'businesses only aim at maximizing profit '.Discuss this assertion

/'businesses only aim at maximizing profit '.Discuss this assertion
'businesses only aim at maximizing profit '.Discuss this assertion 2016-07-17T10:27:30+00:00
QuestionsCategory: Business Studies'businesses only aim at maximizing profit '.Discuss this assertion
1 Answers
Wiseone Staff answered 2 years ago

The word Discuss in the question means¬†write about (a topic) in detail, taking into account different issues or ideas. Following that train of thought you have to write an essay acknowledging that although profit is critical to a business’s survival there are other objectives as well viz: Survival- it would make little sense to put profit so ahead of survival that the business would say alienate its customers to the extent that they abandon it. Growth-some businesses e.g. Amazon don’t care about profit in the first years. They might charge lower prices to increase their market share for example which would essentially sacrifice profit maximisation in pursuit of growth Provision of a service-for example businesses in the public sector might care more about providing essential services rather than maximising their profits etc. Just expand on these thoughts.