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The Business of Economics$
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John Kay

Print publication date: 1996

Print ISBN-13: 9780198292227

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0198292228.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 01 December 2020

Relationships and Commitments

Relationships and Commitments

(p.83) 11 Relationships and Commitments
The Business of Economics

John Kay (Contributor Webpage)

Oxford University Press

This chapter was written around the theme of trust and commitment in business and personal relationships. The argument of the first part centres around the unsuccessful attempt to formalize trust relationships through a formal marriage contract. The latter discusses the idea that firms should not focus their efforts entirely on achieving return for their shareholders but rather try to achieve a multitude of objectives involving more than one group of stakeholders.

Keywords:   commitment, company objectives, marriage, profit maximization, relationships, shareholder return, stakeholders, trust

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