Society is an organized voluntary association of people for religious, benevolent, cultural, scientific, political, patriotic, or other purpose. In other words, a society is a group of people involved in persistent social interaction, or a large social group sharing the same geographical or social territory, typically subject to the same political authority and dominant cultural expectations. Similarly, a business is any organization that strives for profits by providing goods and services that meet customer needs. It covers different actions like management, manufacturing, finance, trade, service, investment, etc. The business must produce and offer products and services that customers need and desire.
Every business has complex relationships with many people, groups, and organizations in society. Some are intended and desired; others are unintentional and not desired. Business, which one could refer to as economics, is important to society because it fundamentally deals with the allocation of resources throughout the world. These resources always suffer from scarcity, in that there will always be a higher demand for resources than there will actually be available. In this modern era, business ethics, CSR and corporate governance are the issues of society specially discussed in the modern business organizations.
This book of Business and Society is intended to meet the requirement of Bachelor’s Degree Students of Pokhara University. This book is prepared according to the prescribed curriculum of 6th semester of BBA of this university. We have a great pleasure in presenting the book to the teachers, students and every one interested in ‘business and society’ with the immense hope of satisfying course and knowledge needs. Besides, academic text book, it is expected that the book will be a reference book to all practicing managers or organizations, and helpful resource for anybody interested in this subject matter. Every effort has been made to give the students the essential information they need for the course. Every important concepts, methods and techniques of principles of ‘business and society’ including business ethics, corporate governance and corporate social responsibility has been explained by providing simple examples and descriptions.
As we believe, book is the means of transferring knowledge which must be understood in cent percent as its objectives. This book includes necessary points, figures, and pictures to make the students understand systematically along with model questions at the end of the book. A sincere attempt has been made to present the text in simple style. At the end of every chapter, “Very Short Answer Questions”, and “Descriptive Answer Questions”, are presented in a systematic manner as per model questions pattern. As the last section of this book, all the chapter related cases are given for the purpose of making students better understanding of this book as well as to prepare and generate different managerial skills to solve ethical problems in the organization.