What is the purpose of a business?
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The purpose of a business is to fulfill a need or want in the market by providing products or services. Businesses aim to generate revenue and make a profit by delivering value to customers. They also contribute to the economy by creating job opportunities and driving innovation. Ultimately, the purpose of a business is to create sustainable growth and success while meeting the needs of customers and stakeholders.
The real purpose of a business is NOT to create profits. Because a business cannot exist outside of society and must satisfy a specific need in order to stay in business, it has to create or add additional value to the community or individuals. That’s why the real purpose of a business is to create customers.