Role of business in economic development and ethical practices in business
Answers
Explanation:
Business plays a vital role in the economic development and wealth of a country. Success in business translates to the economic well-being of a company and its residents through job creation and offering improved quality of life for the country's citizens.
The business has vital functioning in economic development and ethical practices. Both, are the related terms that complete the channelizing process.
EXPLANATION -
Business is the Independent or Group of people; that has come at a central point of spending and earning in the economy for personal and professional growth.
Business is a two-way process that generates money from the existing money and resources in the economic. This process of business leads to the development of society economically and socially.
-> Business give economic growth to society by -
•Generating incomes.
•Providing goods and services at wider ranges.
•By giving a technological boost.
•Advancement in the lifestyle.
•Generating awareness at all levels.
-> The Ethical practices it does through -
•Fulfilling social responsibility towards society.
•Creating value products at a reasonable price range.
•Providing cleans and healthy working conditions.
Conclusion-
All these how business helps to develop the business at the domestic as well as at the global levels in the economic and maintain the ethical practices that make a business a trustworthy business for customers as well as employees.
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