Goals of a corporate enterprise - Sales maximization
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The document discusses corporate goals of sales maximization and profit maximization. It summarizes Professor Baumol's view that a modern firm aims to maximize sales subject to a minimum profit constraint, in order to generate funds for dividends, reinvestment, and financial safety. Graphs illustrate how maximizing sales results in higher output and revenue but lower profits compared to profit maximization. The document concludes that according to Baumol's model, a sales maximizing firm with a profit restraint will produce the output level that yields the highest possible revenue consistent with minimum profits.
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1. The document discusses the concept of perfect competition, which is an ideal market structure with no barriers to entry, homogeneous products, perfect information, and price-taking firms and consumers.
2. Under perfect competition, firms seek to maximize profits by producing at the level where marginal revenue equals marginal cost, and marginal cost is rising. In the long run, no firms earn abnormal profits as free entry and exit drives prices down to minimum average cost.
3. The perfect competition model serves as a benchmark for analyzing market imperfections, as it achieves an efficient allocation of resources where price equals minimum average cost and marginal cost equals marginal benefit to consumers.
Perfect competition in a Monopolistic Market
A firm’s pricing market power depends on its competitive environment.
In perfectly competitive markets, firms have no market power. They are “price takers.” They make decisions based on the market price, which they are powerless to influence.
In markets that are not perfectly competitive (which describes most markets), most firms have some degree of market power.
Strategy in the absence of market power
Firms cannot influence price and, because products are not unique, they cannot influence demand by advertising or product differentiation.
Managers in this environment maximize profit by minimizing cost, through the efficient use of resources, and by determining the quantity to produce.
https://azpapers.com/imperfect-competition-market-analysis/
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CO2 Presentation - The Largest Profit Levers
Take a deep dive with master bookkeeper Dan Gordon, as he explains what tools to use, business organization strategies that include systems, procedures checklists, and more. Learn the tricks of accounting automation that will help you move the profit needle for your company.
Getting from 0-$100K/m in SaaS
This document discusses strategies for building a $100,000/month SaaS business, including:
1. Pursuing large total addressable markets (TAMs) over $1 billion or focusing on niche markets under $200 million.
2. Using funding strategically when it can power growth, but recognizing execution is also key.
3. Leveraging low costs in India to improve features, marketing, customer success.
4. Optimizing the full customer funnel around acquisition, activation, retention, revenue, and referral/growth.
5. Achieving product-market fit through solving customer problems and reaching appropriate scale before focusing on growth.
Monopoly and monopolistic competition
Cost-plus pricing: Simplistic strategy that guarantees that price is higher than the estimated average cost
Studies of pricing behavior suggest that many managers who use cost-plus pricing do not price optimally.
Definition of Markup: Markup = (Price – Cost)/Cost where Cost here is cost per unit
The short-run equilibrium in monopolistic competition is Identical to short-run equilibrium under monopoly
As entry and exit of firms from the product group shifts individual firms’ demand curves, long-run equilibrium occurs where profit is equal to zero.
Profit maximisation & its alternatives
The document discusses profit maximization and different approaches companies take to maximize profit. It provides two approaches to profit maximization in the short run using total revenue and total cost curves, and marginal revenue and marginal cost curves. Profit is maximized where marginal revenue equals marginal cost. The document also discusses factors that can prevent companies from strictly pursuing profit maximization and alternative objectives companies may pursue like long-run survival, maintaining market share, and managerial utility.
ALPESH N UPADHYAY CV
- Alpesh N Upadhyay has over 25 years of experience in business development and marketing in the pharmaceutical industry, currently working with Pfizer Limited in Surat.
- He has a proven track record of increasing revenues, establishing networks, and streamlining operations to enhance productivity and achieve sales targets.
- Some of his key accomplishments include achieving 100% sales targets, extending product contributions and successfully launching new products which led to sales growth of over 20% in multiple roles with various companies.
CO2 2019 | Dan Gordon | Budgeting for Growth
Budgeting for Growth is a workshop about building a profitable company using budgets. It discusses what a budget is, why businesses create budgets, how to forecast revenues, and how to budget for direct costs, gross margin, sales and marketing expenses, general and administrative costs, and net income. The presentation emphasizes calculating the lifetime value of a customer to determine how much should be spent on marketing to acquire new customers.
