In recent years, there has been considerable discussion of what the aims of the firm should be and of what they actually are, in both the literature of economists and that of management. There is not the space here to review this discussion in great detail,1 but we do need to pay some attention to the more important points that have been raised in the discussion.
KeywordsCash Flow Product Planning Aspiration Level Market Area Product Investment
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- 1.See, for example, W. J. Baumol, Economic Theory and Operations Analysis 2nd ed. (Englewood Cliffs, N. J., 1965) pp. 295ff.Google Scholar
- 3.‘The financing of corporations’, in E. S. Mason (ed.), The Corporation in Modern Society (Harvard, 1959) p. 170.Google Scholar
- 4.The term ‘satisficing’ was used to best effect in R. M. Cyert and J. G. March, A Behavioural Theory of the Firm (Englewood Cliffs, N. J., 1963).Google Scholar
- 7.See for example H. I. Ansoff, Corporate Strategy (Penguin, 1968) Ch. 5.Google Scholar