Business and Society: A Symbiotic Relationship
- Title
- Business and Society: A Symbiotic Relationship
- Creator
- Manimala M.J.; Thomas P.; Mahadev N.
- Description
- Business can be a for-profit, not-for-profit or hybrid organization. But all these businesses focus on the satisfaction of their stakeholders. Although many businesses adopt a limited perspective of their stakeholders, focusing primarily on the interests of their investors, customers and, in some cases, their employees, it is a fact that the long-term sustainability of any business will depend on its contributions to the society. The long-term objective of all businesses is to serve and support the society and contribute to the socioeconomic development of their people. Therefore, this chapter presents a comprehensive review of the relationship between business and society, with special reference to the three main types of businesses: commercial businesses, social enterprises and non-governmental organizations. As in the case of biological systems, the relationship between business and society may be characterized predominantly by one of the three types of symbiotic relationships: mutualism, commensalism and parasitism. However, the successful co-existence of business and society, in the long run, would depend on the degree of mutualism in their relationship. 2024 by World Scientific Publishing Co. Pte. Ltd.
- Source
- Emerging Issues and Trends in Indian Business and Management: Volume 2: Business and Society: Issues and Cases in the Indian Context, Vol-2, pp. 3-52.
- Date
- 2024-01-01
- Publisher
- World Scientific Publishing Co.
- Subject
- Business; Commensalism; Commercial enterprises; Ecoindustrial parks; Industrial symbiosis; Mutualism; Non-governmental organizations; Parasitism; Social enterprises; Society; Symbiotic relationship
- Coverage
- Manimala M.J., Indian Institute of Management, Bangalore, India; Thomas P., CHRIST (Deemed to be University), Bangalore, India; Mahadev N., BNM Institute of Technology, Bangalore, India, Department of Business Administration, India
- Rights
- Restricted Access
- Relation
- ISBN: 978-981128667-4; 978-981128666-7
- Format
- Online
- Language
- English
- Type
- Book chapter
Collection
Citation
Manimala M.J.; Thomas P.; Mahadev N., “Business and Society: A Symbiotic Relationship,” CHRIST (Deemed To Be University) Institutional Repository, accessed February 24, 2025, https://archives.christuniversity.in/items/show/18071.