Business Makers

Business is expected to work for the economic and social well being of the community. The responsibilities of business towards the society as a corporate citizen are as follows:

To make optimum utilization of national resources.
To generate maximum opportunities for gainful employment.
To protect the natural environment formal types of pollution.
To promote communal harmony and peas in society.
To uplift the weaker sections of society such as handicapped, orphans, widows, scheduled castled, etc.
To promote national interrogation and democratic institutions.
To preserved and promote social and cultural values.
To undertake research and development so as to improve quality and reduce costs.

A business owes the following responsibilities to the government:

To comply voluntarily with the laws passed by the government.
To pay taxes and duties honestly and in time.
To make constructive suggestions regarding formulation of policies which have a bearing on business?
To cooperate with the executive organs of the government regarding proper implementation of laws and policies.
To cooperate with the executive organs of the government regarding proper implementation of laws and policies.
To support the efforts of the government for improving the quality of life of people and in solving the pressing national problems in the country.
To plan and establish new endures joint rural and backward areas in the interest of balanced regional development of the country.
To continue towards rescue and relief work in times of national calamity or disaster such s droughts, floods, earthquake, etc.

Business should assume social responsibility due to the following reasons:

It is in the long term interest of business

It will help to improve the public image of business

It will avoid government regulation of business activities

It is important to full fill social obligations unmoral

Consumers are now more conscious of their rights and demand such obligations from business enterprises.
Social obligations refer to the obligations or responsibilities of business to act in manner which will serve the best interests often society. Social obligations are different form legal obligations. Legal obligations are compulsory and can be fulfilled merely by complying with the law. Social obligations, on the other hand, relate to the voluntary efforts on the part of businessmen to sue social problems. The concept of social obligation is based on the assumption that what is good for society is also good for business.
Business should assume social obligations due jot the following reasons:
Long Term Interest of Business: Business gees its resources form the society. It is the duty of business to satisfy the needs of society. If business spends a part of is profits for improving social conditions, it will rat an environment more favorable to the long term prosperity of business. Education, pollution control, enlistment of the poor and such other measures can be adopted or the improvement of society In the long run, a successful business can be built on the foundations of a happy community. Thus. Assumption of social obligations is in the long-term interest of business itself.
Public Image: A business firm can improve its public image by fulfilling its social obligations. Such a business will enjoy the support of is customs and other interest groups. They will patronize it and as a result, it will earn more profits.
Avoidance of Government Control; If businessmen voluntarily discharge their social obligations, need of government controls avoided. Government control is costly to business as it reduces the flexibility for decision king. For example, if a factory is causing pollution of air or water, the owner should take steps to prevent I. if this in not done, government may ask the firm to shift to another area or to close down. By assuming social obligations, businessmen cnmaintain freedom of enterprise.
MoralJustificatioin: Everybusienss enterprise makes use of physical, financial and human resources of the society. It also depends intersociety for sale of goods and services. Moreover, business firms make use of roads, power, water supply and other common facilities provided by the society. Therefore, it is the moral responsibility of business to use all resource for the well-being of society. Businessmen also have the knowledge, experience and he financé to cooperate with the government and help the society in solving its problems.
Social Awareness: In recent years, consumes have become increasingly aware of their rights. Consumed groups and consumed courts are compelling business mentor dress the grievances of consumes. Works have gone united in the form of trade unions to protect their interests. These dovecotes make it necessary for businessmen to serve the interests of consumes, employees and other interest groups.
Social Power: Business enjoys considerable social pawed because its decisions affect all sections of society. Social responsibility is necessary to balance power and responsibility. If business does not assume obligations to society, the swear of society will be affected. Other social groups may take away the social power of business.,
Resources Skills: Business has considerable resources ad skills some of which fan is useful involving society’s problems. Busies is also known for its innovative skills sands efficiency in the use of physical so financial resources. These deform business should help the society.
Creator of Social Problem: Business causes pollution and makes work places unsafe therefore it is the responsibility of business to help society in dealing with the negative impact of business activities.

One of India’s leading global IT services companies HCL Technologies and i2 Technologies, Inc. bringing the power of the i2 Business Content Library to customers worldwide. The companies will leverage HCL’s strength in IT services and vast experience in system integration and implementation, with i2’s deep supply chain management domain knowledge and market-leading products, to create innovative solutions for companies in the supply chain management domain.

“As global supply chain management continues to grow increasingly complex, many companies are facing pressure to become more agile in their supply chain planning,” said Ram Krishna, Corporate VP, Enterprise Transformation Services (ETS), HCL Technologies. “The agreement with i2 is a natural fit for HCL as we share a common goal of delivering customers measurable results through strategic supply chain business transformations. HCL brings the added advantage of an integrated service delivery that spans from high-end process consulting and application implementation/support, to infrastructure setup/management, large infrastructure management and BPO in the supply chain domain.”

HCL Technologies will now have access to i2’s Business Content Library, a robust knowledge base of best practices for supply chain processes that have been successfully implemented across numerous industries worldwide. The i2 Business Content Library will further strengthen HCL’s ETS capabilities and enable HCL’s customers to accelerate the value they receive from supply chain management solutions and resolve their supply chain issues quickly and efficiently.

“Working with HCL offers us the opportunity to expose more companies to the unique business benefits of the i2 Business Content Library. With a focus on business transformation, HCL is well-suited to introduce companies to the benefits of the i2 Business Content Library. The i2 Business Content Library is an excellent tool for companies looking to transform their supply chains, as it allows users to rapidly tailor workflows according to their business goals and requirements, or use components of workflows to build their own and then implement them across the enterprise,” said i2 Interim Chief Executive Officer, Dr. Pallab Chatterjee.

