Describe Two Forces That You Believe Shape The Relationship Between Business And Society?


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The two driving forces behind the relationship between society and businesses are supply and demand. These are two universal concepts that govern what is available based on what is required, and how much it is going to cost a person to acquire.

In economics, the price of a product or a service will vary until supply meets demand, at which point it will balance and remain the same. When supply exceeds demand, manufacturers will lower the cost in order to sell off excess goods before they become obsolete, and when demand exceeds supply, manufacturers will increase prices as their goods become hard-to-acquire commodities. It is in this balance that the relationship forms, as it shows how both sides can have a profound effect on each other, and the meeting of supply and demand is in the interest of both consumer society and businesses.

A number of other factors are also considered to have a strong influence on the society-business relationship. These are:
  1. A growing demand for ethical values
  2. The constant evolution of government rules and laws regarding business
  3. A changing natural environment
  4. The introduction of new technology
  5. The continued globalization of both society and business
  6. The changing expectations of society
These factors are always constantly changing, and therefore so is the relationship between business and society. A good business will keep up with the evolution of these factors, as if it does not keep to consumer demands and expectations, it will perish.

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