Business as a bridge between social and economic development - Assignment Example

"Business as a Bridge between Social and Economic Development" Economic and social developments are two of the main achievements that a society aims to continually improve as time progresses on. These two factors aim at ensuring that the members of society are able to live a comfortable life with fewer financial hassles and better relationships between one another in a bid to come closer to a more utopian aspect of living (i.e. where no one has to suffer). However, economics and social goals do not always go together for at times the achievement of one may mean the relegation of the other to a back seat, and this has led to the question of whether acquisitive and functional goals are able to reside in the same space harmoniously.

A solution to this problem has risen in the form of business , and the practices involved with it that have strived not only to improve the financial gains of the individual behind it, but has also been given a social responsibility in the region it is located at as well (John and Dan 60). Business can be used as a bridge so to speak to close the gap formed by the differences in these two aspects. The social responsibility that is involved with business ensures that it is able to do this effectively and include a number of activities that technically do not hold any financial gain for the company/organization but better the lives of those living in the area in which it is located (Luis and David 23).

Some of these responsibilities include the provision of employment to individuals who residing in the area. When a company sets up in a given region, it is expected to offer the work available to those living within that area instead of outsourcing thus providing financial stability for the members of that society. The improved financial conditions also lead to better standards of living as well which happens to be a social goal (Richard 51). Another method business uses to bridge the gap between social and economic goals are the environmental responsibilities that it takes on.

Business do this through a number of ways such as ensuring that they do not pollute the area they are working from or their surrounding areas such as rivers and lakes. This is usually an aspect when a business handles the production of its own goods, and there are factories involved. Businesses can also make generous contributions to movements that are involved in the conservation of the environment if they are not directly involved in the activities. The donations made by the business can go a long way in improving the state of the environment in that area leaving it for the better since the arrival of that business (Richard 51).

Utilities such as roads and other infrastructure also benefit from the emergence of business/businesses in an area as the increased flow of traffic in that area attracted by the business leads to the improvement of these amenities. The activities such as construction of roads is done to provide better access to the business and can be done by the government once given the incentive at times with financial help from the business as well. All these developments are brought about by the emergence of a business in an area as well as the obvious economic developments that arise from its financial provisions (Luis and David 20).

ReferencesLuis, Gomez-Mejia, R., David, B. Balkin and Robert L. Cardy. Management: People, Performance, Change, 3rd edition, 2008. New York, New York USA: McGraw-Hill.John, Kotter, P. & Dan S. Cohen. The Heart of Change, 2002. Boston: Harvard Business School Publishing. Manfred F. R. Kets de Vries. The Dark Side of Leadership. Business Strategy Review 14(3), Autumn Page 26 (2003). Richard, Barrett. Training, Developing and Motivating People Business & Economics: Vocational Business, 2003. Cheltenham: Nelson Thornes.