Essay on jumper down

Making a Profit

Student’s Name

Department

Course Name

Professor’s Name

Due Date

Making a Profit

Globally, businesses have instrumental roles in contributing to economies in various ways. However, for a long time, many theorists have emphasized that the most important thing for businesses is to make profits. I do not entirely agree with this ideology. Firstly, businesses have a role in creating and enhancing the innovation of ideas. According to Gurbuz (2018), innovation helps a business attain a competitive advantage and a wider market share. Therefore, businesses should engage in innovation enhancement to provide modern-day solutions.

Additionally, businesses have a role in producing and distributing products and services that meet consumer needs and demands. Ray (2015) explains that meeting consumer needs is critical for businesses to retain and attract new customers, which ultimately leads to profit realization. Therefore, this calls for business entities to understand different consumer tastes and preferences. Businesses that prioritize customers' needs end up establishing long-term relationships and creating value for their goods and services (Ferrell et al., 2021).

Another important role of any business is to engage in corporate social responsibility (CSR)