Question

What, in your view, is the purpose of business? Articulate the roles and responsibilities of all relevant stakeholders, paying particular attention to owners. What is your sense of the purpose of business based on what you have experienced with actual businesses (as a customer)?

Answer 1

The most important purpose of every business is profit. Shifting the focus of the organisation, create experience in customer perspective, help the individual to understand who is customer and their needs, developing empathy among customers, drive engagements to understand the consumer behaviour, maintenance of the corporate social responsibility among stake holders are the other major purpose of the business. Innovation is one of the most important goal of business. Creating expansion among the stakeholders will increase the confidence of the investors and also focus on the growing importance of innovation.
Stakeholders have their own proper responsibility regarding the business purpose. Most important responsibilities of stakeholders are educating developers, financing projects, creating scheduling parameters and setting milestone dates. They are responsible to make review about deliverable project teams. The deliverable project includes architectural diagram, blueprints and construction drawings. Stakeholders have the responsibility to approve these things.
As a customer, the experience is based on the perception about the business strategies. The better experience from the business increases the confidence and review of the customers. It increased the loyalty of customers, satisfaction of customers and make positive recommendation from customers itself. The subscription of business can reduce the fear of bankruptcy and churn and also increase the retention.