Basic principles of economics and business strategy Essay

Basic principles of frugals and business strategy - Essay sheathBasic principles of economics and business strategy argon intrinsically linked to the people and therefore all business and economic decision that is made, must take into consideration of the impact that they ar going to bedevil on the lodge at large. The people are the end users of any business venture and economic theories and economic policies, that are framed, are all designed to work towards the betterment of society. This two way family relationship between the society and the business and economic decisions also form the basis of larger national objectives which are people centric. Main objective of any business is profit making which it derives by making its products and go available to people. Hence, the core business strategy of any business heavily relies on the fact that it products and work meet the needs and requirements of the people at large. Competitive pricing and strong market position are maj or business compulsions that are need driven and specially target the vulnerable segment of society who are more prone to buy their products and services. It is for this reason that businesses through the ages, have been conducting surveys and studies in order to count on the preferences of the people so that one can establish financially viable business ventures. So it would be true if one says that all business decisions are designed to impact society.