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The Purpose of Business - Online Term Paper

The Purpose of Business

What is the Purpose of Business?

“There is only one valid definition of business purpose: to create a customer.” – Peter Ducker

There can only be a business if there is a demand for the goods or services of a business, which by extension, is created by the customer. Although the goal of every business is to earn a revenue, it is not its purpose, but instead an outcome of creating customers. Before you can create customers, you need to find out what needs your customer wants fulfilled today and determine how well your products are satisfying the needs of your customer. That’s where marketing comes into play. Keeping the customer is a cardinal mission, and the only way to do that is to ...

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think of the customer as a “real human.”

According to this perspective of business – creating customers – business does not need to be concerned with ethics, with growth and development of individuals and cultures, or with delivering value. All it needs is customers who are going to pay for it. If a business wants to sell lethal weapons by creating fear of others – like arms manufacturers do on national levels – there will be many customers for weapons. In my opinion, smart business does not exist for customers and profits alone, but for creating value-added sustainable products and services, which provide respectable livelihood, evolve individuals, develop civilizations, and help solve problems of ...

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The Purpose of Business. (2015, September 16). Retrieved January 22, 2025, from http://www.essayworld.com/essays/The-Purpose-of-Business/104984

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"The Purpose of Business." Essayworld.com. September 16, 2015. Accessed January 22, 2025. http://www.essayworld.com/essays/The-Purpose-of-Business/104984.

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PAPER DETAILS

Added: 9/16/2015 12:43:59 PM
Submitted By: drake098
Category: Economics
Type: Premium Paper
Words: 317
Pages: 2

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