In the current generation characterized by rapid economic growth, there exist various profit enterprises. Society at large significantly contributes to these profit enterprises. However, these for-profit enterprises to the customers, society and the environment. The rapid economic development has substantially stimulated the growth of businesses. However, more attention has been centred on environmental issues and therefore it is essential that the controversial relationship existing between enterprises and the environment is specified (Rahdari, Sepasi, & Moradi, 2016). In essence, enterprises are in three categories which include; Financial Bottom line (FBL) which focuses on creating more and jobs. Another one is the Triple Bottom Line (TBL) which is centered on the assumption that low-quality jobs or fewer payments decreases performance, and Social and Ecological Thought (SET) centered on the assumption that low-quality job or minimal payment reduces the quality of life as well as increase inequality and polarization (Rahdari et al., 2016).
Businesses play an important role in a country’s economy therefore, rapid economic development leads to significant development and improved life. However, economic activities are normally accompanied by both ecological and social problems. Businesses are believed to bring more money which can help solve some problems and as well contribute to economic development. Therefore, for-profit enterprises have significantly emerged in the current society causing significant impact to the customers, society and environment. This paper will discuss the role of for-profit enterprises in ensuring the wellbeing of customers, society and the environment.
For-profit enterprises ensure that customers are satisfied with their services and products. These enterprises apply the concept of Social and Ecological Thought by ensuring that they provide high-quality products and services in order to achieve a good quality of life for its customers (Stevens, Moray, Bruneel, & Clarysse, 2015). A for-profit enterprise focuses on making a social impact on the customers as customer satisfaction is imparted into the business model. Profit enterprises normally focus on doing good for the customers. Therefore, they ensure that high-quality goods and services are provided for their customers. Provision of quality goods and services benefits the customers as their needs are satisfied fully. Also, a for-profit enterprise does provide a variety of goods and services under one roof. This facilitates easy and convenient access to diverse products and services by customers according to their needs.
Customers are able to get the products they need conveniently and on time. Self-enhancement and self-transcendence which are key guiding principles for people are practiced CEOs of for-profit which enable them to maximize on the society’s benefit (Stevens et al., 2015). Profit enterprises are also responsive to customers’ compliments and complaints by taking them into consideration in order to improve their products and services and as well to divert their operations to adequately address the needs of the customers.
This leads to increased customer satisfaction. In essence, for-profit enterprises play a big role in improving the wellbeing of their customers by adequately meeting their needs and providing high-quality services that are centered on improving the lives and wellbeing of the customer. For-profit enterprises also play a improving the economy by acting as role models to non-profit enterprises and reinforcing social innovation which benefit the society at large (Sepulveda, 2015). As a result, products and services that meet the required health and safety standards that will promote good health for the customers are produced for the society.
Contribution to society
For-profit enterprises play a big role in facilitating and enhancing economic development in society. Profit enterprises are centred on growth as the means to make more impact on society. Specifically, for-profit enterprises contribute to economic development in the society since these enterprises pay a lot of tax to the government and in return, the tax collected from them are used in development purposes such as the construction of public infrastructures and amenities (Agrawal & Agrawal, 2009). Society benefits from such developments as they enhance their livelihood. Moreover, for-profit enterprises as a source of employment in the society. These for-profit enterprises need workers to conduct the operations of the business and therefore, they employ people from the community to work for them. As a result, they help in creating employment and reducing unemployment rates in society (Agrawal & Agrawal, 2009).
Creation of employment further helps in minimizing crime rates in society and also improve the economic status of the society by reducing poverty. Moreover, for-profit enterprises also play a role in enhancing education in society. Some for-profit enterprises involve themselves in the education system to promote education in the society by providing education scholarships, especially to the needy students. Also, they provide financial aid to local schools which helps in improving the education levels in the society. Additionally, for-profit businesses contribute a lot to society by getting involved in community-based programs aimed at improving society.
Contribution to the environment
For-profit enterprises also play a big role in creating social responsibility towards achieving a clean and healthy environment. For-profit enterprises spearhead environmental conservation by ensuring that their practices are governed by environmental sustainability (Agrawal & Agrawal, 2009). They incorporate environmental sustainability in all their operations. In fact, for-profit enterprises act as examples in environmental conservation by following proper means of waste disposal and also ensuring proper manufacturing practice that is friendly to the environment. These enterprises take part in environmental conservation initiatives. Moreover, these enterprises fund such environmental conservation programs in order to ensure environmental sustainability. For-profit enterprises have a genuine commitment in their top business management in cultivating, maintaining and developing a work culture that is centred on environmental conservation and prevention of pollution (Agrawal & Agrawal, 2009).
For instance, these enterprises have developed a work culture whereby the employee is expected to use work processes that do not pollute the environment and also every employee has to take responsibility of taking care of the environment (Rahdari et al., 2016). These enterprises take corporate responsibility of protecting the environment by avoiding pollution of the environment. They have focused on clean production by employing the use of processes and technologies that do not pollute the environment. Most importantly, these enterprises abide by the environmental laws and standards set which contributes a lot to environmental conservation.
For-profit enterprises are centered on the Triple Bottom Line concept whereby they integrate both social responsibility and environmental protection. These enterprises play a big role in environmental protection by taking into consideration the environment in all their activities. In fact, for-profit enterprises have developed their own environmental protection policies in which every employee has to follow (Rahdari et al., 2016). This strategy has enhanced the Triple Bottom Line concept which by promoting social responsibility of every employee to protect the environment. Additionally, for-profit enterprises take part in protecting the environment by following the right procedures of waste disposal and management. Waste is managed efficiently and disposed of through appropriate means.
To sum up, profit enterprises pay a bigger role in ensuring the wellbeing of their customers, social and economic development of the society as well as environmental sustainability. These enterprises ensure that they meet the needs of their customers and satisfy them fully by providing them with timely and high-quality products and services. For-profit enterprises play an important role here in ensuring good health to their customers by providing high quality, healthy and safe products and services. Also, it is vivid that for-profit enterprises play an important role in the development of society. for-profit, enterprises contributes to economic development in the society since these enterprises pay a lot of tax to the government and in return, the tax collected from them are used in development purposes such as the construction of public infrastructures and amenities. Society benefits from such developments as they enhance their livelihood. Finally, for-profit enterprises play a role in environmental conservation as they spearhead environmental conservation by ensuring that their practices are governed by environmental sustainability as well as taking part in environmental conservation initiatives and programs. Therefore, it is clear that for-profit enterprises are very important in our day to day lives as they contribute a lot to the wellbeing of their customers, development in the society and also environmental conservation and protection.