why should business seek to balance its economic and socialobligations.
Expert Answer
Goal of a business is to generate profits and increase thereturn on investment for its shareholders. Thus, the primaryobjective of a business is to be profitable and progressive.Thiscan be achieved by minimising the costs of operation, listening toits customers’ concern and ensuring that it earns a good name foritself among them through exceeding their expectations. It alsoneeds to be competitive and always look to create more value forthe customers than its competitors through innovative businesspractices and gathering market intelligence and working on it, soas to gain a greater share
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