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 Why Business Exists - [Article]

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Join date : 2011-12-09

PostSubject: Why Business Exists - [Article]   Sun Dec 11, 2011 5:29 am

Why business exists:
A brief review

Businesses exist to satisfy a need or want in the economy by consumers. Consumers are people who use these goods or services.
Businesses provide these goods and services as well as employment as they grow larger.
Therefore without businesses to provide goods and services, consumers would have no direct link to the resources of the country.
The most successful businesses are often very efficient at what they do.
Thus in a free market economy, those who are not as efficient will be not be able to survive against those who are.
It is almost like a natural selection of the business world. Only the strong survive over time.
As the business expands and gets larger, they start to increase the scale of their work and need to hire more employees. (Context: They are getting more important in the economy therefore, more labour is allocated towards them)
They also exist to allow trading around the world. (Imports and exports)
Businesses acts as the medium between consumers and resources.

If there is anything else someone would like to add please feel free.

If you would like to read more in-depth check out these two articles:

"Why businesses exists" - http://www.successinyourcareer.com/datafeed/why-business-exists - Written by Horace Tee
"Why do firms exist ?" - http://www.economist.com/node/17730360 - Written by Schumpeter
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