Rational Management Responses to External Effects.

1 March 1971

journal article
Published by Academy of Management in The Academy of Management Journal

Vol. 14 (1) , 99-115
https://doi.org/10.2307/254714

Abstract

This paper is a discussion of the external or side effects of business and rational responses to these external effects for profit-maximizing firms.¹ Some people would argue that the rational response for the profit-maximizing firm is to do nothing about its external effects until required by law; whereas others, as we in this paper, argue that the rational response for the profit-maximizing firm is to take some action.

Keywords

INDUSTRIAL MANAGEMENT
BUSINESS ENTERPRISES -- ENVIRONMENTAL ASPECTS
CORPORATIONS -- FINANCE
SOCIAL RESPONSIBILITY OF BUSINESS
PROFIT MAXIMIZATION
EXTERNALITIES (ECONOMICS)
PROFITABILITY
CORPORATE PROFITS
POLLUTION PREVENTION -- ECONOMIC ASPECTS
PERFORMANCE STANDARDS

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