What is Classical View in Strategic Management? PDF Book

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.

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