Business and social development

Business and social development



Our economy is steadily moving on. This is easily noticeable as one can see business organisations filling our streets. This rapid increase in meaningful business activities can largely be attributed to the peace and stability we enjoy as well as the enviable prevailing good governance. The fact is highly demonstrable in the annual assessments of business institutions.

We do realise that as a business entity, the ultimate goal is maximisation of profit, but in the process of achieving such a goal, it is worth remembering that we are obliged to contribute to the socio-economic advancement of the society. The government alone cannot provide all what the people need. Suffice it to say that the theory of social development taught us to generate a framework around which all knowledge of the factors, instruments, conditions, agencies and processes of development can be integrated.

Rather than singling out a specific set of determinants or giving primacy to a limited set of instruments, it reveals the nature of the relationships and processes that govern the interaction of all these elements to generate developmental results. That is to say, partnerships for corporate social responsibility are a key to success.

Our business enterprises should therefore remember that fulfilling their social responsibility means participating in meaningful development ventures of the country. This will in fact enable them to establish their roots in the market, and hence make more profit, as they will appear as genuine agents of societal development in the eyes of the general clientele.

A good business institution is not one that amasses huge profit but one that puts the profit it amasses, regardless of the scale, towards the development of the people. As long as we enjoy what the society produces, society also has the right to enjoy our services. It is the combination of these that deliver socio-economic transformations.

There might be no better way of reciprocating the gesture by government of creating a viable business environment than by endeavouring to curb the ‘fly to quality syndrome’ and plough back the profit for the betterment of society. Fulfilling cooperate social responsibility is crucial in this. A common goal is achieved by a common action. We all have a stake in the development process.