It’s not in the company’s interests . . . ’’ “The company thinks that . . . ’’ “From the company’s viewpoint . . . ’’ “As far as the company is concerned. . . ’’—all of us have heard, perhaps even used, expressions that treat a business organization like a person or at least like a separate and distinct entity. Capitalism permits the creation of companies or business organizations that exist separately from the people associated with them. We take the existence of companies for granted, and some experts go so far as to say that the company is “the most important organization in the world.’’ Do you agree that companies exist in their own right and are the most important organizations in the world today? please help with this discussion

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
icon
Related questions
Question

“It’s not in the company’s interests . . . ’’ “The company thinks that . . . ’’ “From the company’s viewpoint . . . ’’ “As far as the company is concerned. . . ’’—all of us have heard, perhaps even used, expressions that treat a business organization like a person or at least like a separate and distinct entity. Capitalism permits the creation of companies or business organizations that exist separately from the people associated with them. We take the existence of companies for granted, and some experts go so far as to say that the company is “the most important organization in the world.’’ Do you agree that companies exist in their own right and are the most important organizations in the world today?

please help with this discussion
Expert Solution
Step 1: Companies are legal entities

Companies are legal entities that are created by people to achieve a specific purpose, such as making a profit or providing a service. They are separate from the people who own them or work for them. This means that companies can sue and be sued, own property, and enter into contracts.

Companies are important because they play a vital role in the economy. They create jobs, produce goods and services, and invest in new technologies. However, I do not believe that they are the most important organizations in the world today.

There are many other organizations that are also important, such as governments, non-profit organizations, and educational institutions. These organizations play a vital role in society by providing essential services, promoting social welfare, and advancing knowledge.

Ultimately, the importance of an organization depends on its goals and objectives. Some organizations may be more important than others, depending on the context.

trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

Blurred answer
Knowledge Booster
Fractional Ownership
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
Economics
ISBN:
9780190931919
Author:
NEWNAN
Publisher:
Oxford University Press
Principles of Economics (12th Edition)
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education