The question itself answers all Is Profit as a direct goal overrated? Any kind of business organization whether it is small or big must have the concept of the profitability within the planning of its own business organization. There are several other concepts besides the concept of profitability that helps in providing the business with more fuel to earn its aims and objectives more quickly. It is naturally believed that the amount of profit is sufficient for the organization. This is a sort of belief that all the business organizations in the society are beguiled and greedy. Several studies, readings and analysis have been presented for the time where it has been revealed that the only the profit making concept is completely a disoriented one. And hoping there would be more study relating to the development of the other modes of the organisation apart from the profit making scope of the business.
Although profit-making is a good concern for every business, yet it is not only the profit-making perspective of the business that will instigate and regulated in the bloodline of the business organization. The sole concept of the profit making concerns about the business organisation won’t help the company to achieve the objectives and goals of the business organization. The traditional concept of the business is to operate the business in order to enhance and increase the profitability of the business organisation. In the other words, it can be said that the business can only survive if and only it can earn its profits through its whole life. But in the contemporary concept of planning and running the business organisation profit making concepts take place in the secondary planning part of the business (Acadpubl.eu 2019). If the customers are to be considered as the puppet of any organisation then it is very much demeaning because they are the only one for whom the ultimate products are to be produced. The needs, tastes, demand and preferences are to be taken into account so that the business organisation must think about the condition of the welfare of the business platform. Only the monetary factors or the financial factors are not to be considered as the profit making concern of the business.
It is also the customers those are to be considered one of the important aspects in motivating the profit making concerns of the business. The customers are to be considered as the king pin of the business. Apart from this, the after sales service is also very much important after the company has sold its products to those customers. The liability of the business must be triggered so as to achieve the loyalty and trust of customers towards the business in order to enhance the goodwill of the company. The gratification of the business organisation towards the customers will assists the customer in thinking about the vital and pivotal aspect of the organisation (Exploreamaze’s Blog 2019). The workplace of the business organization must be a peaceful aura for the employees and the staffs to work safely and peacefully in the business environments. The safety of the employees and staffs is a big concern that is to be heeded by the organization. Staffs and employees are the regulatory part of the business organization and it is very much important to ensure safety in their working environment. This can be achieved through effective method of communication whilst eradicating the rumors and misunderstanding that can take place in the working place within the organisation. This is because communication plays a special bonding between the employers and their subordinates and within the colleagues too. Harassment faced by the people of any gender must be reported. Any kind of discrimination based on race, sexual orientation, sexual identity, class must be dealt with the supervisor of the organization or of that particular department (Harvard Business Review 2019). The company must go through the process of educating and teaching customers to resist discrimination. Any sort of discrimination should not be entertained in the working place of the business organization.
The discrimination will demotivate the staffs and employees and thus will lead an effect to the working behaviour of the business. So for this, it is the duty of the supervisor to give a thorough check up on a regular basis so as to meet all those discrepancies all together. The environmental fact is one of the main turning points in today’s world to consider the profit making factor of the business. Due to the advent of the global warming it has highly raised an alarm to the people of the every organisation to think about and to take steps against the factors which could bring harm against the environment. The organisation must think about their follow ups of the production of the business that whether it is posing any threat to the society and to the environment (Acadpubl.eu 2019). The business must also take into account the issues of the stakeholders of the organisation. The stakeholders can be creditors, investors, shareholders, suppliers, groups, unions, community, governments, owners and other agencies those are related to the organisation. The body that is liable to take any benefits or advantages from the resources of the business must be concerned besides the aims and objective of earning the profits. Stakeholders are also considered as the interest of the company as they have invested in the company and it is liable to pay the profit amount to them before earning profits for themselves. The strategic objective of the organisation must be able to meet the demand as is provided by the customers. The developmental strategy is adopted by the company to render differentiation in the product so that the business could place different products to the different customers and this is by offering the customers unique and new style of the products having the quality which is ultimately superior. One of the other things is to provide the products those are effective that is to render the customers those products for which the costs are low and on the other hand the value or the quality of the product is higher. The corporate social responsibility of the customers must also be one of their responsibilities and it is from the expectation of the society from the business that the business is going to serve more valuable and highly qualified products. The good CSR will help in increasing the value of the business organisations as the business is expected to follow certain factors like providing value on the rights of the human, environmental rights, social rights, and animal rights.
The line of conclusion can be drawn by saying that definitely the profit is an overrated concept in the business because there are several other factors those the organisation needs to understand and considers to earn more positive feedbacks from the customers. The goodwill of the organisation will only increase if the company is looking forward for the benefit of customers, working staffs, and stakeholders of the organisation. The external factors like the environmental factors and the social factors must also needed to be taken under consideration so as to increase the goodwill of the customer. But yes keeping in mind the account of the profit earned by the company is necessary but it should not be considered as the prime factor in running the process of the business organisation. It is a new era, so all the business organisation must think in a more justified way and reject the conventional behaviour of earning profit for the company only.