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To what extent does profit motivate the owners of small shops?

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Introduction

To what extent does profit motivate the owners of small shops? Why people set up their own business? The answer to this question will have a priority word, which is profit. A person who carries out a business, wants the highest profit possible as their main objective, in addition to having freedom to make decisions. Having profits, makes them survive and feel secure, as well as completing other objectives such as personal satisfaction, income, funds for retirement, personal wealth or children's inheritance. However, there is another factor which makes owners feel even more motivated, which is the shop having a good reputation. All these factors are linked, as if there is a good reputation, then is likely to be higher sales, and as a result big profits, which will help the owner complete their objectives. These risk takers, will feel well motivated if there are high profits and a good reputation, always depending in the type of business and its situation. ...read more.

Middle

This makes Mr. Hidalgo feel more motivated, he feels that his carry out his job very well, and giving people very well their demands. His next objective is growth as a way to feel more motivated, and this can be done thanks to its high profits and good reputation. Base was opened 4 years ago, and I usually buy my sport clothes from here. It can be said that the reason for having profits and being able to survive is because they meet very well customer's demands, they are always updated to the latest sport things. Profit figures satisfy Mr. Martin, but what makes him feel fully motivated is knowing that the shop's reputation is good. He likes to see that customers are happy with what they have purchased, and they will come back again. This means that Mr. Martin cares a lot about profit, but what makes him fully motivated is to see a smile in the customers face, which increases the shop's prestige. ...read more.

Conclusion

If this task is well carried out, then prestige will increase alone, although isn't a big motivation factor for him because what he really wants is the highest profit possible. After doing my primary research on the 4 small shops, and doing secondary researches on book, I come to the conclusion of that profit is the key motivation for owners of small shops. The rest of the factor, are a subsidiary, without profit the rest of the factors cannot be achieved, such as reputation, growth., personal satisfaction... However, once a shop is well stabled, reputation becomes a major factor for motivation, as important as profit. High profits and prestige, motivates the owner of small shops, because they feel they are carrying out well their job. In conclusion, Profit and reputation are the major motivation factors for small shop owners, without them, they cannot achieve other objectives such as growth, survival, personal satisfaction, income, personal wealth... 1 See Appendix 1 ...read more.

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