Please describe profit as a business objective, according to Peter F Drucker.
Please describe profit as a business objective, according to Peter F Drucker.
Jeeba Aug. 10, 2018
As per Peter F Drucker, businesses cannot be explained in terms of profit. The economic criterion of maximising profits for a firm has little relevance in the present times. Profit maximization, in simple terms, is selling at a higher price than the cost.
It is long-term perspective and includes the development of wealth and several non-financial factors such as goodwill, societal factors, relations and so on.
