The implications of discarding the profit maximization assumption for the effectiveness and efficiency of the market system relate to the imbalance of the economic laws of supply and demand, which is responsible for the sustainable functioning of the market.
<h3 /><h3>What are profit maximization assumptions?</h3>
It corresponds to the theory that the main purpose of a company is the maximization of profits, with decision making based on this purpose, identifying the best market opportunities and the strategy associated with this objective.
By developing a profit maximization strategy, companies become more competitive and aligned with demand and its characteristics, making the offer balanced, with the allocation of resources necessary for effective fulfillment of demand.
Therefore, the balance of supply and demand helps in sustainable production and pricing, developing the economy and the global market.
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The correct answer to this open question is the following.
Japan is dealing with economic concerns about an aging population in the following way. The Japanese government is inviting the seniors in Japan to not retire, instead, encouraging them to continue to work and be productive. Statistics show that 20 to 22% of Japan's population is seniors, older than 65 years. So that is why the Japanese government invites people to keep on being productive, generation some income for them, and extending the moment in which the government has to pay pensions.
Pero, ¿cuál es tu pregunta?
Answer:
<em><u>short-termism
</u></em>
Is the acting upon short term vision of the needs and problems that must be addressed. It is a problem because the vision that is important is the Long path vision.
<em><u>What is “longpath” and why did Wallach develop the concept? </u></em>
Is a concept that combines long term vision and goal oriented. Wallach develop that concept as he did not find a term that frame what is intended in the long run that was goal oriented.
<em><u>Briefly discuss each of the three ways of thinking that Wallach describes. </u></em>
Transgenerational thinking: Thinking the impact of your actions in the future generations to come.
Futures thinking: The future is not related only with better technology but with how will human relationships, moral, art and feelings like compassion will evolve.
Telos thinking: This is an invitation to think having in mind what is the "ultimate aim" of our actions as little of they might be. It is important to raise the question: how this action that I am doing now will impact or change the future in 20,50 or 100 years to come.
<em><u>How does Wallach relate the future to a part of speech?
</u></em>
Wallach make a link between Thomas Khun quote: “People don’t shift unless they have a vision of what it is they’re shifting to.” an Martin Luther King Speech of "I Have a Dream" he says that that speech is successful as it shows what is the vision of what a dream must looks like
The thing which senior managers engage in when they structure the organizational relationships to work cooperatively to achieve goals is:
- Efficiency and Effectiveness.
<h3>What is Efficiency?</h3>
This refers to the ability to perform a task or tasks quickly, accurately and with minimal error.
With this in mind, we can see that when senior managers prioritize <em>efficiency and effectiveness</em> in their organizational structure, then they would easily accomplish goals.
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