Question

What is the purpose or the mission of the business enterprise. Is the business product or market-based and what role does technology or innovation play in adding value?

Answer 1

The purpose or the mission of business enterprise:

Customer Value: The sole purpose of any company is to satisfy the need of customer , Now the comapanies are customer oriented they work according to the need and wants of the customer.

Profit and employees: A company cannot survive without profit , because profit earned now added in the future and this added value for the customers. A company can therefore onlyt be of benefit to its customers over the long term it is profitable. This is similarly true for employees and their job . To serve value to the customer it is necessary for the organization to have employees.

Purpose and focus of your company: If your company is in critical situation then it is necessary for the company to focus on its profit and its results. But this type pf objective for long term can be harmful for the organization.

The purpose of the company is to provide value to its profits and therefore it is must to focus on your company .

Business vision statement as part of business strategy should reflect the purpose of your company.

Market based product should be produce which means customer oriented products must be produce by company.

Technology or innovation plays role in adding value

with technology many businesses could not survive. Technology in business allows organization to improve both the performances and overall effectiveness of product. It have wide range of potential effects on management and various impacts the operations , productivity, profitablity, sustainability of an organization. Modern technology offers numerous tools and applications like emails, video conferencing , live chat which helps manager to communicate with the clients and manager. Company use technology not only for companies purpose it is also used for to build customer relationship. It saves time and lot of paper work cut off excess cost.