Introduction
A business refers to generating money by buying and selling goods and services. In addition, a business also means a process through which people eke out a living. Any form of lawful enterprise or activity is tailored to generate profits. Most people start a business that has separate names other than their own. However, that does not make such business entities different from their owners. In this case, the business owner is responsible and liable for any enterprise’s debts.
The Benefits of a Business
There are numerous benefits for a business because the enterprise is advantageous. Most people take risks to venture into a business, which forms part of their dreams (Bocken et al., 2019). Every person’s dream is to start a business that could be successful and provide numerous advantages. For example, a company offers benefits such as personal satisfaction, creative freedom, learning opportunities, financial rewards, enhanced lifestyle, and independence. In the case of independence, a business owner who starts an enterprise is independent and is his boss (Nosratabadi et al., 2019). In this case, it is every person’s dream to have financial, time, or otherwise freedom. Although a business comes with tremendous financial risks, it provides some form of financial independence. Most people who run their own business usually have an opportunity to make more money than if employed (Bocken et al., 2019). Therefore, such people benefit because of their hard work. A company is also beneficial because it gives the owner the benefit of having some particular lifestyle advantages. A business person is usually in charge of an enterprise and typically decides when and where to work.
Whether a Business Can Negatively Affect Society
It is true that a business adversely affects society because most enterprises have some adverse environmental impacts (Bocken et al., 2019). In addition, most decision-makers in the industry make unacceptable, unethical, immoral, and selfish decisions, which harm the business and society. For example, if a company discharges its effluent to the nearest river or water source, it is harmful to the environment because it will cause pollution (Nosratabadi et al., 2019). In many cases, enterprises lead to pollution (air and water pollution), particularly industries which adversely impact the nearby population. Other businesses do not have sustainable business practices because their operations harm future generations. Therefore, current companies should have processes that do not comprise the existence of future generations.
An Example of a Business that Benefited Society
An example of a business that benefited society is the Alibaba Group, which happens to be one of the world’s most prominent electronic commerce (e-commerce) companies. In this case, this is one business that has continued to impact so many lives worldwide (Nosratabadi et al., 2019). The Alibaba Group has connected millions of buyers to sellers, bringing considerable value to the community. As an online retailer, the business was rated as the fifth largest electronic commerce and artificial intelligence (AI) organization in 2020.
An Example of a Business that harmed Society
An example of a business that has harmed society is the McDonald’s fast-food chain which is very popular globally (Bocken et al., 2019). In this case, the brand has been responsible for providing unhealthy foods globally, leading to poor health. For example, most obese or overweight subjects in the US are linked to poor food options from the restaurant chain.
Conclusion
In conclusion, a business is any activity that generates money by buying and selling goods and services. Some companies come with various benefits such as financial rewards, enhanced lifestyles, creative freedom, and personal satisfaction. On the contrary, businesses also have adverse consequences such as environmental pollution and unhealthy food choices. An example of a company that has benefited society is the Alibaba Group. On the other hand, McDonald’s is an example of a business adversely affecting society.
References
Bocken, N., Boons, F., & Baldassarre, B. (2019). Sustainable business model experimentation by understanding ecologies of Business Models. Journal of Cleaner Production, 208, 1498–1512.
Nosratabadi, S., Mosavi, A., Shamshirband, S., Keivani, R., Zavadskas, E. K., & Rakotonirainy, A. (2019). Sustainable business models: A Review. Sustainability, 11, 3-31.