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What is considered as the starting point of every business endeavor?
  • a)
    Social responsibility
  • b)
    Profit
  • c)
    Innovation
  • d)
    Customer satisfaction
Correct answer is option 'B'. Can you explain this answer?
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Most Upvoted Answer
What is considered as the starting point of every business endeavor?a)...
Profit is considered the starting point of every business as it is the excess of revenue over cost. While not the sole objective of a business, profit plays a crucial role in sustaining and expanding a business. It serves as a source of income, a means of finance for growth, an indicator of efficiency, a reflection of societal utility, and a builder of reputation.
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Direction: Read the following text and answer the questions that follow:Shuddh Masala Udyog is a Partnership firm, which deals in trading of all varieties of spices. The partners focus on maximising the profits on the basis of customer satisfaction. Due to increasing competition in the market, the level of profits is falling. One of the partners advised to use substandard raw-material, to do little adulteration in products, and to maintain their profit margin. But the other partners opposed it by saying that the consumers can take legal action against the firm. Suggestion came from other partners to cut down the wages of workers and to withdraw the brunch facility given to them, but it was discarded on the ground that it will create discord and unsatisfactory environment. Finally it was decided that to maintain their profits the firm has to boost its sale and public image by fulfilling the social responsibility.“...public image by fulfilling the social responsibility...”Q. Social responsibility improves public image because of the following reasons?

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What is considered as the starting point of every business endeavor?a) Social responsibilityb) Profitc) Innovationd) Customer satisfactionCorrect answer is option 'B'. Can you explain this answer?
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