As an Amazon Associate I earn from qualifying purchases.

Classical View Definition and Explanation PDF | Download eBooks

Learn Classical View definition in strategic management with explanation to study “What is Classical View”. Study classical view explanation with strategic management terms to review strategic management course for online MBA programs.

Classical View Definition:

  • View that management's only social responsibility is to maximize profits.

    Management by Stephen P. Robbins, Mary A. Coulter



Classical View Explanation:

The major rule of the old style hypothesis is that the economy is self?regulating. Old style financial specialists keep up that the economy is constantly equipped for accomplishing the regular degree of genuine GDP or yield, which is the degree of genuine GDP that is gotten when the economy's assets are completely utilized. While conditions emerge every now and then that reason the economy to fall beneath or to surpass the common degree of genuine GDP, self?adjustment instruments exist inside the market framework that work to take the economy back to the characteristic degree of genuine GDP. Regarding financial strategy, the traditional business analysts were businesslike dissidents, pushing the opportunity of the market, however they saw a job for the state in accommodating the benefit of all. The traditional market analysts delivered their "heavenly elements" during a period wherein free enterprise was rising up out of feudalism and in which the Industrial Revolution was prompting immense changes in the public eye.

Keep Learning Strategic Management Explanations

What is Slack Time?

Slack time is really an expert term utilized in task the board to help individuals make sense of exactly how ...

What is Unity of command?

Unity of command or Solidarity of order implies that all powers work under a solitary administrator with the imperative specialist ...

What is Distributive Justice?

The term distributive equity alludes to reasonableness in the manner things are conveyed, thinking progressively about how it is chosen ...

What is Classical View?

The major rule of the old style hypothesis is that the economy is self?regulating. Old style financial specialists keep up ...

What is Intellectual Property?

Intellectual property (IP) alludes to manifestations of the brain, for example, developments; scholarly and imaginative works; structures; and images, names ...

What is Nonprogrammed Decisions?

Non-programmed decisons or choices are exceptional. They are regularly not well organized, one-shot choices. Generally they have been dealt with ...