Economist Milton Friedman said the main purpose of a business is to maximize profits for its owners (for a publicly-traded company, it’s for the stockholders).
Jim Cathcart says, the purpose of business is to “make life better for someone.” He means create a product that solves a need, and where profit is the result.
Peter Drucker is more widely quoted as saying “Because the purpose of business is to create a customer, the business enterprise has two—and only two—basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are costs. Marketing is the distinguishing, unique function of the business.”
Get a copy of Peter Drucker’s maxim on the Purpose of Business: go here.
With today’s wide choice of communications channels, it isn’t difficult to take someone’s definition, such as Drucker’s, and poop all over it with