Business plays a vital role by creative and competitive activities that satisfy the needs and wants of people. Business provides not only a standard of living to the individuals but also supports society by providing jobs to the people.
To increase the standard of living, it satisfies all the needs and wants of the society. Business requires resources like finance, manpower, infrastructure to produce goods and society. They provide these goods and services to the ultimate consumers by following a prescribed supply chain.
Thus, businesses also make profit by these economic activities. And also contribute to the shaping of society continuosly.