RSSProfit and Other Motives of Business
Dennis AuBuchon | July 30, 2010
Profit is something we all strive for when we are running a business. The question is whether profit should be the only motive. The answer to that is a resounding no. Profit for business is a byproduct of satisfying the needs of their customers. We as individuals establish goals for ourselves and businesses are no different. Goals are targets which companies want to achieve and in this respect they are the motives.
In this current environment it is difficult if not impossible to make a profit and stay in business for some companies or organizations. While profit is needed to stay in business, businesses today must make every effort to satisfy the needs of their customers. This involves doing what it takes to keep customers happy and exhibiting that they care about their customers’ needs and wants. When this occurs the profits will come. Satisfying customer needs and/or wants is something that businesses must realize. Part of this involves treating customers with respect and not trying to sell them something they do not want. This sometimes involves trying to sell another product or a higher priced product if you do not have the one in stock that they came to buy.
There comes a time when businesses must think of the needs of others and wanting to fulfill those needs. As mentioned before companies must work to keep customers happy. This involves many things which should not only be a motive of staying in business but taken as the right thing to do. Customers want to know that companies care about them and are not looking at dollar signs when they enter the door.
Profit is not always a motive of business as some businesses or organizations exist to serve the community (e.g. non-profit companies and organizations). These examples are ones that serve the needs of their customers or their communities. Profit for these companies many times is reinvested in the community to be a steward of community needs. Companies and organizations exist for various reasons some of which have a goal of helping others and making a profit. Others have a goal of helping others and profit is an extra benefit if it is achieved.
There are also businesses or organizations that exist to make a difference. As previously mentioned goals established by companies or organizations are in effect motives and these do not necessarily involve profit objectives. Profit is only one example of a goal established by business. Other examples may involve such things as market share, sale targets, efficiency, becoming an industry leader and timelines for a new product. All of the examples in this paragraph and article are meant to point out that many businesses and organizations have other motives than profit.
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