Danspresentationnpmaacademy09 12566688864796 Phpapp02
This document discusses measuring performance in pest control businesses. It covers measuring financial performance through profit and loss statements and key ratios. It also discusses measuring marketing, sales, and operational performance through metrics like leads generated, proposals written, jobs completed efficiently. Overall it emphasizes the importance of measurement and data to effectively manage a pest control business for growth.
Perfect Competition
The document discusses the concept of perfect competition in economics. It provides the key characteristics that define a perfectly competitive market including that there are many small firms, no barriers to entry or exit, identical products, and complete information. Firms are price takers and seek to maximize profits by producing where marginal cost equals marginal revenue. In the long run, perfect competition leads to zero economic profits as new firms enter if profits are positive and firms exit if losses occur.
Cost and pricing
Cost plus pricing sets the price of a product by taking the full cost to produce and market the product and adding a desired markup. The full cost includes costs across the entire value chain from design to distribution. Both the costs and markup are influenced by efficiency in managing costs and customer demand. Ratan Tata aimed to launch the Tata Nano car at a target price of Rs. 100,000 by predefining a low margin and working backwards with suppliers to reduce costs through innovative design changes and efficient sourcing arrangements. This allowed for a car that met safety and emissions standards while achieving the target price point.
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PROFIT MAXIMISATION using MR, MC and profit maximisation.pptx
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Shortcomings of Demat Account
A demat account allows investors to hold securities digitally and trade shares online. However, demat accounts also have some shortcomings. Demat accounts require yearly fees to cover maintenance costs and force investors to trade frequently online. This level of technology literacy and high trading frequency can prevent long-term investing and result in losses. Demat account holders must also monitor stockbroker activities and may need to agree to additional contracts.
Demat Account Services
A demat account allows investors to hold shares and securities in electronic format rather than physical certificates. It provides benefits like seamless and fast transfer of shares, facilitates digitally secured storage of investments, and easy tracking of trading activities. A demat account provides a convenient way to hold shares and securities by eliminating risks of theft, forgery or damage of physical certificates. It allows for immediate digital transfer of securities once a trade is approved. Demat accounts do not require a minimum balance of shares and one can hold multiple demat accounts linked to a single PAN number.
Depository Participant
Depository Participant,
Functions of Depository Participant,
Dfference between Depository Participant and Depository
Services provided in Mobile Banking
Mobile banking allows users to conduct financial transactions using a mobile device and provides services such as accessing account statements, monitoring term deposits, receiving account alerts, managing mutual funds and insurance policies, and accessing loan and card statements. It is a branch of e-commerce that uses information and communication technology for business and financial management, with mobile commerce classified into obtaining information, conducting transactions, and providing services related to a product or service.
Ombudsman scheme
The Ombudsman scheme provides independent dispute resolution between organizations and their customers. It was first established in Sweden in 1915 and has since been adopted by many governments and private entities. The SEBI Ombudsman Regulations established the Ombudsman scheme in India in 2003 to handle investor complaints against listed companies and intermediaries. The Ombudsman investigates complaints, makes recommendations, provides guidance, monitors practices, and reports on complaints regarding issues like non-receipt of shares or funds. Complaints not resolved within one month can be referred to the Ombudsman.
Factors affecting share price
The document discusses factors that affect share prices, including supply and demand, interest rates, current events, and exchange rates. Supply and demand directly impact share prices, with prices rising when demand exceeds supply and falling when supply outweighs demand. Interest rates and monetary policy decisions also influence prices, with higher rates typically lowering prices. Current domestic and global events can positively or negatively impact investor sentiment and market prices. Exchange rates also play a role, as a stronger rupee against the dollar is often correlated with economic growth and higher stock values.
Rights of investors
This document outlines the rights of investors as shareholders, debenture holders, and security holders. As a shareholder, investors have rights to receive dividends and inspect company records. They can also apply to have meetings called or the company wound up. As a group, shareholders can call extraordinary meetings and demand polls. As debenture holders, investors are entitled to interest payments and can take action if debentures are in default. The document stresses that investors have responsibilities to be informed, vigilant, and participate in company meetings by exercising their rights individually or as a group.
