Business Studies Roles

What are the social and economical roles of business?

Business is organised work that is done to provide and sell a product to customers for a profit. Business is important because it provides goods and services to customers and provides jobs for the employees   that work in that business. A life without business is impossible to imagine because business has so many more roles than to just provide goods and services and jobs for people.
Businesses play a large social and economic role in out society. The social role can be seen when the actions of businesses contribute to the quality of life and happiness of members of our society. When, for example, McDonalds holds its McHappy day, it is playing a social role in society by donating money to Ronald McDonald House, a rest house for families and of terminally ill children, and assisting a variety of local charities.
Businesses also play an enormous economic role by creating wealth, employment, choice and entrepreneurship. Businesses provide employment and investment opportunities. Through the skill of business people, new ideas are transformed into products that enable us to enjoy a high standard of living.
The generation of profit is the primary role of business. The production of goods and services is the means of fulfilling this role. An example of this is Westfarmers. By working towards achieving its aims, Westfarmers hopes to increase its market share and maximise the return to investors in the company. The investors are the shareholders in Westfarmers.
One booming product is Coca - Cola.
The Coca-Cola company started out as an insignificant one man business and over the last one hundred and ten years it has grown into one of the largest companies in the world. The first operator of the company was Dr. John Pemberton and the current operator is Roberto Goizueta. Without societies help, Coca-Cola could not have become over a 50 billion dollar business.
Coca-Cola is worth more than 58...