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Alternative Theories of Firm
- Outline some of the reasons why the neo-classical theory of the firm may have been considered out of date by the early 20th century.
- Identify the key differences between a private (Ltd. Co.) and a public limited company (Plc).
- Identify the various stakeholder groups (and their prime objective(s)), of any large modern business organisation.
- Identify some of the possible conflicts between the objectives between these various ‘stakeholder groups’.
- What is the essential difference between the ‘neo-classical and ‘managerial theories’ of the firm?
- Outline the key features of the Baumol, Marris and Williamson theories and in which respect is Williamson distinctive?
- In which key respect is ‘Behavioural Theories’ different from Managerial theories?
- Do any of the above theories, and the neo-classical theory, have any relevance to the current UK consumer energy market?
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