Critically Assess the View That the Purpose of Business Is

question 20

Essay

Critically assess the view that the purpose of business is to make profit for the shareholders.

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Definitions:

Environmental Management Accounting

The process of recognizing, gathering, evaluating, analyzing, internally reporting, and employing information related to materials and energy flows, environmental expenses, and other cost details for making both traditional and eco-friendly decisions within a company.

Environmental Costs

Expenses associated with the damage done to the environment by pollution, resource depletion, and other environmental impacts, directly or indirectly.

Non-Financial Measures

Performance indicators not expressed in monetary terms, often related to customer satisfaction, employee engagement, or quality.

Hidden Costs

Expenses that are not directly accounted for in the budget of a project or a product pricing, often overlooked or unknowingly incurred.