do you think that the business responsibility ends after gaining profit or a large market share?
Answers
Answer:
In recent years, a growing number of business practitioners and theorists have postulated that one way for a company to increase its return is by increasing its market share, and studies appear to have confirmed this relationship. But the authors of this article refuse to accept the blanket inference that “more” is necessarily always going to mean “better.” A large market share, they point out, can spell more trouble as well as more profit for a company; a given project promising higher returns than others will surely entail greater risks as well. Given this direct link between profit and risk, it behooves companies to manage their market shares with the same diligence as they would manage any other facet of their businesses. This concept of managing market shares leads to some intriguing possibilities. Although most companies can profit by attempting to increase their market shares, some may conclude that they are at (or possibly beyond) the point at which expected costs and risks outweigh expected gains. The authors suggest various strategies that these companies might consider in attempting to manage their market shares.
ANSWER :
NO
the business responsibility does not ends after gaining profit or a large market share.
EXPLANATION :
No of their size, firms or corporations must take their social and environmental duties into account.
Market share is a critical indicator of market competitiveness; executives can use it to assess overall market growth or decrease, pinpoint important consumer behaviour trends, and assess their own market potential and market opportunity.
Taking into account the economics, ecology, and society is what is meant by "responsible business."
By providing ecologically safe, ethical, and egalitarian employment opportunities, these companies aim to enhance life for all people.
The shareholders or owners who have made financial investments should be the subject of a company's first and most crucial duty.
A company's first and most important duty should be to its shareholders or owners who have made financial investments.
Research and development, QA, and brand creation all contribute to market share or profit. However, a company's market share typically exhibits greater stability than its profit margins, making it a more accurate predictor of growth. Both a high profit margin and a sizable market share are ideal for a business.
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