40) «The purpose of business»

by Javier Carro

Topics: Economy

What is the purpose of business?

Based on my own experiences, critical thinking and aspirations, the purpose of business is getting some outcomes, i.e., benefits or gains, that currently is mainly money, but it could be another such as gold or other valuable things.

Along the history of mankind there was different kind of jobs, occupancies, or professions, but after the Industrial Revolution there was a new kind of getting money that were the companies. I mean is different business than a company or a firm or enterprise. So, you can make business without a company, by the other hand, companies are founded to make business. In other word, people or companies make business to make money. As Nobel Prize Milton Friedman used to say, “Money is good money”.

Then we can conclude that in a capitalist system or capitalist society the only purpose of «the business of business is business» is to get and increase profits.

Anyway, nowadays I think there are another purposes for making business in a “fair play game”, currently the world and the society have got new needs and demands new kind of business. For new generations it is relevant to take into account new aspects for XXI century “fair trade”, eco-friendly products respecting the environment. There are also important concepts such as green materials, and contributing a healthy harmony with the community and the society.

In conclusion, I would say the businesses and the companies –besides to get profits–have got a social responsibility for philanthropy or for developing a sustainable world.

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