The Moral Case for Profit Maximization
The Moral Case for Profit Maximization

Author: Robert White

Publisher: Rowman & Littlefield

Published: 2020-04-01

Total Pages: 241

ISBN-13: 1498542646

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The Moral Case for Profit Maximization argues that profit maximization is moral when businessmen seek to maximize profit by creating goods or services that are of objective value. Traditionally, profit maximization has been defended on economic grounds. Profit, economists argue, incentivizes businessmen to produce goods and services. In this view, businessmen do not need to be virtuous as long as they deliver the goods. It challenges the traditional defense of profit maximization, arguing that profit maximization is morally ambitious because it requires businessmen to form normative abstractions and to cultivate a virtuous character. In so doing, the author also challenges the moral basis of corporate social responsibility. Proponents of CSR argue that businessmen can do good while doing well. This book argues that businessmen already do good by maximizing profit, drawing upon the histories of the wheel, the refrigerator, and the shipping container, as well as the biographies of J. P. Morgan, John D. Rockefeller, and Thomas Edison to demonstrate the role of values in the creation of material goods and the role of the virtues in value creation. The author challenges readers to rethink the relationship between profit, value, and virtue.

Profit Maximization
Profit Maximization

Author: Patrick Primeaux

Publisher: Austin & Winfield Publishers

Published: 1995

Total Pages: 0

ISBN-13: 9781572920255

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Primeaux and Stieber clearly articulate that good ethics maximize profits. The authors show that in the long run business must operate within the value systems of a society.

21st Century Economics: A Reference Handbook
21st Century Economics: A Reference Handbook

Author: Rhona C. Free

Publisher: SAGE Publications

Published: 2010-05-14

Total Pages: 1038

ISBN-13: 145226631X

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Interest in economics is at an all-time high. Among the challenges facing the nation is an economy with rapidly rising unemployment, failures of major businesses and industries, and continued dependence on oil with its wildly fluctuating price. Economists have dealt with such questions for generations, but they have taken on new meaning and significance. Tackling these questions and encompassing analysis of traditional economic theory and topics as well as those that economists have only more recently addressed, 21st Century Economics: A Reference Handbook is a must-have reference resource. Key Features Provides highly readable summaries of theory and models in key areas of micro and macroeconomics, helpful for students trying to get a "big picture" sense of the field Includes introductions to relevant theory as well as empirical evidence, useful for readers interested in learning about economic analysis of an issue as well for students embarking on research projects Features chapters focused on cutting-edge topics with appeal for economists seeking to learn about extensions of analysis into new areas as well as new approaches Presents models in graphical format and summarizes empirical evidence in ways that do not require much background in statistics or econometrics, so as to maximize accessibility to students

Profit Maximization Through Customer Relationship Marketing
Profit Maximization Through Customer Relationship Marketing

Author: Lerzan Aksoy

Publisher: Routledge

Published: 2014-06-03

Total Pages: 148

ISBN-13: 1317993330

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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.

Microeconomic Theory for the Social Sciences
Microeconomic Theory for the Social Sciences

Author: Takashi Hayashi

Publisher: Springer Nature

Published: 2021-07-21

Total Pages: 544

ISBN-13: 9811635412

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This textbook covers microeconomic theory at the level of intermediate and advanced undergraduates. It is also intended as an introduction for those with other intellectual and academic backgrounds who may not necessarily agree with “mainstream” economists but at least are interested knowing how they think and see things. The book provides thorough explanations of definitions and assumptions that the theory is based upon. It provides comprehensive accounts of motivations and reservations behind the theory. As well, it precisely presents the logical process of how the assumptions lead to the conclusion, conveying the intuition and the key of the arguments. An abundance of topics is included here: individual choice, general equilibrium, partial equilibrium, game theory, imperfect competition, transaction under incomplete information, market failures, welfare economics, social choice and mechanism design. The book is a valuable resource for any reader studying or simply interested in microeconomic theory.

