Several of you replied to my first post after counting how many businesses you interact with in a given day. I’m going to assume that this small sample size is representative: clearly, everyone interacts with dozens of business products or services every day.
Businesses have a profound impact on our lives. If you agree, I’d like to pose a question. My next story will include your answers.
What are businesses for? What purpose do they serve in the world?
Brevity is best - what’s the first thing that comes to mind?
It seems to me that every thing that exists in the world draws something from it and contributes back - perhaps a basic principle. Providing a service through a business is one way we humans have organized ourselves to fulfill this principle. At a very basic level, the physical business is a place we congregate and interact with each other and in a self-actualized business, we contribute to something bigger than ourselves but in most, we just contribute and get something (usually money) in exchange. So the purpose of business is to create something bigger than ourselves by banding together - or to get something from the world and give something back. Businesses that don't follow this rule ultimately don't survive.
"In any free society, companies exist to fulfill a concrete need. They make a profit and remunerate the capital of their investors. They require sound financial health in order to grow and continue to invest in innovation. And companies must ultimately be profitable to be part of the solution to the challenges. But make no mistake: the purpose of business is to serve society."
I agree with Debbie and Jeff
My thoughts exactly
I would like to think business exist to serve the needs of customers. But in reality, most are there to serve shareholders (investors).
It seems to me that every thing that exists in the world draws something from it and contributes back - perhaps a basic principle. Providing a service through a business is one way we humans have organized ourselves to fulfill this principle. At a very basic level, the physical business is a place we congregate and interact with each other and in a self-actualized business, we contribute to something bigger than ourselves but in most, we just contribute and get something (usually money) in exchange. So the purpose of business is to create something bigger than ourselves by banding together - or to get something from the world and give something back. Businesses that don't follow this rule ultimately don't survive.
Love this perspective!
"In any free society, companies exist to fulfill a concrete need. They make a profit and remunerate the capital of their investors. They require sound financial health in order to grow and continue to invest in innovation. And companies must ultimately be profitable to be part of the solution to the challenges. But make no mistake: the purpose of business is to serve society."
https://www.weforum.org/agenda/2019/11/brazil-business-sustainability-environment-climate-society/
This was a big deal when it came out in 2019.