1) FIRM OBJECTIVES: The standard economic assumption underlying the analysis of firms is profit maximization. Real world firms‚ however‚ might not‚ and many times do not‚ make decisions based on the profit-maximization objective‚ or at least exclusively on the profit-maximization objective. Other objectives include: (1) sales maximization‚ (2) pursuit of personal welfare‚ and (3) pursuit of social welfare. Although firms are assumed to make decisions that increase profit in standard economic
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Definition of Tax ; The word ‘tax’ has been derived from the French word ‘taxe’ and the Latin word ‘taxare’ which means ‘to charge’. Tax is a contribution exacted by the state. It is a non-penal but compulsory and unrequited transfer of resources from the private to the public sector‚ levied on the basis of predetermined criteria. According to P. E. Taylor‚ “ Taxes are compulsory payment to government without expectation of direct return in benefit to the taxpayer. According to
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Does higher education lead to financial success? Some people think that people can get the financial success with a higher education. However‚ I believe that a higher education is not exactly accord with the financial success not only because pursuing a practical career is more crucial factor but also because all the people with higher education cannot get higher pay. To begin with‚ building a career is more important factor for the success than getting a high level education. I concede that
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A. FIRM AND ITS OBJECTIVE: Conventional theory of firm assumes profit maximization is the sole objective of business firms. But recent researches on this issue reveal that the objectives the firms pursue are more than one. Some important objectives‚ other than profit maximization are: (a) Maximization of the sales revenue (b) Maximization of firm’s growth rate (c) Maximization of Managers utility function (d) Making satisfactory rate of Profit (e) Long run Survival of the firm (f) Entry-prevention
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The Orion Shield Project Case Executive Summary In this paper‚ The Orion Shield Project is critically analyzed to determine how effective the project manager‚ Mr. Gary Allison‚ is in operating as leader. Specifically‚ the paper focuses on what technical‚ ethical‚ legal‚ contractual‚ and other managerial issues plague the success of The Orion Shield Project. The paper attempts to analyze these issues by first introducing the reader to background about the project‚ and
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Tax Havens One of the major ways to evade taxes is through the use of tax havens. When most people think of a tax haven‚ a tropical island where corporations and the rich hide their money from the government is typically what comes to mind‚ but that isn’t always the case. There are many separate definitions and lists of what constitutes a tax haven‚ but perhaps the most widely accepted is the criteria put forth by the Organization for Economic Co-Operation and Development. The OECD focused on “factors
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Internationalization and Firm Risk: An Upstream-Downstream Hypothesis Author(s): Chuck C. Y. Kwok and David M. Reeb Reviewed work(s): Source: Journal of International Business Studies‚ Vol. 31‚ No. 4 (4th Qtr.‚ 2000)‚ pp. 611-629 Published by: Palgrave Macmillan Journals Stable URL: http://www.jstor.org/stable/155664 . Accessed: 20/01/2013 05:04 Your use of the JSTOR archive indicates your acceptance of the Terms & Conditions of Use‚ available at . http://www.jstor.org/page/info/about/policies/terms
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Executive Summary Scientific Engineering Corporation (SEC)‚ was awarded the contract with Space Technology Industries‚ referred to as “client” to complete phase I of the Orion Shield Project. Phase I was to identify material to meet the requirements of an expanded life cycle for NASA’s Shuttle Launch Booster. An inexperienced project manager was chosen to lead this effort. This analysis identifies the technical‚ contractual‚ legal‚ ethical‚ and project management issues experienced throughout the
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In order to understand autism more than what is understood‚ psycholinguist Aaron Shield analyzed three traits deaf autistic children possess in hopes of comprehending how all autistic children acquire language‚ whether it is spoken or signed. The points consisted of the difficulty in perceiving others’ point of views by failing to imitate them while communicating in sign language‚ lack of pronoun use‚ and analyzing some of the underlying effects of the social deficits that come with autism. The first
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Working Paper # 03-115 Rev. 09/04 Conflicts of Interest and the Case of Auditor Independence: Moral Seduction and Strategic Issue Cycling Don A. Moore Carnegie Mellon University Philip E. Tetlock Haas School of Business Lloyd Tanlu Harvard Business School Max H. Bazerman Harvard Business School This paper has benefited from the feedback of Art Brief‚ George Loewenstein‚ and three anonymous reviewers of an earlier version of the paper. This paper was supported by a grant from
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