3.2.1 Profit Satisficing (Edexcel A-Level Economics Teaching PowerPoint)
Last updated 28 Aug 2023
Here is a simple, editable PowerPoint covering the content of Unit 3.1.2 on Profit Satisficing as a business objective.
Satisficing involves the owners of a business (shareholders) setting minimum acceptable levels of achievement of revenue and/or operating profits to managers (agents)
The term "satisficing" is a combination of "satisfy" and "suffice," and it suggests that instead of trying to find the best possible outcome, decision-makers settle for options that meet a certain minimum level of criteria.
Satisficing means that a business is making enough profit to keep shareholders happy, or it is sufficient for investors to maintain confidence in the management they appoint.
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