Pandy 1979 quoted by CITATION Nim13 l 1033 stated that recent experience in

Pandy 1979 quoted by citation nim13 l 1033 stated

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Pandy 1979 quoted by [ CITATION Nim13 \l 1033 ] stated that recent experience in some countries with planned economies indicated that economists are perhaps right in emphasizing the
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importance of the overall profitability as a criterion for the efficient management of an enterprise. Profitability according to [ CITATION Sam15 \l 1033 ]may be referred to earnings of companies that are generated from revenues prior the deduction of all expenses incurred within a defined period of time. The term profitability according to [ CITATION Tul14 \l 1033 ]is relative concept whereas profit is an absolute connotation. The two concepts are closely related but mutually independent. As an absolute term, profit is the earnings or income generated from the operation of a business and as a relative concept, profitability is therefore the ability of a given investment to earn a return from its use. Conclusively, infer from the above stated, we can relate that profitability is the ability of an organization to generate profits as a determiner for the success of the organization and a measure of efficiency.
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