Beyond Profit: Examining the Evolving Purpose of Modern Businesses

This essay examines the evolving purpose of businesses, moving beyond the traditional focus on profit maximization. It explores the arguments for and against the idea that profit should be the sole objective, considering the importance of customer satisfaction and social impact. The essay presents arguments from various sources, including academic journals and online articles, to support the idea that businesses are increasingly focused on providing customer satisfaction. It also addresses counterarguments, highlighting the significance of profit for businesses, particularly start-ups. The essay includes a thesis statement, a writing plan, and a discussion of potential challenges and solutions encountered during the research and writing process. The author uses the CRAAP test to evaluate the credibility of the sources used. The essay concludes by emphasizing the changing nature of business and its services which leads to the satisfaction of the customer.

Topic: Should only
purpose of a business?

Why this topic
In recent time business are basically for the purpose of making
profit, the business person enter into the businesses with the
greed to earn huge profit. In economic it is defined as the main
purpose of any business is maximising the profit for the
shareholders. But in recent time the nature and purpose of
business have evolved. Now a days most of the business are
focused to provide various other satisfaction services to its
customer. They develop different approaches to make better the
customer services, as customer are the main foundation for any
business.

Three key sources
While searching for the topic, the following are the important
souses that help to ascertain the important information
about the topic. “Should profit be the only purpose of a
business? ”. These relevant sources are helpful in gathering
useful information about the topic.
• https://www.news24.com/MyNews24/4-reasons-why-
business-is-not-just-about-profit-20161128.

Continue..
 https://www.inc.com/andrew-thomas/3-big-reasons-why-
purpose-leads-to-profits.html.
 Dees, J. G., 2017. 1 The Meaning of Social
Entrepreneurship. InCase Studies in Social
Entrepreneurship and Sustainability(pp. 34-42). Routledge.

Source Evaluation
With the help of CRAAP test proper evaluation of sources
can be done. As this test in supportable to evaluate the
information an individual have ascertained for the relevant
topic.
Topic of evaluation: “https://www.inc.com/andrew-
thomas/3-big-reasons-why-purpose-leads-to-profits.html. ”
Evaluation Criteria: The CRAAP test stand for currency,
relevance, Authority, Accuracy and Purpose.

Thesis statements
The thesis statement is the main central speech or written
document that an author defend in their writing. The statement
related to the topic is “ The increasing speed of business and their
services benefits the customer to become more satisfied.” By
(Chow Li Ying, 2016).

First argument for
According to Sean Murphy, 2009 the main focus of every
business is to develop different satisfaction services for
their customer. This help in increasing the customer base
and companies would earn profit also.

Second argument for
According to Maite Baron, 2015, business either large or
small can survive without profit for some time. But if they
do not have a satisfied customer they would not be able to
sustain for long run.

First argument against
According to Anshuman Biswal, 2016 the main objective
of every business organisation is to earn huge profit so
they do not more focus to satisfy customer needs.

Second argument against
According to Andrew Thomas, the profit are important to
any start-up or business. He says the out of ten
entrepreneur are focused to earn huge profit from its
operation.

Writing plan
The proper writing plan help in completing a project in
proper time and effectively. Such as:
Week 1: The purpose of topic is identified.
Week 2: The relevant information is being gather and
analysed that help in writing information.

Challenges and Solution
Q1 What challenges related to completion of your essay do
anticipate?
Answer. While collecting information for the selected topic,
there are number of problem occurs such as, irrelevant of
content, formatting error, language problem etc. Sometime
there may be lack of focus, so the topic is different and the
collected information is totally different.