Benefits of the i2 Business Content Library:

– Access to world-class supply chain management best practices

– A framework to allow companies to achieve process excellence and continuous process innovation

– The ability to support new business innovation and make solution changes quickly and easily to keep up with changing needs of business

– Custom workflow development delivered quickly and easily at a lower total cost of ownership

– No waiting for maintenance releases or upgrades; new workflows will be published and available for download as soon as they are produced

– Flexible pricing options include annual subscription and “pay per design”

SOURCE: i2 Technologies

Continuing its push to draw more business travelers and boost revenue, Southwest Airlines Co. launched a “Business Select” product that will reward frequent fliers willing to pay the highest fare.

Starting Thursday, passengers purchasing tickets in the new “Business Select” fare category will get preferred boarding, a free cocktail voucher, and bonus frequent-flier award credits to earn free tickets faster.

Fares in the new Business Select category will be $10 to $30 more one-way than the current highest-priced tickets sold by the Dallas-based airline. Chief Executive Gary Kelly expects the new product, along with other tweaks in the airline’s fare structure, to generate at least $100 million more in annual revenue starting next year.

“This is the first step in what we call our implementation phase” of targeting more business travelers, he said.

Operating costs at Southwest, known for its low-cost model, have been rising and forcing the airline to raise fares more aggressively. Targeting more business travelers is a key way in which Southwest expects it can boost revenue. The airline’s lack of assigned seating has been a problem for many business travelers who have had to check in online or at the airport early, and line up at the gate early, to ensure getting a good seat. Passengers generally have to be in the “A” boarding group to ensure a window or aisle seat.

Southwest recently changed its boarding policy to avoid passengers’ having to line up so early at the gate. Starting Thursday, it will launch a new policy that guarantees “A” group boarding to passengers who have flown 16 round-trips with the airline in one year.

CEO of Startech Environmental Corporation updated the investment community in an all-new interview with wallst.net. Topics covered in the interview include an overview of the company, recent press, the market opportunity and upcoming milestones for which investors should watch.

Startech is the Environment and Energy Company and it is internationally recognized, award-winning environment and energy industry company engaged in the production and sale of its innovative, proprietary plasma processing equipment known as the Plasma Converter System(TM).

The Plasma Converter System safely and economically destroys wastes, no matter how hazardous or lethal, and turns most into useful and valuable products. In doing so, the System protects the environment and helps to improve public health and safety. The System achieves closed-loop elemental recycling to safely and irreversibly destroy Municipal Solid Waste, organics and inorganics, solids, liquids and gases, hazardous and non-hazardous waste, industrial by-products and also items such as “e-waste,” medical waste, chemical industry waste and other specialty wastes, while converting many of them into useful commodity products that can include metals and a synthesis-gas called Plasma Converted Gas (PCG) (TM).

Among the many commercial uses for PCG, is its use to produce “green electrical power,” Gas-To-Liquid (GTL) fuels such as ethanol, synthetic diesel fuel and other higher alcohol “alternative” fuels. Hydrogen, for use and sale, can also be separated and recovered from the PCG synthesis gas mixture.

The Startech Plasma Converter is essentially a manufacturing system producing valuable commodity products from feedstock-materials that were previously regarded as wastes. Startech regards all wastes, hazardous and non-hazardous, as valuable renewable resources.

About WallSt.net: is owned and operated by WallStreet Direct, Inc., a wholly owned subsidiary of Financial Media Group, Inc. The Web site is a leading provider of timely business news, executive interviews, multimedia content and research tools. Financial Media Group, Inc. also owns mywallst.net, a financial social network for investors, and Financial Filings Corp., a provider of compliance solutions to publicly traded companies. Additionally, WallStreet Direct, Inc. owns and operates WallStRadio, a business and finance podcast Web site.

Source: startech.net and wallst.net

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Earning of profits is very necessary in business due to the following reasons:

1. Reward for risk bearing: Business is full of risks. No one will take the risk without the incentive of profit. Profit is the motivating force because it serves as a reward for bearing the risks of business.

2. Survival: No business can survive for long without earning profits. Profis are the lubricants that drive the wheels of business. A business can maintain its profit earning capacity by replacing its obsolete assets.

3. Growth and expansion: Profits are he internal source of finance or the expansion of business. A business can grow if it continues to develop new products, services, markets and processes. For this purpose continuous research and development is necessary .Profits provide the capital for research and development. Reinvestment of earnings is the best method of financing expansion and growth of business.

4. Reputation: A profit –making business commands prestige and recognition in society. Goodwill helps business to obtain funds and attract talented employees.

5. Measure of success: Profit is the indicator of success in business. More efficient a business is, greater are its profits. Profit is the index of performance of businesses.

6. Means of livelihood: Profits provide the means of livelihood to businessmen and their families.

Structure Of Business

Structure of business means the way business activities are organized. The broad categories of activities which together constitute business is known as the structure of business. Study of the structure of business involves understanding various categories of business activities. Business activities may be classified on the basis of six (small scale and large scale), ownership (private sector, public sector and joint sector) and function (industry and commerce).

Business is regarded an economic activity due to the following reasons:

(i) The purpose of every business activity is to create wealth ad profit.

(ii) It involves sale, exchange, purchase of goods and services for mutual profit through the satisfaction of human wants.

(iii) Business requires use of scarce economic resources like land, lour, capital and machinery.

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