RELATIONSHIP BETWEEN BUSINESS AND SOCIETY: HOW BUSINESS CAN ACT AS A FORCE FOR GOOD ON THE SOCIETY.

Our world today is not one that encourages anyone to sit with arms folded. Continuously, human being are involved in one activity or the other  which can be used as a means of generating income to satisfy their unlimited want. Such activities

are referred to as business and human being formed the society itself. It will suffice to say that the relationship between business and society is the interaction between business entities and people in the society. Impressively, anybody can go in to business without any necessary experience whether large scale or small market enterprise. Many organisations, Individuals and groups today run different kinds of business irrespective of their level of education, capital or exposure. But with the prevalence of business, of what effect is it to the society?

I can categorically say that business can make a big impact on the society positively and negatively. The negative effect business has on the society are as follow; according to survey in business cooperation, it was discovered that they take advantage of tax loopholes to avoid paying their fair shares. Most of them are guilty of tax evasion and tax avoidance which does not help the economy of the nation. Business can also damage the environment as a result of smokes from generators used by offices building that have huge need for electricity to power lightening and waste produced by offices including unwanted papers and equipment. Traffic jams in towns by commercial vehicles causes wastage of time. In fact, Purchased contaminated cooked food from unknown sources, exposure to loud noise and harmful dust from producing industries could be dangerous to human health.

On the other hand, despite all these problems, business can also be a good force on the society to a very large extent.

Firstly, Business enhances human sustenance and development. The major purpose of business is to create wealth. Record of the most successful men and women today revealed those who ventured into business to transform livelihood. Individuals and business groups take charge of their lives by saving little money using their own resources rather than relying on external support. While Bangladesh led the world in micro credit, Africans are known for using micro savings as an approach to poverty and financial exclusion. Sometimes, tax paid by business cooperation is used by government to maintain transportation and social amenities which includes infrastructures among others. Business also helps to enlighten and educate business owners and their employees in other to develop their skills and creativity.

Secondly, business create a vicious research, invention and innovation circle with ever increasing investment in technology, crop and material production, importation and exportation. It should be noted that investment and productivity can contribute to the Gross national product (GNP) of the nation. Sometimes, due to high tariff placed on importation of good, new ideas could be introduced to do a work better so as to bring about new product out of the existing ones. For instance, in congo, livestock business were faced with high price for imported animal feed for 7years. Now, the young people association of des jeunes fabricants die tourteau palmsite du congo (AJFTPC) has produced and marketed palm kernel cake, an affordable and quality product. In modern day business, the market becomes more competitive that business owners take necessary measure to maintain good relationship with their customers.it could be through distribution of incentives or in form of discount.

Thirdly, many nations are faced with unemployment but little was done to tackle this mishap. Don’t forget that unemployment rate is a very important indicator of a country’s economic strength and growth. In the midst of this problem, businesses are created by entrepreneurs and managed by their employees or hired labour. Jobs are created and salaries or wages are paid thereby reducing the rate of unemployment. So long it enables people to have a standard of living; business will remain an important source of employment.

Fourthly, in an increasingly environmentally conscious world business owners are obliged to protect the environment. They are also environmentally responsible by integrating sustainable development concept in all business activities. For example, in Agribusiness, green aluminium sheeting is used rather than zinc for roofing materials and solar energy is also used as power supply in buildings. Business makes a big impact through efforts of clean energy initiatives, recycling and water conservation. For instance, It has become hard to find used vehicle batteries in Cameroon. Young people are now collecting and selling them for 500CFA to a local recycling company. According to experts, one battery is enough to pollute a 400m area.

 In Malawi, women are selling compost made from urban waste to the growing horticulture industry. The community based-waste management is improving sanitation while strengthening the income and food security of poor urban household.

Lastly, we should understand that the relationship between business and society is an importance part of social integration and conduct. The impact of business has a positive effect on the relationship between states particularly in forms of development and technical cooperation, aid, and investment. Nations form association groups such as commonwealth, UNESCO and UN where an avenue is created to deliberate on issues affecting each state either positively or negatively. Even within states there are business associations that constitute persons of like-mind who come together to develop a common vision and a well-defined target. During meetings, members interact and they are encouraged to maintain group participation and transparency when group replicate. This has also promoted franchising and close integration between large business owners and small business enterprise.

In a nutshell, business generally has touched and improved different sphere of the society. Regardless of its negative impact, it will still remain an inevitable phenomenon in the growth and existence of a society. Or do you think the world can exist or survive without business? I would say a world without business is an incomplete and empty universe.

#ubuntupeople

Written and edited by:

Ayanlowo Oluwatobi Veronica