Loss of Confidence of small investors
Small investor confidence can affect stock prices, with rising confidence leading to bull markets and falling confidence resulting in bear markets. Factors like company news, economic conditions, and regulatory actions influence investor confidence. The Securities and Exchange Board of India (SEBI) regulates India's securities market, but small investors may lose confidence in SEBI due to regulatory failures, lack of awareness about SEBI's role, perceived inefficiencies, or rampant insider trading. This could have negative effects like reduced market participation and investment from small investors. To regain confidence, SEBI must address transparency, communication, and strict enforcement against fraud and insider trading.
Facilities by BSE
The Bombay Stock Exchange (BSE) is the oldest stock exchange in Asia and provides various facilities to members and investors including trading, clearing and settlement, listing, market data, investor services, and international services. BSE offers a platform for trading various financial instruments, a comprehensive clearing and settlement system, listing services for companies, real-time market data and statistics, online trading and education for investors, and access to global markets through international partnerships.
Technological forces fueling e-commerce
This document discusses key trends driving e-commerce growth including omnichannel presence, extensive personalization, shift to mobile, conversational marketing, AI/chatbots, image search, and efficient checkout processes. It explains how technologies like video chat, co-browsing, and e-signatures allow for interconnected customer experiences across channels. Personalization is highlighted as important for understanding customer preferences and behavior. Mobile platforms and apps, location-based marketing, and augmented reality are increasing in importance.
Encryption and Decryption
Encryption is the process of converting a readable plaintext message into an unreadable cipher text message. Decryption is the reverse process of converting cipher text back into a readable plaintext format. The encryption process uses a public key at the sender's end to encrypt the message into unreadable cipher text. Decryption uses a private key at the receiver's end to decode the cipher text back into the original readable plaintext message. Encryption and decryption ensure secure transmission and storage of sensitive data that can only be accessed by authorized parties with the proper keys.
Meaning, Anatomy and Forces Fueling e-commerce
E-commerce involves the buying and selling of goods and services over the Internet. It can occur between businesses, businesses and consumers, consumers and businesses, and consumers directly. E-commerce uses electronic means like websites to facilitate commercial transactions. It requires large multimedia storage servers to hold content like audio, video, images and text. Information is delivered to consumer access devices through telecom, cable, computer or wireless networks. Three key forces fueling the growth of e-commerce are economic factors like lower costs, marketing advantages of new channels and personalized service, and advancing digital technologies.
Forces Fueling e-commerce
E-commerce is the process of buying, selling, or exchanging products, services, and information via electronic networks and computers. It allows consumers to exchange goods and services without barriers of time or distance. Key drivers of e-commerce growth include economic, technological, market, and social factors. Economically, e-commerce enables lower-cost interactions between businesses and partners, cheaper advertising and customer service, and higher profits through reduced overhead.
Inter Organizational e-commerce
This document discusses interorganizational systems (IOS) and e-commerce. It defines IOS as occurring between two or more organizations collaborating and sharing information. It describes different levels of IOS including individual organizations, networks themselves, and wider communities. It also outlines types of IOS at different technological stages from pre-internet to modern web 2.0 systems. Key benefits of IOS include enabling efficient supply chain management, facilitating technology exchange, allowing for global communication, and reducing business risks.
Factors for the success of m-commerce
This document discusses five factors that influence the adoption of mobile commerce (m-commerce): perceived usefulness, perceived ease of use, perceived trust, perceived cost, and perceived privacy. It provides definitions and explanations of each factor, describing how researchers have proposed that higher perceptions of usefulness, ease of use, trust, and privacy as well as lower perceptions of cost would positively influence consumers' adoption of m-commerce.
Advantages of E-Commerce
This document discusses the advantages and disadvantages of e-commerce. Some key advantages include low financial costs to start an e-business, the ability to operate 24/7 globally, and easily gaining customer data. However, disadvantages include sites crashing and customers being unable to try products before buying. Additionally, e-commerce faces high competition, potential quality issues, and security/technical challenges from poor implementation or evolving standards.
Types of E-Commerce
This document outlines 7 types of e-commerce business models:
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2) Business-to-Consumer (B2C) where businesses sell directly to consumers through websites like Amazon and Flipkart.
3) Consumer-to-Consumer (C2C) where individuals sell used goods to other consumers through sites like OLX and Quickr.
