They cannot , therefore , maximize profit . This contention is not by itself enough to refute the theory of profit maximization . The equation of marginal cost and marginal revenue gives mileage to the economic theorist to predict how ...
Author: Amitabha Mukherjee
Publisher: Abhinav Publications
Category: Business planning
This Book Is An Exercise In Pure Theory At The Micro-Level. Abandoning The Traditional Concept Of Profit, As Being The Residual Difference Between Revenue And Cost, The Book Examines In Detail New Concepts Of Profit And Attempts At Determining The Behaviour Of Firms (Where Management And Ownership Is Separated) In Terms Of These New Profit Concepts. The Entire Gamut Of The Theories Of The Firm And The Theories Of Pricing And Output Determination Under Different Market Conditions Is Examined, To Establish How Conventional Analysis Leaves No Room For Firm S Growth, As The Surplus Generated By A Firm Exhausts Itself In Returns To Factor Inputs. A General Theory Of Profit Is Then Presented And The Relationship Between Profit And Other Variables, Notably Growth Is Examined, Within A Firm. An Attempt Is Made To Resolve The Conflict That May Arise In The Managerial Objectives And The Objectives Of The Firms (In The Long-Run) Where Ownership Is Separate From Management. Amitabha Mukherjee After A Distinguished Academic Career Obtained A First Class Master S Degree In Economics From Ranchi University (1976). He Obtained His Second Master S Degree In Managerial Economics And Administrative Science From William Marsh Rice University, Houston (1978). He Studied Comparative Economic And Political Stystems In Washington (1978). He Was Awarded His Ph.D. For His Thesis On Behaviour Of Firms (1983). He Carried Out His Post-Doctorate Research At Rice (1985) And At The University Of South Florida, Tampa, Florida, U.S.A. (1987).
The moral case for profit maximization seems to encourage sole proprietors to act like corporations. If profit maximization is moral, then it seems that sole proprietors must brush aside their community ties and think only about the ...
Author: Robert White
Category: Business ethics
"The Moral Case for Profit Maximization considers the moral status of profit maximization, arguing that profit maximization is moral when businessmen seek to maximize profit by forming values and cultivating the virtues"--
A company operates to make profit. The best way to summarize a profit maximization project's objective is “Maximize profit in USD/h and sustain it.” Usually profit is defined as: Profit in USD∕h = ∑ Product ratei ∑ × Unit cost ...
Author: Sandip K. Lahiri
Publisher: John Wiley & Sons
Category: Technology & Engineering
A systematic approach to profit optimization utilizing strategic solutions and methodologies for the chemical process industry In the ongoing battle to reduce the cost of production and increase profit margin within the chemical process industry, leaders are searching for new ways to deploy profit optimization strategies. Profit Maximization Techniques For Operating Chemical Plants defines strategic planning and implementation techniques for managers, senior executives, and technical service consultants to help increase profit margins. The book provides in-depth insight and practical tools to help readers find new and unique opportunities to implement profit optimization strategies. From identifying where the large profit improvement projects are to increasing plant capacity and pushing plant operations towards multiple constraints while maintaining continuous improvements—there is a plethora of information to help keep plant operations on budget. The book also includes information on: ● Take away methods and techniques for identifying and exploiting potential areas to improve profit within the plant ● Focus on latest Artificial Intelligence based modeling, knowledge discovery and optimization strategies to maximize profit in running plant. ● Describes procedure to develop advance process monitoring and fault diagnosis in running plant ● Thoughts on engineering design , best practices and monitoring to sustain profit improvements ● Step-by-step guides to identifying, building, and deploying improvement applications For leaders and technologists in the industry who want to maximize profit margins, this text provides basic concepts, guidelines, and step-by-step guides specifically for the chemical plant sector.
This is consistent with the observation that most banks segment customer base by profitability and not switching ... What we are interested in is whether the existence of heterogeneity affects a profit-maximizing service provider in ...
