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Essay / Research Paper Abstract
This 3 page paper considers what insights into the strategic behavior of management today, if any, the managerial behavior models Marris, Williamson and Baumol provide. The bibliography cites 3 sources.
Page Count:
3 pages (~225 words per page)
File: TS14_TEbaumarris.rtf
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Unformatted sample text from the term paper:
undertake their task of running a firm for the owners; usually thy shareholders. The work of several theorists can help to give an insight into the way that this may
take place, of these theorists Baumol, Marris and Williamson provide some interesting models that can help to provide insight strategic management of today. The reasons that shareholders invest
in a business is usually with the aim of making a profit. They may aim to do this through capital growth only, or a combination of dividends and capital growth.
The question is how does management provide the results which are needed, but current performance as well as support market value of the firm in the way that management are
perceived as doing their job? It is with this in mind that strategic management models may provide insight. Baumols (1967) model looks at business from a strategic perceptive. It
is often assumed that firms will follow a profit maximising strategy in order to satisfy investors requirements. Baumol (1967) puts forward the idea of sales revenue maximization rather than profit
maximization, arguing that revenue maximization is a superior approach. There are a number of reasons why this is a model that can provide insight; looking at the theory there does
appear to be support for this model. Firms that are able to increase sales may find that they have other strategic benefits. Firms with higher levels of sales may have
advantages in terms of the economies of scale, higher sales alone and the volume has potential to add value. Not only are there the economies of scope and scale, there
is also increased power that the higher purchasing levels will give he firm over its suppliers helping it gain favourable le terms.
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