The document discusses three theories of managerialism: Baumol's model of sales revenue maximization, Marris's theory of the managerial enterprise, and Williamson's theory of managerial discretion. Baumol's model suggests that managers pursue sales maximization rather than profit maximization in order to enhance their own utility and prestige. Marris's theory proposes that managers and owners have different goals, but both seek to maximize the long-run growth rate of the firm. Williamson's theory argues that managers use their discretion to maximize their own utility rather than owners' profits, while still ensuring a minimum level of profit to maintain job security.