The profit maximisation goal should not be considered the sole goal of the firm

Introduction So much has been written about the role of the Human Resource Management HRM function and its ability to respond to competitive pressures Foote, Within such approaches is an implicit assumption that gaining employee commitment to the organisation's goals is possible and indeed crucial Foote,

The profit maximisation goal should not be considered the sole goal of the firm

Introduction So much has been written about the role of the Human Resource Management HRM function and its ability to respond to competitive pressures Foote, There is evidence, however, of a gap between the rhetoric and reality of HRM in that many organisations are eroding job security, while at the same time increasing the demands made of employees Foote, It is this gap that has led researchers such as Legge and Purcell and Hutchinson for instance, to postulate that restructuring initiatives and work intensification have contributed to employee demoralisation, de-motivation and alienation, instead of enhanced engagement thereof and raises critical ethical concerns.

In determining the ethical course of action, HR professionals have to consider their dual memberships in the business organization and in the profession.

Because professionals place a premium on expertise, specialization and objectivity, they are appalled when they observe managers making decisions based upon non-objective techniques, intuitive speculation or seat-of-the-pants approaches Wiley, Given the foregoing, the salient question that then follows is: Admittedly, there is no one right approach to illuminating and understanding this question.

The profit maximisation goal should not be considered the sole goal of the firm

Yet, as Wiley Indeed, there has been an increasing interest generally in business ethics, particularly in the U.

Through the integration of literatures in human resources, management studies and philosophy, this paper seeks to direct the attention of scholars and practitioners alike to these ignored aspects of HR ethics. In doing this, the paper critically examines contemporary debates and emerging themes around HR ethics, raising a number of fundamental ethical questions which current literatures alluded to but failed to address in line with the changing realities of contemporary business environment, particularly the management of people.

[BINGSNIPMIX-3

This analysis is intended to help explain and elicit further debates on the many shortcomings inherent in contemporary thinking about HR ethics.

In this regard therefore, the overall aim of the article is to provide a research agenda to identifying realistic strategies and conceptual lenses for addressing issues of HR ethics in contemporary people management. It is this critical need that presents the immediate major challenge to management scholars and Human Resource HR practitioners and engenders most of the theory — practice gap.

As Stewart and Rigg point out, despite the long-standing effort at theorising and understanding the concept of ethics and making it practical, there is relatively little agreement or certainties, even as there are many different perspectives on meanings and applications.

Indeed, the concept has defied a univocal definition; neither is there any single understanding.

Acknowledgements

Fisher and Lovell attribute this development partly due to the fact that there are very few studies of ethics built on theoretical positions, but are largely based on beliefs and arguments. It is this line of reasoning that perhaps, informs Stewart and Rigg This development notwithstanding, some scholars have attempted to provide a better understanding of the concept.

This view is consistent with that of Stewart and Rigg Torrington and Hall A broader definition of the concept is presented by Cornock and Johns to include: We all make ethical decisions every day.

There is no such thing as private morality.So, profit maximization should be considered as a sole parameter but wealth maximization should be the main motive of any firm. ROLL NO Views · View 1 Upvoter. ECONOMICS CHAPTER 1- INTRODUCTION TO ECONOMICS Assumed 3 decision makers- consumers (households) – that sell land, labour, capital & entrepreneurship and firms- that pay rent, wages, interest and profits (rewards for above factors of production) firms then use the factors to produce G/S in return for payment from consumer.

Moderation / Criticism / Exposition / Exposés David Aaronovitch.

Is Profit Maximization an Appropriate Goal - Management Guru | Management Guru

Catholics try, rather unconvincingly, to show how conferring sainthood is different in principle to the pagan apotheosis (the process that made Claudius, for instance, into a God), but the distinction doesn't quite wash.

. In an attempt to determine how corporate directors make or should Within neoclassical economic theory. ADVERTISEMENTS: Some of the profit maximisation goal should not be considered the sole goal of the firm the important types of pricing strategies normally adopted by firm are as follows: 1 Pricing a New Product: Pricing is CHANNELS.

Moderation / Criticism / Exposition / Exposés David Aaronovitch. Catholics try, rather unconvincingly, to show how conferring sainthood is different in principle to the pagan apotheosis (the process that made Claudius, for instance, into a God), but the distinction doesn't quite wash.

Sustainability - Wikipedia

. The history of sustainability traces human-dominated ecological systems from the earliest civilizations to the present day. This history is characterized by the increased regional success of a particular society, followed by crises that were either resolved, producing sustainability, or not, leading to decline..

In early human history, the use of .

Reliance Industries Limited Annual Report