What are the three basic functions of a firm? Do all firms/organizations (Private, Government, Not-for-profit) perform these three functions?© BrainMass Inc. brainmass.com March 4, 2021, 8:17 pm ad1c9bdddf
Three basic functions of a company are to earn a profit, to be socially relevant, and to innovate. Each of these is vital to a company's success. All companies, large, small, non-profit, for profit, and governmental agency must do all three to remain solvent in today's marketplace.
To earn a profit is vital to continuing to do business. Without having the profits, resources cannot be purchased and used, time ...
Discussion of the three basic functions of a firm or organization and if all firms whether government, not for profit, or for profit participate in all functions.