There is only one valid definition of a business purpose: to create a customer. -- The Practice of Management (1954)
About this quote
- What does it mean?
- The sole valid purpose of a business is to create a customer, implying that value creation defines the organization.
- In plain terms
- A business exists only to create customers by providing value to them.
- What can you take from it?
- Focus on creating customers as the primary goal of any business.
Where it applies
Putting it to work
Questions to consider
- What is the true purpose of business?
- Can a business exist without customers?
Another view
Defining business solely by customer creation may overlook profit or sustainability needs.
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