firm - Organisations, Music and popular culture

The unit in which non-government economic activity is organized. Firms range from one-man businesses and partnerships to large public companies. Firms own or hire factors of production, including employees, land, and buildings, buy inputs such as fuel and materials, and sell their output. To stay in business, firms need to cover their costs, and to expand they need either current profits to finance investment or a plausible prospect of future profits to enable them to borrow. Firms are sometimes assumed to maximize profits; they normally prefer more profitable to less profitable courses of action, other things being equal . Other things may not be equal if the risks involved are not the same, and firms have to trade off expected profits against safety. Also, there is in principle an unlimited amount of information which could be relevant in taking decisions. Collecting and processing information uses time and money, and decisions always have to be taken on incomplete information. Many economists argue that rather than maximizing anything, firms satisfice, ie seek for a viable rather than an optimum course of action.

A British English slang phrase for a criminal gang or a football hooligan firm

Organisations

The Firm (EastEnders), a fictional organization in the British TV series, EastEnders The Firm, a London criminal gang run by the Krays Allegedly, the British Royal Family refers to itself as "the Firm" The Firm, a management company, located in California that represents many musicians, artists, and actors McKinsey & Company, a management consultancy

Music and popular culture

The Firm (book), a 1991 novel by John Grisham The Firm (film), a 1993 movie based on the book The Firm (1988 film), a British TV movie starring Gary Oldman The Firm (rock band), a British rock group formed in 1984 by Jimmy Page and Paul Rodgers The Firm (group), a hip-hop music supergroup who released one album in 1997 The Firm, a music act who were responsible for the 1987 UK No.1 hit Star Trekkin'

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