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Goals, Production Factors and Results

In: Principles of Management

Author

Listed:
  • Peter Eichhorn

    (OPINIO Forschungsinstitut)

  • Ian Towers

    (SRH Hochschule Berlin)

Abstract

The chapter discusses the role of goals for economic entities. Different types of goals are identified, such as original and derived goals, successive and simultaneous goals, complementary and competing goals. Goals become part of a goal system with formal goalsGoals formal and economic, ecological and social goals. Different forms of economic entity have different goal systems and goal concepts. The factors of production are discussed, and a universal system of factors is introduced consisting of seven interlinked factors of productionFactors of production personnel : personnel, capital, material, energy, services, the law and the natural environment. The use of factors as inputs is discussed along with the diseconomiesDiseconomies they can cause. The outcomesOutcomes of the use of factors of production are discussed, with output, outcome and impact being identified as types of result. The chapter concludes by reviewing ways in which the effects can be measured.

Suggested Citation

  • Peter Eichhorn & Ian Towers, 2018. "Goals, Production Factors and Results," Springer Texts in Business and Economics, in: Principles of Management, chapter 5, pages 115-155, Springer.
    • Handle: RePEc:spr:sptchp:978-3-319-70902-4_5
    DOI: 10.1007/978-3-319-70902-4_5
    as

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