There is a delicate relationship between business and society.  Businesses are generally established to earn an income and make a profit.  Society is dependent on business owners to supply them with the goods and services needed to live their lives.  In turn, businesses are dependent upon society to use their goods and services in order to make a living.  This relationship creates an economic cycle which is balances the supply, demand, and the economic future of society.

The economic relationship between business and society dates back to when our ancestors traded goods and services using the barter system.  It has evolved into a complex system of free enterprise and market giving individual citizens the opportunity to build a solid financial future for themselves and their family.  There are many types of businesses that serve society today.  In order for a business to be successful, it is important to understand the needs of society and produce a product that is desirable by the public.

Society contains several types of businesses.  There are businesses that are franchised, home based, corporate, or independently owned and operated.  Franchised businesses are generally owned by individuals who agree to distribute a company’s products or services through retail outlets or third party operators.  The franchise owner does business using the marketing methods and trademarked goods and services that come with the name recognition developed by the company.  In exchange for using their company name, the independent franchise owner pays an initial fee and royalties to the owner of the company.

 Home based businesses are appealing to many people who desire to work at home.  Young families often try to start a home based business in order to help them balance the needs of young children and the desire for a flexible work schedule.  There are several home based businesses that can be started for very little cost.  The success of these home based businesses is largely dependent upon the amount of time and energy spent building and marketing the goods and services the business provides.  Home based businesses can serve an important part in society because they provide the flexibility and resources to business owners. 

It is very difficult for individually owned and operated business to be successful in today’s society.  Our society is highly influenced by media and commercialization.  Society prefers to consume well recognized name brands and patronize businesses that heavily advertised.  Individually owned and operated businesses often lack the mass exposure of these marketing techniques in our society and are therefore generally less profitable than their franchised counterparts. 

Business and society are more successful when they work together to provide the goods and services desired by the population.  The success or failure of a business is highly dependent upon its ability to be recognized and serve a quality product to the society in which it operates.  On the other hand, society is largely dependent on businesses to supply them with the good and services needed to enhance their lives.