Business is an Instrument of Change – Discussion

Business is an Instrument of Change – Discussion

Business is an instrument of change

Because we live in a capitalistic social system, we have grown used to change. We expect the economic system under which we live to provide a rising standard of living and the fundamental impulse that sets and keeps the capitalistic engine in motion comes from the new customer’s goods-

(a) Business is an Agent: Business has always been an agent of social change. As an agent of consumers, business has the responsibility of producing a never-ending flow of new and different goods and services, thereby contributing to increased customer well-being. Nowadays, business thinks in terms of all the things that go toward improving the quality of life.

(b) Responsibility for Innovation: Innovation responsibilities go much further than just product research. These responsibilities today extend to broader questions of what society considers being the quality of life and which products 7 services support that quality of life. Examples of product innovation which have satisfactorily met consumer needs are numberless. In order to better exercise innovative responsibility, businessmen have learned to encourage and develop upward communications from consumers.

Base on customer relationship perspective today, terms and organizations face rapid change like never before. Globalization has increased the marks and opportunities for more growth and revenue. However, increasingly diverse markets have a wide variety of needs and expectations that must be understood if they are to become strong customers and collaborators. Concurrently, scrutiny of stakeholders has increased as some executives have been convicted of illegal actions in their companies, and the compensation of executives seems to be increasing while wages of others seems to be decreasing or leveling off. Thus, the ability to manage change, while continuing to meet the needs of stakeholders, is a very important skill required by leaders and managers.