REVIEW OF RELATED LITERATURE
The following are the Books and Publish materials that are related in my research study. Such related literatures are essential in providing insights and ideas regarding the research study.
Role and Responsibility of Businesses in the Society
In every aspect of our lives there is always business, no matter where you look you can see convenience stores, clothing shops and many more therefore, business as we know is dominating our society in terms of clothing, food, transportation and other material aspects. Businesses has objectives and that is to develop, produce and supply goods and services to its customers to satisfy its demands .
Businesses often have an impact in the community. When it is establish, it will create a lot of employment opportunities and add revenue to the barangay. The businesses can improve the living standard of the people, however businesses have also negative effects in terms of exploitation of resources and neglect for environment.
Corporate responsibility is a practice of the business sectors that involves creating initiatives for the benefit of the Society. It includes supplying goods and services that people cannot produce, creating jobs, continually developing goods and services, investing in the development of technologies and skills as well as spreading a good practice in different aspect of business. The main idea of the Corporate Social Responsibility is that the society benefits from Businesses. The role of the business is to contribute in the sustainable development of the society, aid in the economic growth, social development of the surrounding community, with also consideration for the environment.
Businesses often play a vital role in developing the society, it sets the trends of the society in order to lure the customers and gain profit. Businesses enables the society to progress by supplying and developing things that before are not present, by inventing, developing and mass producing things for the consumption of the people, it creates a new wave of progress. An example of such waves is the Industrial Revolution in Europe as well as the technological advancement in the Twentieth century. We can say that Businesses sets the progress and development of a society, it is like a springboard that initiates the changes in the society, either in Economic. Politics and the Socio-Cultural aspect of the society.
Importance of Businesses in our Society
Business is extremely important not just in a country’s economy but also to its ability to develop the progress of a country. It provides goods and services to the people. The Society and Business is interrelated, the business sector creates services and products, due to the needs and wants of the people, in return the people become the consumers of such services and products. An example of this is telephone, before letters were the main mode of communication, however due to clamor for more direct and fast type of communication, the business sector come up with the another mode of communication and that is when the telephone is develop until as time passed, the telephone underwent development and changes to suit the needs of the people. Technically through observing our society, we can state that almost everything we used in our everyday lives is made possible through business. Another importance of businesses is that it creates job for the people to have a source of income or money. It is evident that businesses create a numerous job opportunity for the people. It is evident that businesses need people to produce and sell their products as well as services.
Businesses often have a legal responsibility aside from the social responsibility of a business, which is the corporate social responsibility. The legal responsibility is referring to observance and application of the of the state, which the business is affiliated, it includes the payment of taxes . With the taxes the government can extend social services to its people. The taxes paid by the business sector helps in developing the country, which is why the business is important in our society.
Entrepreneurs are the people, who creates, manage and assumes the risk in business or enterprise. Filipinos are emerging entrepreneurs in a global paradigm. Although they encountered setbacks and problems, their resourcefulness and ingenuity lead to a successful business enterprise. The Filipino entrepreneur often engage in business, due to poverty and inability to find job. Setting up a business is one of their attempts to provide a meaningful source of income for their families. Many successful business has started from a scratch until they became successful. Their rags to riches has provided an inspiration to the people. An example of this is Manny Pangilinan and Manny Villar. They did not let poverty and social hindered their way achieving their potential as an entrepreneur. Entrepreneurship is part of the everyday lives of the Filipinos, every street or puroks, there are always businesses, ranging from tiangges or tindahan, food kiosk, small grocery stores, market vendors and other small scale business enterprise. The tiangge or tindahan is already part of the norm of the Filipino people. Most of the people frequent such establishment not just to buy daily commodities, but also to catch up to the latest gossips or news. The establishment has become a tool in exchanging views and opinions regarding numerous issues. The small and medium sized enterprise (SME), made up the largest percentage of Filipino entrepreneurs. The challenges encountered by the Filipino Entrepreneurs includes lack of research and development, inadequate access to technology as well a lack of capital to finance the business.