nach oben

Erschienen in:

2021 | OriginalPaper | Buchkapitel

3. The Goal

verfasst von : Hermann Simon

Erschienen in: True Profit!

Verlag: Springer International Publishing

Einloggen

Aktivieren Sie unsere intelligente Suche, um passende Fachinhalte oder Patente zu finden.

search-config

KI-gestützte Suche

Aus

Abstract

In this chapter we will deal with the economic aspects of earning profits and of profit orientation. We will explore the ethical questions surrounding profit in Chap. 4.

Sie haben noch keine Lizenz? Dann Informieren Sie sich jetzt über unsere Produkte:

Springer Professional "Wirtschaft+Technik"

Online-Abonnement

Mit Springer Professional "Wirtschaft+Technik" erhalten Sie Zugriff auf:

über 102.000 Bücher
über 537 Zeitschriften

aus folgenden Fachgebieten:

Automobil + Motoren
Bauwesen + Immobilien
Business IT + Informatik
Elektrotechnik + Elektronik
Energie + Nachhaltigkeit
Finance + Banking
Management + Führung
Marketing + Vertrieb
Maschinenbau + Werkstoffe
Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

Jetzt informieren

Springer Professional "Wirtschaft"

Online-Abonnement

Mit Springer Professional "Wirtschaft" erhalten Sie Zugriff auf:

über 67.000 Bücher
über 340 Zeitschriften

aus folgenden Fachgebieten:

Bauwesen + Immobilien
Business IT + Informatik
Finance + Banking
Management + Führung
Marketing + Vertrieb
Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

Jetzt informieren

Vorheriges Kapitel In Search of Profit

Nächstes Kapitel The Ethics of Profit

See Goldratt [1].

The idea from William R. Baumol, that managers should pursue revenue maximization, is also widely known. Baumol says: “Businessmen see some connection between scale and profit. In my dealings with them I have been struck with the importance they attach to the value of their sales.” Baumol [2]. For a deeper discussion, see also Sandmeyer [3] and Anderson [4]. This working paper can be found on numerous homepages.

Drucker [5].

Drucker has also interpreted profit as the cost of future risks, by asking: “What is the minimum profitability needed to cover the future risks of the business?,” Drucker [6].

We refer the reader to the standard text Keeney and Raiffa [7]. There are also several journals devoted to this theme, such as Journal of Multi-Criteria Decision Making, International Journal of Multicriteria Decision Making, Multiple Criteria Decision Making.

See Kaplan and Norton [8].

See Schäffer and Weber [9].

See “Transformation der Tech-Riesen,” Frankfurter Allgemeine Zeitung, May 4, 2019, p. 24.

See “Softbank Takes a $4.6 Billion Hit from WeWork,” New York Times, November 6, 2019; see also https://www.wsj.com/articles/the-money-men-who-enabled-adam-neumann-and-the-wework-debacle-11576299616.

Thiel [10].

Buzzell and Gale [11].

Farris and Moore (editor) [12].

Ailawadi et al. [13].

Lee [14].

Edeling and Himme [15].

Edeling [16].

See Sklenarz et al. [17].

Ibid., p. 9.

Lanzillotti [18].

Scott Armstrong and Green [19]; see also Scott Armstrong and Collopy [20].

Rego et al. [21].

Miniter [22].

Cespedes [23].

Chu et al. [24].

See Rieger [25].

Schulze [26].

See Rappaport [27].

Rappaport [28].

“Chinas Kaffeehauskette expandiert—Luckin will Starbucks auf den zweiten Platz verdrängen”, Frankfurter Allgemeine Zeitung, January 4, 2019, p. 19.

“YouTube CEO takes on TV, Web Rivals,” The Wall Street Journal, June 8, 2016, p. B5.

Mankins [29].

See Simon [30].

For a deeper treatment, see Blanpain et al. [31].

Mizik and Jacobson [32]; see also “Myopic Marketing Management: Evidence of the Phenomenon and Its Long-Term Performance Consequences in the SEO Context,” Marketing Science, May–June 2007, pp 361–379 as well as Mizik [33].

See Emminghaus [34]; as well as Brockhoff [35].

See Lahlou [36].

See “Efficiencies of Scale May Be a Myth,” Harvard Business Review, March–April 2019, p. 22; see also Ertan et al. [37].

Goldratt, E. P. (1992). The Goal, Great Barrington: North River Press.

Baumol, W. J. (1967). Business Behavior, Value and Growth, revised edition, New York: Harcourt, Brace & World, 45.

Sandmeyer, R. L. (1964). Baumol’s Sales-maximization Model: Comment, American Economic Review, 54, 1073–1080.

Anderson, W.L. (unpublished). Profit maximizing versus revenue maximizing firms? Only Time will Tell, working paper, College of Business, Frostburg State University, Frostburg.

Drucker, P. (2001). The Essential Drucker, New York: Harper Business, 38.

Drucker, P. (1975, February 5). The delusion of ‘profits’. The Wall Street Journal, 10.

Keeney, R. L, & Raiffa, H. (1993). Decisions with Multiple Objectives: Preferences and Value Tradeoffs, Cambridge: Cambridge University Press.CrossRef

Kaplan, R. S., & Norton, D. P. (1996). The Balanced Scorecard: Translating Strategy into Action, Boston: Harvard Business School Press.

Schäffer, U. & Weber, J. (2019). Kennzahlen sollten die Realität zeigen, Frankfurter Allgemeine Zeitung, 16.

