What Is Business Primary Purpose?– Business has been defined as any activity that involves the production or delivery of goods or services within the confines of law and morality, and with a primary objective of generating a surplus, otherwise called profit.
However, to answer the question what is business primary purpose, many people would agree that the primary purpose of business is to generate profit. As such, when moral questions are raised about profit, these questions are really about the very essence of business itself. Indeed, a lot of debate revolve around the issue of profit, and some of the questions raised relates to the nature of profit and its justification.
A reason for the high level of interest in the nature and justification of profit is that many of the solutions to ethical problems in business affect profit.
Some of these problems include pollution, adequate workers wages, safe work environment, honest advertising and production of safe and durable products. Another consideration is that when profit is placed against other social considerations such as the wages of workers, profit is always at a disadvantage.
This is because for many people, the intangible elements that may justify profit do not have as much importance as other immediate, basic, tangible and seemingly pressing needs of other claimants in society. These would include benefits for workers, clean air for all, and workers and consumers safety.
Why Business Primary Purpose Shouldn’t Center On Profit:
It is easy to overlook the primary purpose of your company and forget that it can drastically impact your company’s future. In fact, your company can be dissolved because of your business primary purpose.
Your business purpose defines the reason for your company’s existence. Primary purpose of business should be center to:
- To provide good and services to the customers to meets their needs and wants at a competitive price,
- And at the same time to make reasonable profit for survival of the company so that the company can continue to provide more goods and services to the customers at affordable price.
