Business Purpose and Objectives: Strategic Analysis of Businesses

This report delves into the fundamental purpose of business, emphasizing the significance of strategic objectives and their role in achieving competitive advantage. It highlights the importance of profit maximization, market share, and sustainable business practices. The analysis underscores the need for effective strategies and plans to guide businesses towards success, including the evaluation of market sustainability and viability. The report also stresses the importance of attracting a substantial customer base to ensure profitability and competitive positioning. References to Allen (2017) and Basu (2017) provide context and support for the discussion, illustrating how these principles contribute to overall business success.

Purpose of business

What is the purpose of business?
All the business venture are launched with specific purposes that reflects their capability
to sustain in the market. If an organisation is not able achieve them then it is not possible for it to
achieve competitive advantage. When a new business venture is launched in the market it is
introduced for acquiring profits, capturing larger market share and achieving higher growth and
development. Apart from this the major objective of a new business is to sustain in the market
and become competitive to the existing companies. For all the stakeholders who invest money in
the organisation it is very important that they get good returns on their funds (Allen, 2017). It is
only possible in one situation which is that, if the business entity fulfils all its purposes. In order
to reach goals the companies should form effective strategies that can guide them through out the
way of success. If appropriate and impressive plan of actions are not formed then it is not
possible to achieve all the predetermined objectives.
To attain the purpose major requirement is, to analyse level of sustainability and viability
of the business. When it is possible for the organisation to sustain in the market then the
objectives cannot be attained (Basu, 2017). Profit maximisation goal can be reached if the
business entity is able to attract large number of customer because when the company is not
having appropriate number of patronages then it will become difficult to achieve competitive
advantage as well as sustain in the market.
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REFERENCES
Books and Journals:
Allen, W. T., 2017. Our schizophrenic conception of the business corporation. In Corporate
Governance (pp. 79-99). Gower.
Basu, S., 2017. Corporate purpose: Why it matters more than strategy. Routledge.
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