Profits

Many firms have experienced greater success through implementing relationship marketing strategies. This is achieved by gaining knowledge about their own customers through database marketing and about the general marketplace through marketing research. Over time, this has led firms to adopt a general framework which we call the conventional path to profitability. This conventional framework suggests that new product innovation leads to acquisition, acquisition combined with a rich experience leads to satisfaction, satisfaction leads to loyalty and customer retention, and loyalty/retention leads to profitability. However, we show that some of the links in the framework are weak based on both academic research and marketplace realities. Consequently, we reverse the logic of the conventional path to profitability. We introduce a new approach that starts the customer relationship management strategy with customer profitability and the notion that different customers should be rewarded a...

DOD is considering a change in policy governing the acquisition of special tooling/special test equipment (ST/STE). An IDA study team analyzed the potential effect on contractor profits, using a case study analysis to evaluate how five alternative ST/STE policies would affect target profits. Three conclusions emerged from the analysis. * First, it can be much more profitable for a company to acquire test equipment as ST and STE on behalf of the government when prices covering no more than (roughly) 70% of a company's business adjust to reflect the acquisition. * Second, acquiring ST and STE appears more profitable from the perspective of a particular contract-that is, ignoring price adjustments on other contracts than it is to the company as a whole. * Third, acquiring contractor-owned assets tends to be profitable when prices covering more than (roughly) 85% of a company 5 business adjust. In this case, however, profitability may require that the equipment be worth at least its...

: The Air Force is under pressure to maintain or improve performance while reducing costs so that it can pay for new weapon systems, force structure, and personnel retention initiatives (e.g., pay increases). The Air Force spends about one-third of its budget on purchased goods and services. This proportion should increase as the Air Force competitively sources more services. As a result, purchased goods and services offer a large and growing target area in which to seek improved performance and cost savings. The Air Force is not the only organization for which purchased goods and services can be a leading performance and cost driver. Purchased goods and services account for 50 to 80 percent of many commercial firms' total expenditures. Purchased goods and services represent such a significant performance lever and powerful competitive weapon that commercial firms are increasingly taking a more strategic approach to purchasing and supply management (PSM). Taking such an approach...

