MGMT 3020 Lecture Notes - Lecture 3: Profit Maximization, Colin Kaepernick, Sage Publications

• School: University of Guelph
• Department: Management
• Course: MGMT 3020
• Professor: Ruben Burga

Document Summary

The panarchy principle is a principle we were taught in class and read about in for. The text describes it as a natural law governing complex systems (houston, Pinches, 2016), we can interrupt this as one action having complex reactions that are not necessarily obvious and can be negative or positive without the one committing the action aware of this. Whereas telos is a way to satisfy the selfless gene (houston, pinches, 2016), in terms that is not always a great idea to follow through on an action unless it"s in everyone else"s best interests. Both the panarchy principle and telos are comparable because they both require a decision to be made about an action required. In both terms there is room for benefit and disadvantages that reflect others as well. The class understands value not in an economic way, but more in a sense of what a company can offer the consumer other than the product or service.