Chapter 2.  Nature of the Firm; Economic Organizations: Transaction Cost Theory, Motivation Theory, Property Rights Theory (Section 2.2)  Basic Profit.

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Presentation transcript:

chapter 2

 Nature of the Firm; Economic Organizations: Transaction Cost Theory, Motivation Theory, Property Rights Theory (Section 2.2)  Basic Profit Maximizing Model (Section: 2.3)  Multi-product Strategies Product Line Profit Maximization & Product Mix Profit Maximization (Section 2.7)

 Project Name: Case study of firm….. Specialist in the field of….. (industry name)  An entrepreneurial venture in the field of …………..(sector name)

 Identify a manufacturing company in NCR: -mention the background and a snapshot of its strengths and opportunities, which it used to enter business  Find its nature on the basis of TIMAPG (each sub topic category)

 Explain the 4 factors of production.. Identify the type of land (includes raw material, land, building), labor (fixed variable/ permanent temporary), capital (finance management) and the entrepreneurship (talent and the nature of entrepreneurship)  Explain 4 Ps: product: product mix.. Product line.. , price: of products, place: of production and the market, promotion and the strategies used in finalizing them

 Basic Profit Maximizing Model: How are decisions taken by the firm pertaining to production…how much production how much buffer kept, how much can be prepared JIT (just in time: promptly)  Cost of production.. Of say monthly output and how much is output  Is MC=MP criteria used…when

 Companies strategies to attract customers: 5- 6 Application of Bait and switch tactic And Bait and Add tactic model..

 How the company started  Its USP: unique selling proposition  Utilization of factors of production  The 4 ps of marketing  The profit maximization model  For single and multiple production firm

 Plan of action: Tomorrow  Preparation today:  Who will provide information and support  Who will do what..