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Unformatted text preview: The purpose of a hobby business such as the comic book store down the street from my home is to have fun. Sure they need to make the necessary profit to cover their expenses, but the sole purpose of the company is not to just make money. The one time I went there with my dad, the owner actually told him that. He gave my dad a discount for being a loyal customer. The owner indicated that he knows it may not always be the best way to make money, but if the customers keep coming back, he gets to keep his shop open and he loves his job. Other types of businesses such as schools or museums provide a necessary service. There are some for-profit schools and museums but the primary goal of the not-for-profit locations is to educate youth and provide care for those that are ill. Sources: http://www.business.ualberta.ca/rfield/PurposeofBusiness.htm http://www.businesspundit.com/philosophy-of-business-what-is-the-purpose-of-business/#net...
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This note was uploaded on 03/26/2012 for the course ECON GM545 taught by Professor Gotches during the Summer '11 term at Keller Graduate School of Management.
- Summer '11