and preserve...

If you want to get a ripe essay, order it on our website: Orderessay



If you want to get a full essay, wisit our page: write my essay .