Question

Please do not plagiarize or use a previous posted answer!! What is the purpose of the business? Does this answer depend upon whether or not you are the business owner, an employee of the business, or simply someone affected by the business in some manner? Why or why not? 250 words

Answer 1

The purpose of business is to identify opportunities and needs of society and provide ways and means to fulfill those needs by using various resources and leveraging the strengths and creating value for the end user in the process.

The above is a general statement regarding purpose of business from a societal point of view. However, as with all things, each person would associate the purpose of business with his own thoughts and his own needs. Hence, the purpose of business would be different for each person.

For a business owner, the primary purpose would be to generate profit. On the other hand, an employee may view business as solely existing in order to provide him livelihood. The consumers may think that the business is there to provide them goods and services and to make lives easy in exchange for taking a lot of money.

Whatever may be the point of view of a single person, everyone would agree that business is a delicate and deeply interwoven fabric of our society, without which modern civilization would collapse. Businesses stive to fulfill consumer demand and needs and even anticipate these needs for consumer when the consumer himself is unaware of his exact needs. Businesses innovate and provide value to consumers and customers by using human, monetary, ecological and other resources. They create jobs and pay taxes which fund the growth for our governments and our economy. They do all this in hope of some profit which may or may not be realized. But despite the risks, they do all this and make our lives easier.

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