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The Purpose Of Business

University: Imperial College Business School

  • Unit No: 8
  • Level: Undergraduate/College
  • Pages: 2 / Words 388
  • Paper Type: Essay
  • Course Code: BUS115
  • Downloads: 11
Organization Selected : Tesco

INTRODUCTION

The main purpose of business is to provide good and services to customers and earning profits.  The primary focus of business on achieving goals and driving success. It is contributed to customer satisfy and rewarding capital supplier. Business purpose is utilize revenues and capital to produce consumer satisfactions. With the help of making appropriate decisions, achieving purpose of business. The main object of business is to increase profits for its owners and stakeholder while keeping corporate social responsibility(Freeman and Ginena, 2015). Through serving and satisfying customers, accomplish purpose of business. Therefore, organizations makes sure that implement appropriate strategies of identifying customers' needs and wants then serve the best goods and services to them. The principle aim of business is to increase value and overcome distortions profitability alone experiences. Customers are important for business organizations. With the social benefits, innovation, business organization achieve their purpose. Therefore, businesses meet customer requirements, utilize better quality products and services for the satisfaction of consumers.  By using technology and invention in products, customers are more satisfied with business organizations. There are many types of business such as sole proprietors. These businesses are serving the best services and making more profits as well as increasing image in front of customers(Daniels et.al., 2015). In the case of public companies, the purpose of increasing profits. Other content, the main aim of business is to provide interests larger group of stakeholder involving workers, customers as well as society.

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REFERENCES 

  • Daniels, D. and et.al., 2015. Dean Panel Response: “What is the Purpose of Business?”. In The Purpose of Business (pp. 33-51). Palgrave Macmillan, New York.
  • Freeman, R. E. and Ginena, K., 2015. Rethinking the purpose of the corporation: Challenges from stakeholder theory. Notizie di Politeia. 31(117). pp.9-18.

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