Firms best suited to the economic environment

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Reference no: EM131002355

Natural selection is the notion that firms best suited to the economic environment are the ones that tend to survive. Those firms that approximate the goal of profit-maximization, whether intentionally or accidentally, are the ones most likely to survive and remain in business. This provides justification for presuming that business firms seek to maximize profit, even though they might pursue other goals on a day-to-day basis. Even if firms do not consciously pursue the profit-maximization goal, assuming they do is not unreasonable. In your post, discuss whether you agree or disagree with the notion that the most successful firms in an industry are those whose goal is profit maximization. Include in your discussion how this goal could be at odds with other goals such as worker quality of life and corporate social responsibility.

Reference no: EM131002355

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