U tekstu se sociološki analiziraju, pojašnjavaju i opisuju osnovni tokovi privatizacije i tranzicije Srbije tokom poslednje dve decenije. Posebno se prati proces dezintegracije radničke klase i njeno pretvaranje u osiromašenu i marginalnu masu najvećnih gubitnika tranzicije. Tu su i osvrti na karakteristike starih/novih ekonomskih elita, odnos vladajućih i opozicionih partija prema privatizaciji i radnicima. Na primeru radničkuih štrajkova se ukazuje na razmere atomizacije radničke klase, i odnos ignorancije od strane vlasti i ekonomske elite. Na delu su procesi tzv. prvobitne akumulacije kapitala i stvaranja kapitalizma periferije. Srž tih promena čini promena vlasničke strukture, tj. privatizacija društvene svojine. Ona je okosnica šireg procesa-tranzicije, koja je jednostrano i pogrešno svedena na privatizaciju. INSTITUCIONALNI MODELI PRIVATIZACIJE U SRBIJI Pravna i stvarna " demontaža " samopupravljanja u Jugoslaviji i Srbiji započeta je izmenama Zakona o radnim odnosima krajem 1988. godine. Ovo je konkretno značilo odbacivanje uloge radničkih saveta, profesionalizaciju funkcije upravljanja, oličenu u većoj slobodi delovanja direktora preduzeća. Društvena svojina je izgubila primat nad ostalim oblicima svojine, a radnici više nisu bili jedina legitimirajuća grupa za opstanak elita na vlasti. Elementi tržišnog privređivanja već su pre toga bili prisutni, posebno osnaženi propisima i kampanjama o značaju " male " privrede i mešovite svojine. Sve što je kasnije došlo, od izmena Ustava SFRJ, saveznog i republičkih zakona o transformaciji društvene svojine, išlo je u pravcu utiranja puta nastanku kapitalističkog društva. Opšti i najvažniji faktor koji je na to uticao bio je raspad zemlje, ratna dešavanja, internacionalizacija sukoba, stvaranje nacionalnih država i " novih " društava. Ma koliko se novouspostavljene vladajuće elite trudile da se predstave originalne, po rešenjima i ponašanju koje su narodu ponudile one su bile vrlo slične. Radnici kao najmasovnija društvena grupa najviše su trpeli posledice njihovih odluka, od ratnih sukoba, privatizacije, do reformi i (ne)uspešne tranzicije društva. Privatizacija po saveznom i republičkom zakonu s početka devedesetih se nije bitnije razlikovala. Reč je o tzv. " insajderskoj " privatizaciji. Radnim organizacijama i zaposlenima je ostavljena široka mogućnost da donesu odluku o vremenu i načinu privatizacije. Najveći deo kapitala se delio među zaposlenima i bivšim radnicima. Potom su na red dolazili državni fondovi (penzioni, za nezaposlene i sl.). Prodaja, dokapitalizacija i restrukturiranje su postupci koje je predviđao republički zakon. Pošto se sve to dešavalo u vremenu masovnog gubitka posla i zajedničkog tržišta, hiperinflacije i siromašenja stanovništva, to je nedostajalo finansijskih sredstava da se obavi šira privatizacija. Radnici su dobili besplatne akcije, kojih su se kasnije brzo oslobađali prodajom po niskim cenama. Godine 1994. došlo se na ideju da se isprave " nepravde " , tj. da se preispita dotadašnja privatizacija. To je učinjeno uredbom vlade Srbije, koja je praktično poništila raniju privatizaciju društvene svojine. Umesto 44% privatnog kapitala njegov udeo nije više prelazio 4%! Najveća šteta naneta je radnicima, jer oni više nisu posedovali ni akcije, a ni sigurna radna mesta. Najveću korist imali su ljudi iz " senke " , najbliži centrima političke moći. Oni su u međuvremenu obavljali " skrivenu " , ili " spontanu " privatizaciju. Prema istraživanjima Slobodana Vukovića najvažniju ulogu imali su direktori preduzeća, ali i pojedinci iz privatnog sektora. Na razne načine oni su " tunelovali " sredstva i usmeravali ih u firme registrovane na

(Neo)liberalna globalizacija ekonomije i društva podstakla je i promene u oblasti radnog i socijalnog
zakonodavstva. Njihova primena je dovela do gubitka vec stecenih radnih prava, a uspostavljanja novih oblika
ureenja industrijskih odnosa. Izmenjena je uloga sindikata, zaposlenih, menadžmenta i poslodavaca. Nacin
i tempo kojim se to dešavalo u najvecoj je meri sistemski determinisano, odnosima moci izmeu država i
vladajucih klasa u centru, (polu)periferiji kapitalistickog sistema. U društvima u tranziciji na to su uticali i
posebni faktori, meu kojima se po znacaju isticu (ne)modernizacijski potencijali novih politickih i ekonomskih
elita. One cine srž nove kapitalisticke klase, koja je svoje interese nametnula i zaštitila kroz ekonomski,
politicki, pravni i kulturni sistem. Radno zakonodavstvo je jedan od elemenata ostvarivanja klasnih interesa.
Ono je u Srbiji posle 2000. godine znacajno liberalizovano. Najnoviji talas liberalizacije predstavlja dokaz
narušene ravnoteže moci izmeu kapitala i rada kapitala, u korist prvog. U radu se analizira suština novog
radnog zakonodavstva, njegova (ne)usaglašenost sa meunarodnim pravom, konvencijama, radnim pravom i
praksom u najrazvijenijim clanicama EU. Naglašava se da ce njegova primena dovesti do vece konkurencije
na tržištu rada, rasta nezaposlenosti, eksploatacije i siromaštva zaposlenih, a zaštiti interesa domacih i stranih
vlasnika kapitala.

