Is it all for Profit?

For most of us, we believe that business is all about profit. If I ask you now about business, I’m sure your answer would be business is an economic activity undertaken by businessmen for profit. This definition is not as simple in concept as it is simple statement.

Business has never been easy to define and conceptualized. It is easier to go into it in practical terms. And it is easier to analyze it in specific details where thinkers and practitioners may specialize than to put the details together in one whole concept and truly say “this is it.”

The term business may be viewed from two perspectives namely, (a) general, which includes any human undertaking; and (b) specific, which refers to the economic activity undertaken by businessmen.

Any human undertakings can be consider as business just like making negotiations and managing people. Whether we like it or not business is everywhere. When you go on a date - that's business. Making agreement ia s business transaction because it involves risk-taking. To be more specific, yes business is for profit undertaken by businessmen. But to say that it is undertaken for profit does not mean that it is undertaken for profit only. The philosophical imperatives provide principles for business for behavioral mode which specifies the business ethics and the principles aims to provide quality life which gives social responsibility.

Business is first and foremost a fundamental social process, the primary objective of which is to satisfy human needs. We know that we cannot make everything for us. The nature of man in his perfection and imperfections gives him the need for completion and need for complementation. Because of scarcity, this natural social process creates industry responsible for the economic function of providing society with a venue for goods and services and filling in the gap between the goods and those who need the goods. The emergence of industry has generated opportunities for businessmen and business firms to undertake the specific activities of production and distribution, thus performing economic service motivated by profit. The whole cycle provides man with his economic goods to satisfy his human needs.

We should be corrected of what we know that the business of business is to do business. This is the reason why business should take part in helping the society by their corporate social responsibility. We are all responsible of what we are doing. Although we are naturally self-centered as I mention in my previous blog but real happiness can be found from others. Self-fulfillment can only be achieved and more meaningful if others are being considered in which they became happy of what you achieved. You can never be of what you are today without the people around you. Sharing is always our business and that’s the bottom line.

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