Introduction to Management -- Economics, Finance and Management Assignment

Introduction to Management -- Economics, Finance and Management - Assignment Example i of the stakeholders of the firm may be its customers who stinker significantly be involved in the stakeholders conflict. This may be due to the fact that the customers may non be willing to purchase the products of the firm due to various reasons including firms reputation for providing environment friendly products etc. This may be an upstanding point of conflict between the firm and its most important stakeholders. regime can be another important stakeholder in this business because Government has the boilers suit responsibility of ensuring that firms are meeting the exact criteria as laid down by the law. Further, it can also be at conflict with other stakeholders because Government often take unilateral decisions which may adversely affect other set of stakeholders. As much(prenominal) government takes such actions very wisely in order to avoid direct conflict with other set of stakeholder s.Every commercial organization has the sole purpose of achieving higher value for its shareholders. As such it is important that it must earn profit and maximize it to the fullest advantage of the shareholders. Profit maximization therefore is a term which is used to channelize that the firms value is what it should have been rather than what it is now.Profit satisficing on the other hand is the firms pursuit to earn satisfactory profits rather than upper limit profits. This can be due to the fact that a firm might have some other objectives to pursue rather than the profit maximization. Such objectives can included maximization of market value etc. it is also important to note that the notion of profit satisficing differs from firm to firm and each management or firm may pursue the aim in different manner.From the given facts in the essay study it seems that the firm is a profit satisficer as its objectives and actions indicate that it is attempting to increase the profitability to a reasonable level. It is important to note that the profit