According to economist Milton Friedman, the main purpose of a business is to maximize profits for its owners, and in the case of a publicly-traded company, the stockholders are its owners. Others contend that a business's principal purpose is to serve the interests of a larger group of stakeholders, including employees, customers, and even society as a whole. Philosophers often assert that businesses should abide by some legal and social regulations. Anu Aga, ex-chairperson of Thermax Limited, once said, "We survive by breathing but we can't say we live to breathe. Likewise, making money is very important for a business to survive, but money alone cannot be the reason for business to exist. " Show Some people believe that a business is essentially someone's property, and, as such, that its owners have the right to dispose of it as they see fit (within the confines of the law and morality). They do not believe that workers or consumers have special rights over the property, other than the right not to be harmed by its use without their consent. In this conception, workers voluntarily exchange their labor for wages from the business owner; they have no more right to tell the owner how he will dispose of his property than the owner has to tell them how to spend their wages. Similarly, assuming the business has purveyed itsgoods honestly and with full disclosure, consumers have no inherent rights to govern the business, which belongs to someone else. People who subscribe to this view generally point out that a property owner's rights are constrained by morality. Thus, a homeowner cannot burn down his home and thereby jeopardize the entire neighborhood. Similarly, a business does not have an unlimited right to pollute the air in the manufacturing process. Sets with similar termsWhat are the 4 main business objectives?Objectives of Business. 3.1 1] Profit Earning.. 3.2 2] Market Share / Creation of Customers.. 3.3 3] Innovation & Utilization of Resources.. 3.4 4] Increasing Productivity.. What is the main purpose of a business?The purpose of a business is to offer value (through products and/or services) to customers, who pay for the value with cash or equivalents. Minimally, the money received should fund the costs of operating the business as well as provide for the life needs of the proprietor.
What is the first and most important objective of a private business Organisation?Profit. The profit objective is easy to measure and is achieved when you have more income than costs . Most private sector businesses have this as their main objective. Profit maximisation is a variation of the profit objective.
What are business goals examples?Examples of long-term business goals. Increase the total income of your company by 10% over the next two years.. Reduce production expenses by 5% over the next three years.. Increase overall brand awareness.. Increase your company's share in its market.. Open three new office locations throughout the United States.. |
A person or organization with a legitimate interest in a given situation, action or enterprise.
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