Answer: The relationship between Business and society depend on each other. Businesses provide jobs, products, and services, while society offers workers, resources, and customers. This connection helps both grow and succeed together.
Business and society are closely connected and rely on each other. Businesses depend on society for things like workers, raw materials, and customers. In return, businesses provide society with goods, services, and jobs. Both need each other to grow and succeed.
Changing Expectations of Business and Society in Nepal
Yes, society’s expectations of businesses in Nepal are changing over time. Here are some of the major changes and new expectations:
1. Demand for Sustainable Practices
In the past, businesses in Nepal focused mainly on profits without much concern for the environment. But now, people expect businesses to be more eco-friendly. This includes reducing pollution, using renewable resources, and supporting sustainability. Nepali society is becoming more aware of environmental issues, and businesses are being pushed to adopt green practices.
2. Fair Treatment of Workers
There has been a shift in how businesses treat their workers. Previously, low wages and poor working conditions were common, but now people expect companies to provide fair wages, good benefits, and safe working environments. Labor rights are more important to Nepali society, and businesses are being asked to meet higher standards for worker welfare.
3. Corporate Social Responsibility (CSR)
Nepali society now expects businesses to give back to the community. People want companies to engage in social issues like education, healthcare, and poverty reduction. Companies are being asked to take responsibility for improving the well-being of the communities they operate in, not just focusing on profit.
4. Support for Local Economy
In the past, many businesses in Nepal relied heavily on imported goods. But now, there is a growing expectation that businesses support the local economy by using local resources, buying from local suppliers, and creating more jobs for Nepali people. Supporting Nepali farmers, artisans, and producers has become a key expectation.
5. Focus on Innovation and Technology
As technology advances, Nepali society is increasingly expecting businesses to keep up with new innovations. People want businesses to provide modern products and services that meet current needs. The rise of e-commerce and digital payments is an example of how businesses in Nepal are expected to embrace technology.
6. Ethical Business Practices
Nepali society is becoming more conscious of ethical issues in business, such as corruption, transparency, and honesty. People now expect businesses to operate with integrity and follow ethical guidelines. Companies that engage in corruption or dishonest practices face backlash from the public.
7. Focus on Customer Satisfaction
In the past, businesses in Nepal might not have paid as much attention to customer service. Today, there is a stronger focus on customer satisfaction. People expect businesses to offer high-quality products and services and to be responsive to customer needs and complaints.
8. Health and Safety Standards
With the COVID-19 pandemic, people’s expectations regarding health and safety have increased. Nepali society now expects businesses to take extra care in protecting their employees and customers by following health guidelines, sanitizing workspaces, and ensuring safe working conditions.
In conclusion, society’s expectations of businesses in Nepal have evolved. People now expect businesses to be more responsible, fair, and ethical, and to contribute positively to society and the environment. Businesses that meet these expectations are likely to build trust and long-term success in the community.