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What is the purpose of making a profit

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Consider the Case of the 70k Experiment. Whatever the reasons were, CEO Dan Price raised the minimum salary of every employee in his privately owned business to $70,000. This is an amount Price believed necessary for his employees to achieve a reasonable quality of life in the costly greater Seattle area. Had he chosen to continue paying market rates it would be hard to make the case he was doing harm to people, and some could argue he was even doing good by providing employment opportunities. Yet Price, and many other CEOs such as Jim Sinegal, chose to see employee wages not as a detractor from profits, but rather as a moral obligation to improve the quality of life of people working for the company. In both cases, comparable but distinct, benefits were seen by the companies. For this week's discussion you are to respond to the following prompts:

Question 1: What is the purpose of making a profit?

Question 2: At what point does profit lose its value?

Reference no: EM132975088

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