Perspective on Business Essay Example | Topics and Well Written Essays - 2000 words

Perspective on Business - Essay Example Business should in essence earn profits for its own good. This statement holds true for the business as a whole but the manner in which he has explained the statement suggests that business has to do a lot of social service work apart from the usual profit earning exercises that it usually undertakes on a consistent basis. Because of this, the aspect of Corporate Social Responsibility (CSR) has come about to the fold. This phenomenon is internal to an organization; as it dictates the manner in which it has to plan about the courses of action it has to carry out with respect to the society. This term basically deals with the organization’s set of operations that it carries out for the welfare of the society while existing within itself. However bringing in profits remains a significant aspect no matter what the ethical domains turn out to be. This is a reality and shall remain to be in the long range scheme of things. Moving on further with the discussion at hand regarding the responsibility of business units, we see that these concepts can be applied to a business in a very innovative fashion as well. The company can invest in the social arena with much return in mind, not in the short-term but of course in the long run. Such is the example of Shell, which has introduced education programs for children all over the globe thus acting as a consumer-friendly company. People in return like to buy products of Shell because it gives them the pleasure that some proportion of the money earned by Shell would be spent on its different social and literary programs. Culturally, this can prove to be a very vital agent that can really highlight the problem areas of different people within a particular environment and then go about correcting and reforming them in the best manner possible with the aid of funds and grants1. This is the basic way in which the business has been acting to do something for the sake of community welfare. The companies from the economic aspec ts can earn a due share with arranging all sorts of cultural activities in the name of charity that will benefit their cause and help the poor and needy. Speaking truly from an ethical viewpoint, it is the duty of any business that exists to satisfy a customer through its products and/or services to be responsive towards their needs and defer the financial sides concerned with the company. It is important though not to ignore the monetary aspect but to remain in the business in the first place for the ones the business is being done, it is essential to situate the resources onto them and then move on forward expanding the market share and the like. There are a number of companies that have continued to divest the consumers of their basic rights in the name of achieving certain financial ratios. However doing so does mean putting the business’ long term strategy at risk as the customers and the remaining stakeholders would not appreciate the fact that the enterprise does not v alue their concerns rather goes after the financial side. The need and thus the opportunity in the business world of present times is to get ourselves noticed and make the companies realize of their responsibilities that they owe to the customers. It is imperative on the part of the respective company’s leadership to understand that customers alone could shape up the future and visionary characteristics of the company and thus they have to be