Class Assignment

DEVANSHU KEWLANI MOHAMMED THANVEER ABHISHEK WADURKAR LEENA HANDIQUE LTLFELA KHIANGTE YASHWANT SINHA

Purpose of Business
A business is an organization engaged in the trade of goods, services, or both to consumers. The purpose of business ,to put it in a crude way is to create value and whether that value is purely materialistic is subjected to debate and is a matter of perception. In todays world it is generally perceived as profit making but the purpose of business has changed over time in accordance with the nature of man. In early human existence, man was focussed on having the bare essentials for living.The idea of business started due to man need for exchanging goods. He cannot produce all the goods that he needs, by himself . The birth of business comes from the barter system where the goods between two parties were exchanged .And in that process an asymmetric evolution of knowledge about opportunity, powered by the competitive as well as greedy ( for the lack of a better word) nature of man, the idea of profit which powered the notion of business was born. Thus the main purpose of business became profit. As human needs grew, man felt the need to create a common denomination through which all other agricultural produce and other goods could be measured and hence was invented money which could value each commodity in monetary terms. With the advent of large business houses, the purpose of business, eventually over the years, became profit making at the expense of exploitation of the less powerful. The companies only focussed on concentrating the profits in the hands of a few and in the process exploiting many resourced both environmental and human. Today man has reached a stage where just money does not provide satisfaction. So the purpose of business, along with profit making, is to give back to the community to be recognised. He needs to leave a legacy behind and wants to be remembered. Hence the business owners feel the need to share a part of their profits with the others and fulfil their corporate social responsibility in bringing value to less fortunate and protect the environment which they have mercilessly misused over millenniums.

But we believe that the primary reason or the holy grail that runs business is profit. The purpose of business has never stayed constant and will keep changing overtime as the humans evolve and their basic necessities change.