The Goals That an Organization Chooses to Adopt Are Defined

question 106

Essay

The goals that an organization chooses to adopt are defined by an individual or group. Different individuals have different ideas about which goals are important to pursue. In your judgment, what factor(s) should determine the priority of organizational goals? What types of goals should every organization have? Think of what goals would be important to an educational tutoring company, a Starbucks location, and a fitness center. List the goals in the order of importance, and explain why each set of goals is important for the respective company. Write your conclusions in a short essay.

Understand the relationship between price elasticity and profit maximization.

Understand the basics and implications of third-degree price discrimination in monopolistic markets.

Recognize the importance of demand elasticity in price-setting strategies for monopolists.

Comprehend how different market segments affect monopolist pricing strategies.

---

Definitions:

Absolute Necessary

A term that could imply something that is essential without any exceptions.

Basic Cable Service

A subscription service that offers a core package of television channels through a cable provider.

Price Increase

A price increase occurs when the cost of goods or services rises, resulting in consumers paying more for the same quantity or quality of product.

Revenue Increase

The rise in the total income generated from the sale of goods or services.