Why Do Business Exist? Review

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“Why does business exist? “ is a question that people may easily miss, because business has been so engaged in social life. However, it is still an issue that needs everyone, especially business people to deeply explore. From my point of view, business organizations exist in order to meet the needs of our daily life. Business organizations have been everywhere in our lives. When people need food, they go to supermarkets to choose what they would like to eat. This is the business activity between people and business organizations for the fulfillment of physiological needs. When people have the need of employment, they may choose to get participated into the business organizations and be a participant of business activities. Thus they can even have the opportunity to make a business plan and carry out the business idea. This is the business activities held by people in order to meet their safety needs. People surrounded by business build social networks among others and gradually form deep friendship with someone that has similar interests or ideas. This is the business organizations’ generating the communication environment and it allows people to satisfy the third layer of human needs—love and belonging. As fulfilling the three lower layers of human needs, people can more easily meet the needs of esteem and self-actualization. When it comes to Maslow’s hierarchy of needs, business organizations form the environment where people can better satisfy their needs and expectations. When I mentioned this “Why do business exist” question to Tim Bushnell, my principal manager in the University of Minnesota-Duluth Dining Center, he answered, “A business gets started when somebody decides that they can earn a profit by making a good or providing a service, and then selling it to people who are willing to pay for it. A business objective is anything that a company wants to achieve. The most important objective to the business is to make a profit in order to survive. If a...
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