Author: Lerzan Aksoy
Category: Business & Economics
Discover approaches to make customer relationship marketing more effective Profit Maximization Through Customer Relationship Marketing: Measurement, Prediction, and Implementation takes the various elements of customer centric marketing and brings them together using the latest research and case studies from various industries. Respected top researchers review and discuss research and concepts to provide practitioners, educators, and students with a deeper understanding of the wide range of issues relevant to customer centric marketing. This informative resource focuses on effective strategies and approaches to explain how companies can ensure that their marketing dollar achieves the highest return on investment (ROI). Customer centric approaches such as customer relationship marketing (CRM) aim to increase customer retention, acquisition, satisfaction, loyalty, differentiate customer value, develop customers via up-sell and cross-sell opportunities, and decrease costs. Profit Maximization Through Customer Relationship Marketing: Measurement, Prediction, and Implementation comprehensively explains how to make best use of customer information to better manage customer value and firm profitability. This valuable text also explains the importance of, as well as how to establish a reliable customer segmentation strategy. The book is extensively referenced and includes helpful figures, tables, and photographs to clearly illustrate concepts. Topics discussed in Profit Maximization Through Customer Relationship Marketing: Measurement, Prediction, and Implementation include: the goals of customer centric approaches various customer segmentation approaches cross-selling as a strategy for customer relationship management strategies to effectively use customer loyalty the value and cultivation of customer satisfaction and customer retention and more! Profit Maximization Through Customer Relationship Marketing: Measurement, Prediction, and Implementation is an invaluable resource for practitioners, educators, and graduate students.
Modern managerial finance theory operates on the assumption that the primary goal of the firm is to maximize the wealth ... Note that the traditional goal frequently stressed by economists—profit maximization—is not sufficient for most ...
Author: Jae Shim
Publisher: McGraw Hill Professional
Category: Business & Economics
Confused about financial management? Problem solved. Schaum's Outline of Financial Management provides a succinct review of all financial management concepts in topics such as financial forecasting, planning and budgeting, the management of working capital, short-term financing, time value of money, risk, return, and valuation, capital budgeting, and more.
CHAPTER 13 Profit Maximization in Mechanism Design Jason D. Hartline and Anna R. Karlin Abstract We give an introduction to the design of mechanisms for profit maximization with a focus on single- parameter settings.
Author: Noam Nisan
Publisher: Cambridge University Press
In recent years game theory has had a substantial impact on computer science, especially on Internet- and e-commerce-related issues. Algorithmic Game Theory, first published in 2007, develops the central ideas and results of this exciting area in a clear and succinct manner. More than 40 of the top researchers in this field have written chapters that go from the foundations to the state of the art. Basic chapters on algorithmic methods for equilibria, mechanism design and combinatorial auctions are followed by chapters on important game theory applications such as incentives and pricing, cost sharing, information markets and cryptography and security. This definitive work will set the tone of research for the next few years and beyond. Students, researchers, and practitioners alike need to learn more about these fascinating theoretical developments and their widespread practical application.
If the enterprise is publicly owned , should bonuses and promotions be based upon total profits or should they be based ... In particular , the appendix to this chapter explores the implications of sales maximization as well as profit ...
Author: David W. Conklin
Publisher: Cambridge University Press
Category: Business & Economics
This book explores diverse economic systems and the choices societies must face in determining which economic systems best suit their needs.
Consumer surplus, on the other hand, increases as we move away from the monopoly profit-maximizing price. Total surplus increases initially but decreases as we approach the perfect flat rate, rising about 7% overall.
The crucial point in our argument was based on the fact that bondholders are interested in the returns due to them -- not in profit maximization . Thus , like the stockholder , the institutions surrounding the bondholder effectively ...
It was suggested above that a profit maximizing monopolist may alleviate the competitive pressure of second-hand versions by properly managing his own output levels over time. This means that in attempting to maximize the present value ...