E-Commerce and E- Businesss
E-commerce refers to the buying and selling of goods and services, and the transfer of funds and data, over the internet. It allows for commercial transactions between businesses and consumers with no barriers of time or distance. While e-commerce involves commercial transactions via the internet, e-business relies entirely on the internet for all company activities from procurement to marketing to sales. E-commerce has grown exponentially in recent decades, emerging in the 1970s on private networks and accelerating with the creation of the world wide web and first online stores in the early 1990s.
RFID
This document discusses several topics related to mobile computing and m-commerce. It begins with an overview of RFID technology, including the basic components and types of RFID tags. It then covers WiMAX and how it provides wireless broadband connectivity over large areas. Finally, it discusses SMS and its use for short text messages. The document also outlines some security issues and safety measures for mobile computing.
Electronic Data Interchange & Internet
The document discusses electronic data interchange (EDI) and the internet. It defines EDI as the electronic exchange of business documents between organizations in a standardized format. Common documents exchanged via EDI include invoices, purchase orders, and shipping notices. The document also outlines several benefits of EDI for industries like retail, manufacturing, and automobiles. It provides a brief history of the internet and defines key terms like protocols and the world wide web. EDI is useful for regular exchanges between business partners in industries like supply chain management.
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Goals of a corporate enterprise - Sales maximization
- 1. Goals of Corporate Enterprise Dr. NGPASC COIMBATORE | INDIA Dr. N.G.P. ARTS AND SCIENCE COLLEGE (An Autonomous Institution, Affiliated to Bharathiar University, Coimbatore) Approved by Government of Tamil Nadu and Accredited by NAAC with 'A' Grade (2nd Cycle) Dr. N.G.P.- Kalapatti Road, Coimbatore-641048, Tamil Nadu, India Web: www.drngpasc.ac.in | Email: info@drngpasc.ac.in | Phone: +91-422-2369100 RAJAKRISHNAN M Assistant Professor in Commerce CA
- 2. Dr. NGPASC COIMBATORE | INDIA Goals – Sales Maximization Prof. J. Baumol – Objective of a modern firm – Sales maximization with a profit constraint. “the funds to pay some satisfactory rate of dividends, to re-invest for growth and ensure financial safety”
- 3. Dr. NGPASC COIMBATORE | INDIA Goals – Sales Maximization
- 4. Dr. NGPASC COIMBATORE | INDIA Goals – Sales Maximization Y axis shows TR and TC in million rupees. X axis measures the output. TR is TRC and TC is the TCC. TP denotes the Total Profit Curve and MP indicates Minimum Profit Line.
- 5. Dr. NGPASC COIMBATORE | INDIA Goals – Profit Maximization A firm will not earn maximum profits unless an additional unit of output brings in as much money as it costs to produce. A rational manager will therefore fix the output of the firm so as to equate MR with MC. Profit maximization by equating MC with MR is shown in Picture.
- 6. Dr. NGPASC COIMBATORE | INDIA Goals – Sales Maximization When the firm aims at maximizing profit, it produces OA output, because E is the highest point in the Total Profit Curve. But the firm aims at SM. This is achieved at OC level of output, as R2 is the highest point on the TR curve. OC level is greater than OA level of output , i.e, profit maximizing output. At OC level of output the firm makes total profit equal to GC and this is less than EA.
- 7. Dr. NGPASC COIMBATORE | INDIA Goals – Sales Maximization Acc to Baumol, the firm aims at SM with minimum profits. Minimum profits are shown by horizontal line MP. The Total Profit Curve cuts the minimum profit line at point D. Therefore, SM with minimum profits output will be OB corresponding to point R1 on the Total Revenue Curve. R1 is the highest possible level that is consistent with minimum profit.
- 8. Dr. NGPASC COIMBATORE | INDIA Goals – Sales Maximization Hence Sales maximizing firm expecting minimum profits will produce OB output. Though the Total Profits Curve also intersects the minimum profit line at point F, it is not the equilibrium point, as at that output of OH, the revenue realized is less than what could be achieved at point D. Hence, equilibrium of the firm with SM with profit restraint is established only at point D. Baumol’s model of SM is an alternative to the principle of PM.
- 9. 9