Final answer:
The correct statements about a business organization are that its ultimate goal is to make profits, employee satisfaction leads to high productivity, and customer service adds to long-term profitability. Customer loyalty has a significant impact on revenue, and profitability requires revenues to exceed costs.
Step-by-step explanation:
When considering the correctness of statements about any business organization, we have to understand the core objectives and impacts on profitability. One true statement is that the ultimate goal of a business is to make profits, which are calculated as Profit = Total Revenue - Total Costs. Customer loyalty greatly affects a business's revenue, contrary to the statement that it has little impact. In fact, higher customer loyalty can lead to consistent and increased sales over time. Another correct statement is that employee satisfaction can lead to high business productivity. Satisfied employees are typically more productive, which can improve the quality of products or services and the efficiency of business operations. Finally, customer service adds to a business's profitability in the long run. This is because good customer service can enhance customer loyalty and brand reputation, leading to repeat business and referrals which are crucial for long-term profitability.
The statement that revenue from sales is enough for a business to make money is not always true, as profitability depends on the relationship between revenue and costs. Additionally, the competition for consumers can both reduce or increase profits, depending on the ability of a business to offer better or less expensive products. When looking at the broader economic picture, businesses that provide superior or more affordable products help to increase their profits and pay their workers more, which is beneficial for the nation's economy.