Many people do not recognize the good that trade does for society. If you are in business, receiving money from people who are buying your product voluntarily, some will think you are greedy and just want other people’s money. How do we know you are lifting society up as you do business?
Lifting society while doing business is an art and to showcase you are not greedy one must look for becoming Corporate Social Citizen by investing in social welfare and CSR causes, listening to customers concerns, rolling products for free and discounted rates for underprivileged and catering to lowest quintile of income at Rural areas where penetration is low.
Offering best quality at affordable prices where competitors fail to emulate is the key to stay ahead of curve, weedout competition and make customers loyal and always loving your company through Cost Leadership and Differentiation market strategy as described by Michael Porter.
Trade can be seen as a mutually beneficial exchange between two parties. When someone buys a product from a business, they do so because they value the product more than the money they are giving up, and the business sells the product because they value the money more than the product. This exchange creates value for both parties involved.
Moreover, trade allows businesses to specialize in producing what they are best at, and in turn, consumers benefit from the increased efficiency and lower prices that result. This leads to increased productivity and economic growth, which benefits society as a whole.
Additionally, businesses create jobs, which in turn provide income for people to support themselves and their families. This income can be spent on goods and services, further boosting economic activity and benefiting society.
In short, trade and business can have positive effects on society, including increased efficiency, lower prices, job creation, and economic growth. These benefits can be seen as indicators that businesses are not simply motivated by greed, but rather by a desire to create value for themselves and society as a whole.
Many people do not recognize the good that trade does for society. If you are in...
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