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Free «Role of Business in Society» Essay Sample

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This essay aims at endowing the reader with a number of answers that debunk the responsibilities of business entities in society.  It is clear that managerial entrepreneurship in corporate governance is the pure body of ideas that the management seek to adequately achieve the interests of the stakeholders. However, the recurrent interference from the government results in a number of problems on how corporate operates. These government regulations have restricted business operations. As a result they impede competitive advantage that corporate should have in the market. This is because the government regulations articulate that organizations adhere to a given set of predefined guidelines that govern how they interact with the external environment. Therefore, organizations end up operating in small portions of the market which they seek to monopolize. This activity kills the competitive behaviour which is inherent in any business setting. The government regulations hamper how the organizations produce and how employees complete their tasks. This is because these operations must adhere to the government regulations.  This actually leads to decrease of productivity (Jennings, 2009).

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All corporate organizations have stakeholders. Stakeholders are groups of people or individuals who directly benefit from the operations of the organization or they are directly harmed by its operations.  Therefore, they have special claim in the organization. According to Freeman Jennings (2009), there are two types of stakeholders in an organization. There are stakeholders who are crucial to the success and survival of the organization. This group of stakeholder involves the owners, employees and management. The other faction of stakeholders involves people or groups that can be affected by the operations of the organization or they can affect its operations. They include customers, suppliers and local communities. The government is also an indirect stakeholder. It makes sure that organizations adhere to statutory regulations.  It is paramount to note that competitors are not stakeholders in any organization. This is because they do not play any role in the success or the survival of the organization (Jennings, 2009).

 
 
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The management is a crucial facet in any modern organization. It is entailed with safe guarding the interests of the organization by harmonising the conflicting multiple claims made by each facet of stakeholders. Therefore, this role of the top management is of the same kind as that depicted by King Solomon. This is because the top management should not give precedence to any facet of stakeholders in meeting their demands. It should always balance their demands. This is because imbalance in meeting these demands endangers the well being of the organization and it is very survival. It is imperative that one way of attaining this stakeholder equilibrium is applying Kant’s dictum which articulates that organizations should treat appropriately each of the relevant stakeholder. For instance, the organization benefits from the local community by building its facilities there. In return, the community benefits from taxes the organization pays and its social responsibility and contribution. It is also expected that the organization will refrain from environmental degradation through pollution (Shaw, 2010).

The Phoenix Airport expansion revolves around the need to meet the increased demand of commercial airliners and public to travel. As a result, top managerial technocrats in Phoenix proposed its expansion by building two more runways. The expansion would create more jobs. Businesses and the aviation industry supported the expansion plans. However, the expansion would result in the demolition or a number of homes that fell in the paths of the new proposed runways. As a result, the plan faced opposition from campaign groups that advocated for environmental safety. They opposed the expansion stating that building new runways would increase the amount of noise pollution from the airport. This is because it would increase the air traffic levels.  Therefore, the airport should abandon the expansion plans (Kleber, 2001).

   

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