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Business is not only for profit but also for nation building discuss

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Mary Ann Gayanilo Subject: Managerial Accounting "Business is not only for profit but also for nation building" Business is the cornerstone of prosperity in society: companies create the resources that permit development and welfare. The roles of business in society, through their commercial operations, actively contribute to progress of the nation. The basic objective of business is to develop, produce and supply goods and services to customers. This has to be done in such a way as to allow companies to make a profit, which in turn demands far more than just skills in companies' own fields and processes. ...read more.


The goods and services produced must meet demands made by customers, other companies or public institutions if companies are to survive. Profitability results when customers are prepared to pay more for goods and services than it costs to produce them. The ability to produce this kind of added value - profit - is the basic prerequisite for business, but it is also a foundation for prosperity in society. Only profitable companies are sustainable in the long term and capable of creating goods, services, processes, return on capital, work opportunities and a tax base. ...read more.


building up and spreading international standards, e.g. for environmental practices (5) spreading "good practice" in different areas, such as the environment and workplace safety. The role of business in the development of nation can be described in many ways. For a company to progress and develop, it must nurture relations with its stakeholders, of which there may be many. Some have a strong influence and are of fundamental importance to the survival of the company vis-�-vis with the society. People must be aware to enable the business to continually develop for the common good. Hence we may say that each role is for mutual benefits of nation and business itself. ?? ?? ?? ?? 1 ...read more.

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