Purpose of Business

Running head: THE PURPOSE OF BUSINESS

The Purpose of Business

University of Phoenix

Purpose of Business

Businesses have many purposes in today’s society. Business is responsible for the state of economy in the nation. Business is also responsible for the invention of new technology and advancements of the human race by providing a means of competition. Without business there wouldn’t be a drive to improve the way of life. Business is capable of accruing profit in order to keep providing services and to increase the influence of that business on society.

Impact of Business

Business has a profound impact on the world over the past three thousand years. It has allowed the world to modernize and transform the way of life. Businesses over the past century have taken the world from horses and wagons to automobiles and up to the stars with space exploration. The existence of business allows for competition to provide services for an affordable price. Business exists to provide services to the public; however the motive of each business is unique. Profit is the primary motivation of most businesses, and there are many businesses that believe their purpose is to provide a service regardless of making profit “The first responsibility to society is to operate at a profit and only slightly less important is the necessity for growth” (Para 2). Each business that exists helps to change the world either financially or socially.

Serving

Business has allowed the world to progress and with that progression, comes responsibility. Businesses have the responsibility to provide a service to consumers at a fair price; however they have a larger responsibility to ensure the satisfaction of those consumers. In the current economy the influence of business is seen in the advancements of tasks in everyday life. Another major purpose of business is to provide opportunity for people to improve their personal living standards. Someone who is capable of performing...