Memo Report Profit Only Motive for the Business

Question: Mr. Howe, a Junior Partner of the CPA firm Dewey, Cheatem Howe, has asserted that the business of business is business and that Corporations exist to maximize profits. Discuss whether this assertion is a reasonable way to manage corporations, discuss any viable alternatives, and come to a conclusion. Answer: To: Mr. Howe, a Junior Partner of the CPA firm Dewey, Cheatem Howe From: A Date: January 24, 2015 Re: is the profit only motive for the business today Context line: Profit motive Action: profit s only one motive There is no denying in the fact that the corporations work for profit, but there is denying in the fact that they do not solely work for the motive of profit. They are also entrusted with the responsibility of taking care of their responsibility towards the society, environment since they exist in that world. And it is due to this reason that there are compliances that the company has to meet and report the same as the part of their financial statements. Today, the businesses are dealing with the customer that are quite intelligent and know what is wrong and what is right. If the customer knows if the business is not being conducted in the most truthful manner. the concept of profit making entirely ignores the quality of the product and when the business s striving for the same, then it will end up in being loser since if it has to excel, then it must do the things in the most honest and truthful manner. Any government will never support the business if it is being conducted in the manner that is detrimental to the interest of the company and the stakeholders. And this seems quite right and fair. References: Indiabix.com, (2015). Is the Business of Business only Business? - Group Discussion. business-of-business-only-business/ [Accessed 24 Jan. 2015]. The Role of Business in the World of Today .publishing.com/content/pdfs/jcc17hend.pdf [Accessed 24 Jan. 2015].