The role of business in society

The meaning of the business

Basically, the main role of business is to create wealth. It exists to build and maintain the conditions
of well-being. However, over time, it has gotten a slightly different meaning that relates to the
success. Today it determines the level of success and it runs the competition. Usually, people say
that business has two meanings. From one side, it means the activity when someone is making his
or her living by engaging in commerce. From the other perspective, it means a regular profession,
occupation or trade. But, in practice, business is something more important. Business ensures us
with the services and goods that we need in order to live, to develop, and to grow. It is difficult to
imagine nowadays life without catering, custom descriptive essays, production, and other
businesses that help us survive. Business creates competitions what in turn influence the quality and
variety of the products and services provided.

The main principles of business

Innovations, identity, and income revolve around business. It helps people to turn their ideas, their
creativeness, and their features into something innovative, requested, and useful. From the social
side, business helps people to interact; it gives the feeling of identity because they are involved in
something common, something that helps them to understand each other. Finally, every business
exists to make the profit because people need sources of living and enjoying life.

Business’ role in society is global. It influences the entire world because of the many variables
involved in business and the target market. For example, a huge part of different goods all over the U.S. is manufactured in China. The reason is that every member of the society is looking for the
better conditions when buying or ordering something. Three factors influence the final decision:

  • The time, the period that passes from the moment you order something to the moment, you get it.
  • The quality of the product you are going to get.
  • The price, the amount of money, efforts, barter services or goods you have to give for the product.

As a rule, all customers are looking for the balance between these three factors, depending on their
needs, opportunities, and alternatives. That is why sometimes it is expedient to order some items
from the opposite side of the globe.

Business and environment

Many people argue that business is a threat to life on our planet. They explain such thinking with
the pollution and wastes businesses product when producing goods. Somehow, they are right. Any
manufacturing includes carbon emission, water and soil pollution, energy consumption, etc.
However, such sacrifices are inevitable, because nothing in nature disappears and emerges from nowhere.

Luckily, many executives, companies, and shareholders have realized that it is time to change the
approach of running a business. As a result, the companies all over the world, huge and small
businesses, developed an environmental policy that requires working on decreasing the negative
impact on the ecology. Today we have numbers of sustainable, environmental-friendly businesses
and Eco products. It turned into a movement, a worldwide boom that deserves to be supported by
everyone.

To conclude, business affects all three parts of our lives, financial, technological, and social. It is
not only about providing the goods needed, but also the way to communicate, to develop, and
support each other. People all over the world are familiar with the business etiquette and business
language that proves the importance of business in today’s life. Business consolidates people all around the globe.