What Is the Purpose of Business

What is the purpose of business?

What is the purpose of business, if you ask the question to people, most of them will tell you their answer is to make money. From my point of view, the purpose of business is not as simple as making money, but to contribute to the society and help to build a good society by fulfilling the customer’s need and wants. Making money comes second to help the business constantly to fulfill the customer’s needs and wants and contribute to the well-being of society.

Why I am saying that, because the competition in business is fierce, only when you truly understand what is your customer’s needs and wants, then your customer would like to choose you over your competitors, they are even willing to pay much higher price. So it is extremely important for you to understand what is customer’s need and what is their wants, if you don’t understand their needs and wants, your business will not be recognized by the customer, your business will not make money. Furthermore, your business is an integral part of society, when you fulfill customer’s needs and wants, you can help to contribute to the society and help to build a better society.

We can see all the successful businesses in the entire world, no business set their business purpose as “making money”, because they know fulfilling customer’s needs and wants is the top priority for the business. Most of the successful businesses are inspired by the purpose- to fulfill customer’s needs and wants by which the business can help to build a good society. For example, P&G, the leading FMCG company, stated the purpose in their official website as “provide branded products and services of superior quality and value that improve the lives of the world’s consumers, now and for generations to come. As a result, consumers will reward us with leadership sales, profit and value creation, allowing our people, our shareholders and the communities in which we live and work to prosper.”

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