Introduction
Business is a form of interaction between people in a community in the quest to exchange goods and services for money or other products. Business is a necessity in society because people have different needs, and they cannot personally produce everything they need. It follows that business is an integral part of the changes that occur in society, and the interactions between different people lead to changes in cultural orientations.
Business interactions change people’s lives in different ways, and the changes are a function of the nature of the business, and the type of people with whom the business people interact. This paper looks into business its effect on people’s lives. Without business, cultural changes, economic liberation, financial security, and national development would not be actualized.
Cultural changes
The business has resulted in cultural changes in the global community. Consumerism behavior has transformed over the years as people continue changing their tastes and preferences. Business involves the interaction of three entities, the customers, the business persons, and their employees. The interaction between the customers and the business people and their employees is subject to some cultural requirements.
People have to assume a specific character as they interact with their customers because the contemporary business setting is governed by the ability of a business to satisfy its consumers. The interaction between employees or business partners is one of the most influential processes in cultural changes. For example, in a culturally diverse working environment, the employees have to develop values that accommodate diversity at work. With time, these values become part of the personality of the people.
The business environment in the postmodern world has seen the acquaintance of different people to different cultural requirements, and this has led to the globalization of different businesses. The business also changes the consumerism behavior of different people. Materialism is one of the consumer behaviors that are trending in the developed nations, where the possession of certain material things leads to satisfaction. Engaging in business gives people a different outlook on the world as they interact with different people.
Business is a learning experience that enables the associated human entities to learn social values from each other. The challenges associated with business also provide learning experiences for entrepreneurs. Business changes people by exposing them to different social environments, where their personalities are subjected to various tests. People develop personalities that can accommodate the people they interact with on a daily basis.
Economic liberation
People get into business to make money. The essence of business is to make profits and attain growth, which results in economic liberation. The richest people in society are business persons who invest in different business industries to make more money. Business leads to economic liberation for people by providing them with money to live comfortable lives. Successful businesses enable people to live luxurious lives. Personal growth through business is attained when the business attains the goals set by an individual.
If a business venture is successful, it gives its owner the satisfaction he or she desires, and this creates a sense of personal fulfillment. Economic liberation in a society is a desirable outcome, whereby people can attain growth in their personal and public lives. For instance, in a country with prospering business industries, the quality of life is enhanced because the authorities can afford infrastructure developments. Economic liberation through business also enables individuals to provide basic needs for their relatives.
Financial security/ increased purchasing power
Business leads to economic liberation for the society and financial security for the individuals involved in the business. In the current state of the world, social classes have developed on the basis of the financial abilities of the people. It follows that there are three social classes, which include the low, middle, and upper classes. The classes are bounded by the purchasing power of the respective individuals. Business is one of the ways that individuals in society can effectively go up the social ladder in society.
As seen through the lens of the eye of the societies in the developed nations, the consumer behaviors of the people in the developed nations are characterized by materialism. Everyone in society desires to be in the upper class of society, which is made up of successful business persons.
This status indicates that a business has an uplifting effect on people in society when it is a successful venture. Failure in business also translates into descending on the social ladder. These changes reveal that a business has the power to place people in different social statuses. Purchasing power is a function of financial stability, and it can be increased through successful business ventures.
National development
National development is one of the effects of success in business. The authorities in different nations compel their people to engage in different business ventures to enable the nation to attain its goals. Business is a tool that enables people to help their governments to meet their national goals. National development is a function of people collectively contributing to the GDP, and business is the primary contributor to national development. It takes the effort of all entrepreneurs in the nation to achieve national development.
The contribution of individuals into national revenue enables the authorities to develop the nation. In the contemporary business setting, investors can contribute to national development by investing in the international market. Foreign investments contribute to a large amount of national revenue for different nations.
Conclusion
Business ventures influence the development of interpersonal relationships between business persons and consumers. The interaction between these parties has led to the development of cultural issues that must be met by the business persons. For a business to be successful in the contemporary setting, the involved business people must adopt the cultural values required by the consumers. This requirement is an indication that business can lead to the development of unique cultural values of people.
Business affects the lives of individuals by enabling them to have higher purchasing power if the ventures are successful. Failed businesses also lead to changes in lifestyles for the people involved. The business enables economic liberation for people in nations because it provides them with financial resources to promote national development. The postmodern society has developed different consumerism behaviors that are influenced by the respective purchasing powers of the individuals.
Successful business persons have the highest purchasing power, and they take the highest rank in the social hierarchy. This nature of the society indicates that a business can either uplift entrepreneurs to higher social statuses or lower them in the social hierarchy if it fails. The cultural, economic, and financial changes influenced by businesses are crucial to personal satisfaction on the part of the business people. Indeed, the business changes the lives of different people.