Business Makers

Chambers of Commerce are voluntary and non-profit-making organizations of all types of businessmen operating in particular territory, for the protection a promoting of the in tersest of the business community in general and do that territory in particular. A hamper of commerce is a representative body of businessmen. It differs form a trade association, as it does not confine its interests operations to only on particular trade or industry. Rather it represents the business community and particular region, country or the world as whole. The composition and constitution of a chamber of commerce differ form country to country. In France; they have a legal status and are entitled to operate public undertakings like docks, warehouses, etc. In other countries they are voluntary organizations. In India, every major State has its own chamber of commerce. Associated Chamber of Commerce, Indian Chamber of Commerce Bengal Camber Commerce, Indian Merchants Chamber, Delhi, Mariana and Punjab Chamber e commerce are a few examples. Many chambers of commerce are affiliated to the Federation of Indian Chambers of Commerce and Industry (FICCI), New Delhi, formed in 1926 or to the Associated Chambers of commerce (ASSOCHAM) Calcutta, sets up in 1920 to improve the terms and conditions of business bet venation and to encourage better international understanding.

The main functions of chambers of commerce are as follows:

Representing the business community on Government and other committees and conferences and keeping the government aware of the problems of trade and industry in the country;
Acting as the spokesman of the business community and making suggestion as representations for securing legislation that will foster trade industry;
Settling disputes among members by arbitration;
Educating public opinion the work and problems of the business community. Sending delegates and arranging trade fairs and exhibitions to further the interest of the business community.
Standardizing and improving trade practices through code of conduct;
Providing facilities for education and research;
Collecting an disseminating information reading to general business condition and keeping members informed of latest developments in the field of business;
Arranging lectures, seminars, discussions, etc., for the exchange of views between members;
Some chambers conduct examinations and awed diplomas and issue certificates of origin to exporters.

The responsibilities of business towards its shareholders are as follows:
To ensure safety of investment.
To provide a fair and regular dividend.
To provide regular, accurate and up-to-date information about the company.
To utilize the capital productively.
To ensure growth of business.
To offer reasonable opportunities for participation of shareholders in policy decisions.

The responsibilities of a business towards its employees are as under:
To give them fair wages a full employment.
To provide good working condition.
To offer security of service and job satisfaction.
To provide suitable opportunities for promotion and career advancement.
To develop a sense of belonging and dignity of labor.
To offer reasonable opportunity for participation in the management of business.
Employees are the greatest assets of a business. The improvement of their value is both a matter of material advantage and moral obligation.  They should be fully informed, fairly rewarded, properly assigned, trained and developed and treated as honorable individuals both on and off the job.

Some people criticize the concept of social responsibility.  They put forward the following arguments to oppose the assumption of social responsibilities by businessmen.

Dilution of Business Goals: If a business firm involves it in social activities, its economic goals might get diluted. Its positing in the market place might be weakened.  As a result it may accomplish poorly in both its economic social goals. Society will lose when productivity of business declines.  The economic role of business in society would also become confused.

Lack of Social Skill: Generally businessmen lack the perception a skill required for effective handling of social problems.  Their outlook is primarily economic and they do not feel comfortable with social mattes.  Their mental make up is suited for handling business matters only.

Rise in Prices: Social involvement of business requires financial expenditure.  Unless the government or social institution bear the costs, business is likely to pass his cost on to consumers by increasing the prices of goods and services.

Lack of Accountability: A business enterprise is responsible mainly to its owners.  Involvement of business in social matters will give businessmen more owners.  As public has little control over them it swills be difficult to check miscue of this power.  If different sections of society are represented in the management of business to ensure accountability, decision-making process would become political and freedom of enterprise would be undermined.

Reeducation in Competitiveness: If business firms are asked to spend considerable money on social activities, their competitive position in international markets may go down.

Lack of Measurement: There are no clear-cut criteria to judge the social performance of a business enterprise.  Economic values are the only precise criteria to measure the performance of business.  Moreover, business corporations are not more agents.
The arguments given above suffer from tow limitations.  First, they require business firms to ignore social demands on them.  Business enterprises cannot afford to do so.  Business concerns are no longer mere economic institutions.  They are also social institutions. Businessmen are trustees of various social groups.  Secondly, these arguments overstress the power and influence, which businesses may exercise by assuming social responsibilities.

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[Discloser: this is psid post]

A well known name automobile industry in India TATA motors chairman Ratan Tata said that they have good expectation in automobiles area in United Kingdom, in a likely recurrence of his significance in Land Rover and Jaguar. On the occasion of inauguration of Tata Corus plant at Netherlands.
While everyone expecting that he will not comment on the deal itself, “This process is on his path and it is practically private”. Tata motors have show interest in the ford’s Land Rover and Jaguar brands. According to expert opinion this deal will be worth more than USD 1.5 billion.
TATA motors great value in Indian automobile industry and now waving in wing by expanding and forwarding their steps toward global market. TATA earlier announced his 1 lakh car project in which they introducing a car worth Rs. 1 lakh. Let’s hope for the best as it will soon be on news.