10.

Thiel, P. (2014). Zero to One: Notes on Startups or How to Build the Future, London: Virgin Books, 591

11.

Buzzell, R. D., & Gale, B. T. (1987). The PIMS Principles: Linking Strategy to Performance, New York: The Free Press.

12.

Farris, P. W., & Moore, M. J. (eds) (2004). The Profit Impact of Marketing Strategy Project: Retrospect and Prospects, Cambridge: Cambridge University Press.

13.

Ailawadi, K. L., Farris, P. W., & Parry, M. E. (1999). Market Share and ROI: Observing the Effect of Unobserved Variables. International Journal of Research in Marketing, 16(1), 31.

14.

Lee, J. (2009). Does Size Matter in Firm Performance? Evidence from US Public Firms. International Journal of the Economics of Business, 16(2), 200.

15.

Edeling, A., & Himme, A. (2018). When Does Market Share Matter? New Empirical Generalizations from a Meta-analysis of the Market Share-Performance Relationship. Journal of Marketing, 82(3), 1–24.

16.

Edeling, A. (2015). Does Market Share Matter? New Empirical Generalizations from a Meta-analysis, working paper, Economics and Social Science Faculty, University of Cologne.

17.

Sklenarz, F. A., Himme, A., & Edeling, A. (2019). Digital transformation and marketing performance measurement–How the ‘old’ market share-performance relationship does not hold anymore. In: Paper presented at the annual conference of the European Marketing Academy, Hamburg.

18.

Lanzillotti, R. F. (1958). Pricing Objectives in Large Companies, The American Economic Review, 48(5), 921–940.

19.

Armstrong, J. S., & Green, K. C. (2007). Competitor-oriented Objectives: the Myth of Market Share. International Journal of Business, 12, 117–136.

20.

Armstrong, J. S., & Collopy, F. (1996). Competitor Orientation: Effects of Objectives and Information on Managerial Decisions and Profitability. Journal of Marketing, 2, 188–199.

21.

Rego, L. L., Morgan, N. A., & Fornell, C. (2013). Reexamining the Market Share-Customer Satisfaction Relationship. Journal of Marketing, 77, 1–20.CrossRef

22.

Miniter, R. (2002). The Myth of Market Share: Why Market Share Is the Fool’s Gold of Business, New York: Crown Business.

23.

Cespedes, F. V. (2014). Aligning Strategy and Sales: The Choices, Systems, and Behaviors that Drive Effective Selling, Boston: Harvard Business Review Press, 45.

24.

Chu, W., Chen, C., & Wang, C. (2008). The Market Share–Profitability Relationships in the Securities Industry. The Service Industries Journal, 28(6), pp. 813–826

25.

Rieger, W. (1928). Einführung in die Privatwirtschaftslehre, 1st edn (unchanged 2nd edn (1959)), Palm & Enke, Nuremberg: Palm & Enke.

26.

Schulze, H. (2019). Excellence Wins, Grand Rapids: Zondervan, 32.

27.

Rappaport, A. (1986). Creating Shareholder Value: A Guide for Managers and Investors, New York: The Free Press.

28.

Rappaport, A. (1998). Creating Shareholder Value: A Guide for Managers and Investors, New York: The Free Press, foreword.

29.

Mankins, M. (2017). Stop focussing on Profitability and Go for Growth. Harvard Bus Rev. Accessed on 1 May 2017, https://hbr.org/2017/05/stop-focusing-on-profitability-and-go-for-growth

30.

Simon, H. (2016). Negative Preise – ein neues Phänomen, Marketing Review St. Gallen, 2, 76–81.

31.

Blanpain, R., Bromwich, W., Rymkevich, O., & Senatori, L. (eds) (2011). Rethinking Corporate Governance: From Shareholder Value to Stakeholder Value, New York: Wolters Kluwer.

32.

Mizik, N., & Jacobson, R. (2007). The Cost of Myopic Management. Harvard Business Review, July-August, p. 22

33.

Mizik, N. (2010). The Theory and Practice of Myopic Management. Journal of Marketing Research, 47/August, 594–611.CrossRef

34.

Emminghaus, A. (1868). Allgemeine Gewerkslehre, Berlin: F. A. Herbig, S. 69.

35.

Brockhoff, K. (2013). Was bedeutet eigentlich ‘Shareholder Value’?, speech, WHU Koblenz, June 5.

36.

Lahlou, I. (2019). Corporate Board of Directors: Structure and Efficiency, Cham: Springer Nature.

37.

Ertan, A., Lewellen, S., & Thomas J. K. (2018). The Long-run Average Cost Puzzle. Accessed 1 May 2018 on https://ssrn.com/abstract=3178202

Titel: The Goal
verfasst von: Hermann Simon
Verlag: Springer International Publishing
Buch: True Profit!
Print ISBN: 978-3-030-76701-3

Electronic ISBN: 978-3-030-76702-0

Copyright-Jahr: 2021
DOI: https://doi.org/10.1007/978-3-030-76702-0_3

Springer Professional

Abstract

Bitte loggen Sie sich ein, um Zugang zu Ihrer Lizenz zu erhalten.

Sie haben noch keine Lizenz? Dann Informieren Sie sich jetzt über unsere Produkte:

Springer Professional "Wirtschaft+Technik"

Springer Professional "Wirtschaft"

Premium Partner