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What occurs when a business is tempted to put profits before social welfare?
Wiki User
∙ 13y ago
A conflict of interest
Wiki User
∙ 13y ago
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Why growth may not be the important objective of the business?
Before growth there are most important objectives for a business, first at all to make profits maximisation, business survival.So to be survived on the market,it will have to lower its prices of the products even though it will have a lower profits.
Why does a business want to make a profit?
Money is a gauge of value. The more value a business gives to it's customers, or the more customers it can add value to will increase it's profits. A business desires profits so that it can expand, develop new products, do market research to find what it's customers need, and to reward those who took the risk in investing in a business before the profits would be known. Profits can be used to build new buildings and hire new people. For many small businesses, the business owner is the last to get paid, and those profits represent their income. Many businesses are charitable and donate to local schools, scouting groups, and other charitable causes. If there is no profit, there are no incentives to be the best, to develop better products, and to better serve their customers.
Why does business need multiple objective explain any five such objective?
Before starting a business, there always exists certain objective. Generally, the main objective of any business is to earn higher profits. But, this cannot be the only objective as the business needs to cater the demands and requirements of the various parties who are interested in the business. Therefore, the business needs to focus on the performance of each and every area for survival in the market. For this, there should be other objectives such as fulfillment of social responsibility, innovations, efficient use of natural resources, etc. Thus, it can be said that the business needs the multiple objectives.
What are major problems that face before starting business?
before starting any business,businessman has to face many problems like selection of business,location of business,staff problems etc.. he should be careful in choosing his staff ,he should select right people for right job
What are some strengths and weaknesses of capitalism?
Some of the strengths of capitalism are the providing of a scale of wages in which one can acquire wealth. There is also investment in the means of production to generate profits for investors and owners. The main weakness is that this can lead to monopolies and great wealth being held by a very small percentage of a country.
Why growth may not be the important objective of the business?
Before growth there are most important objectives for a business, first at all to make profits maximisation, business survival.So to be survived on the market,it will have to lower its prices of the products even though it will have a lower profits.
Is profits income before taxes?
the operating income represents the income before income tax , it is not called profits
What should I know before applying for a business loan for the first time?
If you already have a business and are looking for extra funding make sure you have a list of your profits, revenues as well as expenses. The key to getting a loan for your business is showing stability and the ability to earn profits. The most important thing is to make sure you don't lie. Be honest and you will have a better chance at getting your loan.
Why are the phatoms upset (Christmas carol)?
They see an uncaring misery man who puts business before the welfare of humanity in Scrooge. This is cited by Jacob Marley
Where was Jesus tempted by Satan?
No he was tempted in the wilderness, before he started his ministry.
Why does a business want to make a profit?
Money is a gauge of value. The more value a business gives to it's customers, or the more customers it can add value to will increase it's profits. A business desires profits so that it can expand, develop new products, do market research to find what it's customers need, and to reward those who took the risk in investing in a business before the profits would be known. Profits can be used to build new buildings and hire new people. For many small businesses, the business owner is the last to get paid, and those profits represent their income. Many businesses are charitable and donate to local schools, scouting groups, and other charitable causes. If there is no profit, there are no incentives to be the best, to develop better products, and to better serve their customers.
How easy is it to do business in China?
It will most likely be difficult to do business in China as the Chinese system can be very different to western system for conducting business. The government are a lot more involved in controlling their own economy and maximizing profits. Like everything else, research will always be crucial when entering into a new business venture. Researching things like "how big is the market for said business" or "how competitive is the market?" before diving in may prevent a business from failing like many others before.
How many baked beans can you fit on to a teaspoon?
I can fit 28 before i'm tempted to eat them -
How can I make advertising profits from home on my laptop?
Infomertials for making advertising profits at home make it seem as if you will become very rich in a very short time with very little effort. In reality it takes a large investment and sophisticated software to make a profit. It is recommended that you do in-depth research on one of the many sites such as http://www.homebizwomen.com/start-your-own-business-idea.html before getting into this business.
What was welfare like before World War 2?
my goddness
What should I know about a business line of credit before taking one out?
Business lines of credit typically require a personal credit check for the primary owners. If the business is not new (has its own sales and profits already) you will be able to borrow more money than you would as an individual. However, business loans typically have a higher interest rate unless backed by the SBA.
How did Milton treat his workers?
Later in life and after the death of his beloved wife, Hershey became famous for spending a lot of his energy (and of his profits) on the welfare of his workers. Before that, working conditions in his company were not in generally known as markedly better than those of similar companies, but neither were they below-average.
