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Profit big businessman is the primary goal of all business ventures. Without lucrativeness the business will not survive in the prospicient run. So measuring current and past profitability and project future profitability is very important. Don Hofstrand, extension value-added husbandry specialist, co-director Ag Marketing Resource Center-hypertext transfer protocol://www.extension.iastate.edu/agdm/wholefarm/html/c3-24.html-updated2009 ____________________________________________________________ _____________________________Lasse Lien |http://organizationsandmarkets.com/2006/08/23/four-theories-of-profit/ The word equilibrium should perhaps be employ sparingly here in this Austrian stronghold. Nevertheless(prenominal), I shall hold to use it once or twice below. One of the biggest buzzes at the recent Academy of Management meeting in capital of Georgia was Richard Makadoks paper, Four Theories of Profit and Their Interaction. Makadoks main oral sex was that we spend a penny four main classes of theories/mechanisms explaining positive profits in equilibrium, and that while we know a great deal intimately each theory individually, we do not know a good deal about their fundamental interaction. I certainly agree that studying the interaction between such theories is worthwhile, and there is a lot to same about Makadoks paper (which I BTW only have an older version of, therfore no link).

What I am less sure about is what these basic theories should be, and how independent the four theories suggested by Makadok documentaryly are. His candidates are 1) Collusion (i.e. Porter/Bain/Mason) 2) Competence/Capabilities (i.e. Ricardo/Penrose/Wenerfelt) 3) Timing, which has dickens sub-versions 3a) the ability to deter imitation by committing early (i.e. Stackelberg, Spence, Dixit), and 3b) flexibility, the ability to commit late when major uncertainties have been resolved (i.e. real options and dynamic capabilities). 4) Governance costs (i.e. transaction costs economics, theatrical theory, property rights). Consider for example the first one, collusion. Collusion... If you want to pass a full essay, order it on our website: Ordercustompaper.com

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