Role Of Business In Society

At stake is corporate reputation innovation competitiveness and growth.

Role of business in society. Terziev 2012 depicts in his study that the business is responsible towards the society as long as it is responsible to increase the wealth of the shareholders who all are the part of the society. The second is framing the role of business in society by look - ing to the values realized by the basic building blocks of contemporary economic activity ie markets and firms. The second is framing the role of business in society by looking to the values realized by the basic building blocks of contemporary economic activity ie markets and firms.

The role of a business is to produce and distribute goods and services to satisfy a public need or demand. They not only take up the most amount of time in most peoples lives but they also help create innovations and make important technological advancements. The third is making explicit the basic institutions that structure the background against which business operates.

Role of business in society A business is an organisation that makes buys or sells goods or provides a service. Either the CEO and the Board manage the role their business plays or others will manage it for them. Business is the backbone of development in the society.

International context In the developed world business plays a much more important role in society than it does in the less developed parts of the world. Businesses play a huge role in culture and society in general. The concept of the social role of business was placed in focus in the 50s of the twentieth century.

Employ People Provide people with. Business has always played a vital role in our society. That operating system functions too often at the expense of the interests of society and even the long-term interests of stockholders.

The welfare and societys social development have been enhanced by creation of resources by companies that have resulted in advanced improvement in the society. Income for living expenses source of satisfaction and achievement sense of identity and pride. Our second corporate citizenship priority is to earn.