Risk, Uncertainty and Profit
Risk, Uncertainty and Profit

Author: Frank H. Knight

Publisher: Cosimo, Inc.

Published: 2006-11-01

Total Pages: 401

ISBN-13: 1602060053

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A timeless classic of economic theory that remains fascinating and pertinent today, this is Frank Knight's famous explanation of why perfect competition cannot eliminate profits, the important differences between "risk" and "uncertainty," and the vital role of the entrepreneur in profitmaking. Based on Knight's PhD dissertation, this 1921 work, balancing theory with fact to come to stunning insights, is a distinct pleasure to read. FRANK H. KNIGHT (1885-1972) is considered by some the greatest American scholar of economics of the 20th century. An economics professor at the University of Chicago from 1927 until 1955, he was one of the founders of the Chicago school of economics, which influenced Milton Friedman and George Stigler.

The Secret to Maximizing Profitability
The Secret to Maximizing Profitability

Author: Bob Sproull

Publisher: CRC Press

Published: 2019-12-06

Total Pages: 210

ISBN-13: 1000751783

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This book fully details, as the title suggests, the real secret to maximizing an organization's profitability. While many companies have implemented improvement initiatives such as Six Sigma and Lean Manufacturing, there is a missing link which, when discovered and implemented, will take these same companies to profit levels not seen before. This missing link is the Theory of Constraints, and when it’s combined with Lean and Six Sigma, true transformational improvements are sure to follow. In this book, the author walks you through the step-by-step method on how to combine these three methodologies with the result being significant improvements to flow, major improvements in variation, substantial reductions in waste, superior on-time delivery, and ultimately, maximized profitability. He has been using this integrated methodology for many years and each time, the results realized were well beyond what the leadership teams had experienced previously. The genesis behind this combined improvement cycle is based upon many years of analysis of both failures and successes using Lean, Six Sigma, and the Theory of Constraints as stand-alone improvement initiatives. By integrating Lean, Six Sigma and the Theory of Constraints into a single improvement cycle, the author has developed a recipe that will maximize your return on investment, cash flow, and net profit. The Secret to Maximizing Profitability is both stimulating and thought provoking, but more importantly it will provide your organization with a roadmap for maximizing the use of your resources to achieve more bottom-line improvement than you ever imagined possible.

Profit Maximization Techniques for Operating Chemical Plants
Profit Maximization Techniques for Operating Chemical Plants

Author: Sandip K. Lahiri

Publisher: John Wiley & Sons

Published: 2020-05-01

Total Pages: 448

ISBN-13: 1119532175

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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.

The Profit Paradox
The Profit Paradox

Author: Jan Eeckhout

Publisher: Princeton University Press

Published: 2022-10-25

Total Pages: 352

ISBN-13: 0691224293

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A pioneering account of the surging global tide of market power—and how it stifles workers around the world In an era of technological progress and easy communication, it might seem reasonable to assume that the world’s working people have never had it so good. But wages are stagnant and prices are rising, so that everything from a bottle of beer to a prosthetic hip costs more. Economist Jan Eeckhout shows how this is due to a small number of companies exploiting an unbridled rise in market power—the ability to set prices higher than they could in a properly functioning competitive marketplace. Drawing on his own groundbreaking research and telling the stories of common workers throughout, he demonstrates how market power has suffocated the world of work, and how, without better mechanisms to ensure competition, it could lead to disastrous market corrections and political turmoil. The Profit Paradox describes how, over the past forty years, a handful of companies have reaped most of the rewards of technological advancements—acquiring rivals, securing huge profits, and creating brutally unequal outcomes for workers. Instead of passing on the benefits of better technologies to consumers through lower prices, these “superstar” companies leverage new technologies to charge even higher prices. The consequences are already immense, from unnecessarily high prices for virtually everything, to fewer startups that can compete, to rising inequality and stagnating wages for most workers, to severely limited social mobility. A provocative investigation into how market power hurts average working people, The Profit Paradox also offers concrete solutions for fixing the problem and restoring a healthy economy.