Business Objectives Tutor2u Economics

We can call objectives the cornerstone of every business.

Business objectives tutor2u economics. How will a change in objectives such as a move from profit max. We then spend a few minutes looking at the fast changing and increasingly contestable uk gym industry to consider alternative objectives in the short and medium term. Tutor2u s geoff riley explores the crucial topic of business objectives as part of our a2 economics revision webinar series more about tutor2u economics.

Economic theory often assumes that firms are rational profit maximisers. However in the real world there are many other objectives that a firm can pursue. Thank you to cathy williams and jon clark.

Examples of alternative business objectives. Usually in economics we assume firms are concerned with maximising profit. Sometimes there is an overlap of objectives.

An increasing number of companies are moving away from profit maximisation and are refocusing their priorities towards the welfare of their suppliers employees and the planet. Higher dividends for shareholders. This revision presentation considers the variety of stakeholders impacted by business activity.

Just posted on the tutor2u economics reference section. We work through some mc questions and revise each of the different objectives that corporations might have. This is a evision webinar looking at business objectives.

The most basic model of. Revenue maximisation occurs where marginal revenue zero increasing and protecting their market share. Objectives of business are the purpose for which the business is established and performed.