This paper aims to analyse what impact does the level of digitalisation of the businesses has on its financial parameters which include sales and profits. The scope of the study is confined to the retailers with investments similar to micro and small enterprises as per MSMED Act, 2006. For the purpose of this study, online selling is considered as the basic criteria for coming into the ambit of a digitalised business. A primary study has been conducted with respondents including owners or managers of the businesses who were responsible for bringing about digitalisation of their businesses. A final sample of size 253 respondents was used for data analysis. The relationship between level of digitalisation and sales were partially mediated through market expansion and showed no mediation of customer service. The level of digitalisation had no impact on the profitability of the small scale retailers. This paper highlights the ground level reality of Indian small scale businesses and the impact of digitalisation. The findings can help formulate effective policies for building a stronger domestic business footing. The work is a contribution in understanding how digitalisation is impacting market expansion and customer service and further the financial parameters of small scale businesses.

Las ganancias son el objetivo central de la producción y el motor de la acumulación. Es el criterio último que utiliza el capitalista en la selección de nuevas técnicas de producción, y por ende una de las variables clave que condicionan el nivel y ritmo de acumulación y crecimiento. Sin embargo, no existe una única definición de ganancias y las diversas teorías económicas suelen asignarle un disímil grado de importancia. El propósito del presente trabajo es analizar, revisar y comparar las posturas teóricas neoclásicas, keynesianas, postkeynesianas y marxistas en relación a la naturaleza de las ganancias, su rol y principales determinantes así como examinar las implicancias que tiene el abordar esta temática de modo diferente. Abstract Profits are the main goal of production and the engine of capitalist accumulation. It is the ultimate criterion used by capitalists in the selection of new production techniques, and thus one of the key variables that conditions the level and rate of accumulation and growth. However, there is no single definition of profit nor the different economic theories assign equal importance. The aim of this paper is to analyze and compare the neoclassical, Keynesian, Post Keynesian and Marxist theoretical frameworks regarding the nature of profits, their determinants and role in accumulation, as well as to examine the implications of approaching this issue differently.

Abstract. The SME sector plays a very important role in the national economy, accounting for most enterprises, half of the workforce in the country and a third of  sales revenue of the country. So, the current economic state of the country depends largely on the activity of SMEs. Given the diversity of their ownership forms, there is a need to determine the contribution of companies with different forms of ownership in the SME sector. The purpose of the paper is to identify the contribution of these SMEs and its evolution, depending on the types of ownership forms of enterprises based on studying their activity indicators. Research methods that were used include: analysis of statistical data, comparison, chain indices, graphs. The results showed that private enterprises have primacy, virtually, at all activity indicators, followed by those with wholly or partly foreign capital and with wholly or partly public capital.
Key words: SME, ownership form, Moldova, turnover, employee, profit, loss. 

Adnotare. Sectorul IMM joacă un rol foarte important în economia națională, reprezentând majoritatea întreprinderilor, jumătate din forța de muncă din țară și o treime din veniturile din vânzări din țară. Starea economică actuală a țării depinde, deci, în mare măsură de activitatea IMM-urilor. Dată fiind diversitatea formelor de proprietate ale acestora, apare necesitatea de a determina contribuția companiilor cu diferite forme de proprietate în sectorul IMM. Scopul urmărit în articol este identificarea contribuţiei acestor IMM-uri şi evoluţiei acesteia în dependenţă de formele de proprietate ale întreprinderilor în baza studierii indicatorilor lor de activitate. Metodele de cercetare utilizate includ: analiza datelor statistice, comparaţia, indici în lanț, grafice. Rezultatele obţinute au arătat că întreprinderile private deţin întâietatea, practic, la toţi indicatorii de activitate, fiind urmate de cele cu capital în totalitate sau parțial străin și capital total sau parțial public.
Cuvinte cheie: IMM, formă de proprietate, Moldova, venit din vânzări, salariat, profit, pierdere.

JEL Classification: L11, L32, L33, M21.

The concept of social entrepreneurship has been differently identified by diverse researchers leading to contradicting definitions. Therefore, whether visionary social entrepreneurship results in increasing profits is a questionable in the research world. As an answer to these contradicting findings and ideas of social entrepreneurship in literature, the current study focused in explaining the characteristics and the behavior of social entrepreneurial ventures in Sri Lanka. Therefore, the focus of the study is to explain how visionary social entrepreneurship leads to create profits and to gain increasing profits in a sustainable way.

