Presentation on theme: "Identify the various goals of producers. Producer Goals Producers have many different goals beyond what is obvious. It is important to differentiate between."— Presentation transcript:
Identify the various goals of producers
Producer Goals Producers have many different goals beyond what is obvious. It is important to differentiate between long term & short term goals. Goals can also come in conflict with each other as one may prevent another from being achieved.
Profit Maximisation This means to make the greatest amount of profit possible within the boundaries of good business practice. This does not mean... Ripping off your customers Under paying & overworking your staff & other resources Treating your customers & your staff well promotes goodwill & generally results in good business
Think about it... If you were in business what would you want to get out of it? What would be your goals? The first goal for all producers is to be financially viable. This means to make enough money to stay in business/keep operating
Satisficing.. This means making a satisfactory amount of profit. It could mean that the producer could have made more profit but choose to accept less in order to pursue other goals
Market Share Producers may also aim to increase their market share. This means that for a certain good or service the increase their share of sales at the expense of Competitors. They could do this by offering: Low prices Value for money A wider product range Good service
In the spirit of good will.... People are not always in it for the money... Producers may also wish to be seen as community minded. Other producer goals include: Sponsoring local schools, athletes, clubs etc Providing Scholarships Supporting community projects..
Non Profit Organisations The main goal for non profit organisations or voluntary organisations is to provide a service to its members, groups and or the wider Community There is still the need to cover the costs of production
Essential Goods & Services When a good or service is essential it is provided by the government both central & local. It is generally not viable (“do able”) for a private sector producer to provide.
Government Goals What could be the goal of government when producing goods & services for the public? Keeping Voters Happy…..? Providing the best good and or services that the nation can afford? “Balancing the Books”