--%>

Main purpose of the business

Briefly describe the main purpose of the business?

E

Expert

Verified

The major purpose of business is to make and keep a customer. The customer has always given the main source of revenue for a business; this has frequently been taken for granted. In the past, too many businesses have supposed that the customer would eagerly accept whatever services or products were on offer. When competition was weak and customers were passive, businesses could operate beneath this supposition and still make gain. Though, the era of weak competition has passed. Nowadays, customers have much greater choice and are much more assertive concerning their requirements. They demand higher quality goods and services at lower prices. They as well need that services and goods be delivered quicker with rising accent on the product being adapted to their individual requirements. If a business can’t meet such needs, a competitor business often can.

   Related Questions in Managerial Accounting

  • Q : Break even analysis based homework I

    I need homework help in accounting, 10 questions there about break even analysis. let us know if you can so it

  • Q : What is Outcome Outcome : The outcomes

    Outcome: The outcomes of a program activity as compared to its intended aims. Program outcomes might be computed in terms of service or product quality and quantity, customer satisfaction, and usefulness.

  • Q : Capital account An account used in a

    An account used in a partnership to record an individual partner's investment in the partnership plus the indi- vidual's share of any undistributed partnership income. In a corpo- ration, the equity sections have two parts: the contributed capital and retained earning

  • Q : Acquisition entry on Balance Sheet 1.

    Q : Define Partnership Accounting

    Partnership Accounting: A business can be a firm, a partnership, or a solitary proprietorship. The corporation is incorporated at state level. The sole proprietorship is one person in business. A partnership is two or more than two persons with an agr

  • Q : Main working areas of the coach

    Write a short note on the main working areas of the coach maintenance department?

  • Q : Comparative-Advantage Approach to

    We study optimal government debt maturity in a model where investors derive monetary servicesfrom holding riskless short-term securities. In a simple setting where the government is the onlyissuer of such riskless paper, it trades off the monetary premium associated w

  • Q : Things which Strengths comprises Write

    Write a brief note on the things which Strengths comprises?

  • Q : Reasons for favoring partnership deed

    Give reasons in favor of having a partnership deed. Answer: A) In situation of any dispute or doubt, Partnership deed is the gui

  • Q : Define Actual Cost Actual Cost : It is

    Actual Cost: It is the amount (sum) determined on the basis of cost acquired involving standard cost appropriately adjusted for the applicable variance.