objectives of a firm, theory of profit, and the responsibility of management through defining managerial economics and fundamental economic concepts

300 words
After watching the required video “Profit’s not always the point” by Harish Manwani and reading the article “Samsung delays launch of Galaxy Fold After Screen Failures” by Sam Kim and Mark Gurman, discuss the 4G Model and the purpose firms must have beyond the products they sale or the service they provide. Pretend you are the executive officer at Samsung responsible for not releasing the Galaxy Fold, what would be your response to shareholders and customers regarding the failed product. Use the economic theory and concepts in chapter one to support your response. Remember the idea is to maximize the wealth of shareholders but also be socially responsible to the community that must sustain your product.
 

video : http://www.youtube.com/watch?v=ihoR9B7p-1Q

article: https://www.bloomberg.com/news/articles/2019-04-22/samsung-delays-launch-of-galaxy-fold-phone-after-screen-failures