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Unformatted text preview: The role of profit in business: if the purpose of a business is to create a customer, then what is the role of profit? Drucker considered profit maximization irrelevant to the function and purpose of a business. He went so far as to label profit maximization a meaningless, harmful, and misunderstood concept because of the perceived contradiction between the role of profit and the ability of a business to make a social contribution (Drucker, 2001). Marketing and the knowledge economy: Drucker (1995) was among the first to recognize the profound impact of advances in communication and information technology on management practice; in fact, he first talked of the emergence of knowledge work and knowledge workers following the passage of the GI Bill just after World War II....
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This note was uploaded on 03/12/2011 for the course MKTG 3650 taught by Professor Thompson during the Spring '08 term at North Texas.
- Spring '08