Marketing management, Virtual control, Development economics, Environmental resource control, Marketing Resource Management, Business model, Out of home commercials, Commercial management, Financial audit, Organizational space, Williamson’s model of managerial discretion, Capital budgeting, Financial control, Vertical integration, Marketing Operations Management, Supervisory board, Environmental economics, Value chain, Index of management articles, Pointy haired Boss, Management accounting, Configuration control, Organizational experiences, Pearson Prentice Hall, Association control, Executive compensation, Annual typical assembly, Sex in advertising, Online ads, Competitive intelligence, Certified Business Manager, Market share, Enterprise useful resource planning, International finance, Management advice system, Strategic group, Product lifecycle, Outline of company management, Market analysis, Product differentiation, Change management, Content control, Skills management, Marketing mix, Managerial economics, Management consulting, Distributed control, Cash conversion cycle, Public finance, Land management, Management style, Sales force control system, Business advancement, Customer loyalty, Mobile advertising, Team constructing, Music on hold, Human resource management, Market economic climate, Managerial psychology, Working capital, Organizational verbal exchange, Material requirements making plans, Corporate propaganda, Corporate crime, Marketing effectiveness, Electronic business, Sales forecast, Public economics:Williamson’s model of managerial discretionhttp://Oliver E. Williamson hypothesised that profit maximization would not be the goal of the managers of a joint stock organisation. This theory, like other managerial theories of the firm, assumes that utility maximisation is a supervisor’s sole purpose. However it is only in a corporate kind of company organisation that a self attention trying supervisor can maximise his/her own utility, since there exists a separation of possession and manage.
The managers can use their ‘discretion’ to frame and execute policies which might maximise their own utilities rather than maximising the shareholders’ utilities. This is well-nigh the imperative–agent challenge. This could even though threaten their job security, if a minimal level of profit is not attained by the firm to distribute among the shareholders.