Business Purpose: Analysis of Profitability and Stakeholders

This report analyzes the core purpose of businesses, focusing on profitability, customer satisfaction, and stakeholder management. It examines the role of businesses in providing goods and services, generating profits, and fulfilling corporate social responsibility. The report discusses the importance of customer satisfaction, the impact of various business types, and the significance of innovation and stakeholder involvement. It explores the strategies businesses use to meet customer needs, including the utilization of technology and the provision of high-quality products and services. The report also references key sources such as Daniels et al. (2015) and Freeman & Ginena (2015), highlighting the importance of business goals and its impact on stakeholders.

What is the purpose of
business

Table of Contents
MAIN BODY ..................................................................................................................................2
Purpose of business ....................................................................................................................2
REFERENCES ...............................................................................................................................3
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MAIN BODY
Purpose of business
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,
organization make sure that implement appropriate strategies of identifying customers needs and
wants then serving 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 organization. With the social benefits, innovation, business organization achieve
purpose. Therefore, business meet customer requirement, utilize better quality product and
services for satisfaction of consumers. By using technology and invention in products, so that
customers more satisfy with business organization. There are many types of business such as
solo proprietors. These businesses are serving the best services and making more profits as well
as increase image in front of customers(Daniels and et.al., 2015). In case of public companies,
the purpose of increase 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
Books and Journals
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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