Lesson 2

• Business

  ●The activity of making, buying or selling goods or providing services in exchange of money.
• Purpose

  ●to provide the needs of society

  ●to contribute to the common good
• "In such an economy, there is one and only one social responsibility of business-to use its resources and engage in activities designed to increase its profits so long as its stays within the rules of the game, which is to say, engage in open and free competition, without deception or fraud" - Milton Freidman (Capitalism and Freedom)
• Profit or Social Good?

  ●primary: to provide socioeconomic development

  ●secondary: to gain profit

  -Paul Camenisch
• PAUL F. CAMENISCH

  •Business exists to respond to the societal needs for life-sustenance and life-enhancement.
• RONALD F. DUSKA

  •Business is seen as distinct from other organizations and institutions. Business, if for profit.
• *Creating Job Opportunities*

  ●workforce: an important element in businesses

  ●employment: With a stable source of income, people can spend on services and products .

  ●Businesses can generate jobs directly.

  ●Their activities can revitalize other sectors of the economy.
• Economy- is the process or system by which goods and services are produced, sold, and bought in an area.
• *Contributing to Community Development*

  Businesses are usually involved in the social activities of their communities.

  ●charities

  ●volunteer programs

  ●relief and rehabilitation missions
• *Contributing to Community Development*

  ●Social activities create a symbiotic relationship between businesses and the community.