The Purpose of Business
People have different viewpoints about the purpose of business and the role profit, or net income, should play in the strategic intent of a business or organization. Some people believe that the purpose of business is to generate profit for stakeholders, and some feel that the purpose is to create economic growth and employment opportunities. Others believe that the purpose is to improve consumers’ well-being by providing useful products. Finally, there are those who think that the purpose is to create a respectable identity. Regardless of their viewpoint, most people can agree on at least one concept: Profits are a necessary part of fulfilling the purpose of a business, and net income above expenses is necessary for other organizations to continue to exist.
In this Application Assignment, you will examine four viewpoints about the purpose of a business and the role of profit, or net income. You will also formulate your own ideas on those topics and compare and contrast them to the four opinions you examined.
To prepare for this Assignment, carefully consider the following four quotations:
Now complete this Assignment, by responding to the following in a 3- to 4-page paper:
Be sure and back up your response with at least two additional scholarly resources. Refer to the Essential Guide to APA Style to ensure that your in-text citations and reference list are correct.
References
Asacker, T. (2008). A little less conversation: Connecting with customers in a noisy world. Ithaca, NY: Paramount Market Publishing, Inc.
Friedman, M. (1970, Sept. 13). The social responsibility of business is to increase its profits. New York Times Magazine.
Spinosa, C., Flores, F., & Dreyfus, H. L. (1997). Disclosing new worlds: Entrepreneurship, democratic action, and the cultivation of solidarity. Boston, MA: MIT Press.
Welch, J. (2005). Winning. New York City, NY: HarperCollins Publishers, In
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