This paper aims to analyse what impact does the level of digitalisation of the businesses has on its financial parameters which include sales and profits. The scope of the study is confined to the retailers with investments similar to micro and small enterprises as per MSMED Act, 2006. For the purpose of this study, online selling is considered as the basic criteria for coming into the ambit of a digitalised business. A primary study has been conducted with respondents including owners or managers of the businesses who were responsible for bringing about digitalisation of their businesses. A final sample of size 253 respondents was used for data analysis. The relationship between level of digitalisation and sales were partially mediated through market expansion and showed no mediation of customer service. The level of digitalisation had no impact on the profitability of the small scale retailers. This paper highlights the ground level reality of Indian small scale businesses and the impact of digitalisation. The findings can help formulate effective policies for building a stronger domestic business footing. The work is a contribution in understanding how digitalisation is impacting market expansion and customer service and further the financial parameters of small scale businesses.

Cotton textile firms led the development of machinery-based industrialization in the Industrial Revolution. This paper presents price and profits data extracted from the accounting records of three cotton firms between the 1770s and the 1820s. The course of prices and profits in cotton textiles illumine the nature of the economic processes at work. Some historians have seen the Industrial Revolution as a Schumpeterian process in which discontinuous technological change created large profits for innovators and succeeding decades were characterized by slow diffusion. Technological secrecy and imperfect capital markets limited expansion of use of the new technology and output expanded as profits were reinvested until eventually the new technology dominated. The evidence here supports a more equilibrium view which the industry expanded rapidly and prices fell in response to technological change. Price and profit evidence indicates that expansion of the industry had led to dramatic price...

Hedge and risk management are hot topics for , both conventional and Islamic banks, especially in light of the large expansion in the money markets and banks collapses that occurred. It adds a new dimension to this interest in the expansion of capital markets and banking in that have occurred recently. This research examines the hedging instruments and contracts in Islamic banks and their corresponding shariah (Islamic law) rules, in the light of contemporary jurisprudence debates about the legality of these contracts.. This research deals with the study and analysis of hedge concept and its contracts in the traditional capital markets, the difference between these contracts and hedge funds, the link between the hedging and risk. It also addresses the analysis and study of some hedge contracts in Islamic banks and contracts of legitimate applications, third-party capital and profit guarantee ensuring a guarantee of the two contracting parties, sale and use of deposit protection, and other contracts. This research has the intention to add a contribution to other studies and shed light on this subject in order to reach a contemporary jurisprudence acceptance about these in the Islamic financial institutions.

In this paper, we aim at investigating if the conventional wisdom, that an increase of competition linked to a decrease in the degree of product differentiation always reduces firms’ profits, remains true in a unionized duopoly model with labour decreasing returns. In this context, mixed results emerge. In particular, we show that a decrease in the degree of product differentiation may affect wages, hence profits, differently, depending on both the mode of competition in the product market (Cournot or Bertrand competition) and the particular unionization structure (firm-specific or industry-wide union(s)). Interestingly, it is shown that the conventional wisdom can actually be reversed, even if under Bertrand competition only.

This article is the second in a series to celebrate the 70th anniversary of the ILR Review. The series features articles that analyze the state of research and future directions for important themes this journal has featured over many years of publication. In this article, the authors assess the credibility of research that has tested the theoretical contests between the monopoly and the collective voice model of unions developed by Freeman and Medoff in What Do Unions Do? The authors go beyond prior analyses by examining more than 2,000 estimates that consider the effects of unions on a broad range of organizational and individual outcomes, including productivity, productivity growth, capital investment, profits, and job satisfaction. They advance our understanding of the current empirical findings and credibility of this research by using meta-statistical analysis to evaluate research quality, publication selection bias, statistical power, and heterogeneity. The authors conclude that compared to other areas of economics, research on union effects has lower bias but larger problems of statistical power. They argue that Freeman and Medoff's monopoly–collective voice model helped produce more credible results, and they suggest ways to reduce the power and heterogeneity problems in existing research.