Should Business have any National Objectives?

“A business does not exist for itself only. It contributes substantially to the national setup. It should cater to the needs and requirements of the nation and meet priorities fixed by the government. ”

Everybody would agree with me that people do business for profit and not for some social, national, ethical rationale or any other noble purpose. To do business totally in an honest manner is almost impossible because business manipulations are considered to be good profit-making strategies.

These are usually the products of very fertile minds that know what they want to do and in which direction the want to take their business. Nation or society do not and cannot come in their profit making ways.

But still a business does not exist for itself only. It contributes substantially to the national setup. It should cater to the needs and requirements of the nation and meet priorities fixed by the government.

A business can have many additional objectives like helping national efforts of improving economic position of the society. Every government fixes national priorities for the nation that has not developed or is still in the developing phase.

Businessmen should enter those fields of industrial activities, which usually remain neglected. Rural industrialization and balanced regional growth are the priorities of almost every developing nation and these should be addressed to by the business people.

Businessmen should set up new units in backward and underdeveloped areas so that people living there get employment opportunities and resources available there are used in an optimum way.

There may be certain items, which are short in supply. It is the duty of business entrepreneurs to produce goods on the basis of need and not on the basis of profit margins ( although it only seems to be wishful thinking)

Big business houses should help in the development of small undertakings. They should not treat small-scale companies as their competitors. Small units should be patronized by purchasing their products for further assembling, enhancement etc. Big units may also help them by encouraging ancillary units to sell their products to them and arranging industrial inputs for them.

Business can play an important role in making a nation self-reliant. Efforts should be made to produce those goods, which find ready market in foreign countries. This helps a lot in earning foreign exchange. Gradually, a self-reliant nation is able to garner immense esteem in the international community.

Author - DeeKay

Tags - Finance, Economy

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