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Homework answers / question archive / What is the purpose of a firm? As a manager, to what extent should I care about how much my actions are contributing to the welfare of others?

What is the purpose of a firm? As a manager, to what extent should I care about how much my actions are contributing to the welfare of others?

Management

What is the purpose of a firm? As a manager, to what extent should I care about how much my actions are contributing to the welfare of others?

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Firms offer professional services and goods to their clients. Also, they employ various factors of producing services and goods like labour and paying wages. Furthermore, they create new products in response to the needs and wants of their customers. In addition, they invest in capital and innovations that maximize their profits. As a Manager I should ensure that I apply ethical skills in leadership, decision making that has ethical frameworks, and duties as provided in the law and operating within the code of conduct of an organization.