To stay competitive by creating higher value for consumers firms are in constant search for strategies and tactics that will maximize profit. Profits can be maximized by increasing per unit revenue, decreasing unit cost or a mix of both. This study has identified ten different approaches:...

We question the broad applicability of the assumption of profit maximization as the goal of the firm and investigate how variance in objective functions across different ownership structures affects competitive behavior. While prior work in agency theory has argued that firms may fail to engage...

The purpose of this article is to develop an ordonomic conceptualization of corporate citizenship and new governance that (a) provides a framework for positively explaining the political participation of companies in new governance processes and (b) does not weaken but instead strengthens the...

The current economic crisis has raised serious questions about the doctrine of shareholder value maximization. In light of these questions we find corporate executives increasingly expressing doubts and confusion over what the proper goal of their businesses should be. Meanwhile, many observers...

Based on a series of corporate surveys, the paper reveals the peculiarities of strategy processes in Russian companies. The data suggests that the fragile balance of power between the top management and the dominant owners leads to establishing of sets of hardly combined goals. The necessary...