An Analysis of the Primary Purpose and Objectives of a Business

This assignment addresses the fundamental purpose of a business, emphasizing the core objective of generating revenue by providing quality products and services to customers. It highlights the importance of customer satisfaction and loyalty in achieving profitability and growth. The assignment discusses the role of money in meeting operational requirements, investments, and the inherent risks and returns associated with business operations. It also underscores the necessity of implementing well-defined strategies to mitigate risks and achieve organizational objectives, such as mergers, expansions, and acquisitions. The paper references key academic sources to support the arguments and provides a comprehensive overview of the multifaceted purpose of a business, including enhancing revenue and sales growth.

WHAT IS THE PURPOSE OF
BUSINESS?

Table of Contents
MAIN BODY...................................................................................................................................1
What is the purpose of business?................................................................................................1
REFERENCES................................................................................................................................2

MAIN BODY
What is the purpose of business?
Business starts its operations for achieving one or the main purpose to attain good money
by supplying quality products and services to customers. In simple words, business has main aim
to offer commodities to consumers by exchanging with cash and cash equivalents (Muñoz,
Cacciotti and Cohen, 2018). The money so attained is used for meeting operational requirement
with ease. It means that firm is able to make use of money by meeting expenses (Beach, 2018).
On the other hand, business runs for few years and in the view of up scaling present level,
mergers, expansions and acquisitions are taken place leading to achievement of firm's objectives
in effectual manner.
Business invests money with aim of maximising returns but it involves risk as well. In
other words, risk and return are usual behaviour of the market in which firm operates. Higher the
risk taken, higher will be the return in form of excess money on investment made. It is
essentially needed to implement well-defined strategies to prevent firm from excess risks which
may be harmful for organization (Lee and et.al., 2018). It can be said that main purpose of
business is to offer superior quality of items or services to customers and provide them higher
level of satisfaction for making them loyal towards it. Thus, business earns profits in effectual
manner and customers are provided goods at competitive prices. Hence, business is able to
enhance its revenue and sales growth and accomplish its set objectives.
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REFERENCES
Books and Journals
Beach, J., 2018. The People and Purpose of Business: The Philosophical View of the Workings
of a Corporation from a First-Year Business Student.
Muñoz, P., Cacciotti, G. and Cohen, B., 2018. The double-edged sword of purpose-driven
behavior in sustainable venturing. Journal of Business Venturing. 33(2). pp.149-178.
Lee, J. and et.al., 2018. The effect of travel purpose and self-image congruency on preference
toward airline livery design and perceived service quality. Asia Pacific Journal of Tourism
Research. pp.1-17.
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