About Theodore Levitt

Theodore Levitt (b. March 1 1925, Vollmerz, Main-Kinzig-Kreis, Germany – d. June 28 2006, Belmont, Massachusetts) was an American economist and professor at Harvard Business School. He was also editor of the Harvard Business Review and an editor who was especially noted for increasing the Review's circulation and for coining the term globalization.In 1983 he proposed a definition for corporate purpose: The purpose he said is to create and keep a customer. His words are an authoritative and insightful statement about the purpose of an enterprise. They go far beyond the hackneyed belief that business exist only to make money.