Philosophy of Business as I understand

Whenever I walked on the streets of Kanpur, India, I looked the world with curiosity. Always, I wondered why people keep working day and night on different things. Why is there a sense of guilt among people who are involved in business? Why wealth creation is not taken positively in society? More I thought about these things more I got confused. Then I started ignoring about society and business. Years went working for business without knowing business. When I started pursuing Post Graduate Programme with a goal of enhancing my career prospects, same questions started staring at me. I was again clueless but this time I was determined to form an opinion about business before start working for business.

Business should ideally work to create opportunities of growth by designing specialized services and segregating the tasks. To achieve this we need to make an environment where willful exchange of goods can happen freely. Business gives an opportunity to people to pursue their own interests and not bogged down by the complexity of earning a living. A poet is writing poems and that is valued by people. He is free to write poems and earn a living by creating beautiful poems. Business gives an opportunity to him to do what he likes and exchange his writing for some other goods such as food etc. In the most basic form, business is a liberating device for people.

Business works on the principles of interests sharing. A person can maximize his life’s achievement by focusing on things that interests him. In nutshell, Business creates value for everybody in the society: directly or indirectly. There are different stakeholders of business : Customers, suppliers, shareholders, employees , Top management, government and not to forget society as a whole. A business generates employment and fulfills the needs of customers. It creates value for shareholders and founders. But a business impacts society by generating value beyond its boundaries. Think about a shop which is selling healthy food and determined to sell only healthy food, its direct stakeholders get benefits but as people will not fall sick, doctors will get more time to attend others patients. Parents will fall less sick and that’s why they can spend more time with children.