Market Boon through Responsible Business Enterprise

Market Boon through Responsible Business Enterprise

The aftermath of World War II presented the transition of most countries from government-controlled to market economy. Private individuals began to own business enterprises leading to the establishment of a competitive market. The business that pleases the consumers most ends up being the most successful. Those businesses that are lagging behind, on the other hand, will search for marketing tactics to seize market leadership.

Nevertheless, the business landscape continues to evolve as time passes by. Now, business growth is not only measured based on the revenues and profits that a company acquires, but also on the progress of other stakeholders. Aside from the customers and consumers who serve as the apple of the eye of all business enterprises, modern businesses already consider the improved performance of other primary stakeholders, namely, the employees, investors, suppliers, and the owners and managers. Revenue and profit serve as the company's means for self-financed growth, but the development of the entire machinery is dependent upon improving the business performance of the other key players.

Technically, this concept in modern business landscape is called Responsible Business Enterprise (RBE). RBE promotes social responsibility and business ethics among owners and managers alike. Socially responsible business enterprises generate revenue as a result of meeting their consumers' standards of satisfaction, and circulate the monetary gain to and through the entire business machinery to secure it against possible economic risks in the future.

An ottawa law firm specializing in corporate law solves business disputes based on the concept of RBE. As long as the employee's rights are upheld, notwithstanding the business's goals and objectives, a company is spared from labor law violations. Nevertheless, employees are also expected to follow the regulations set upon by the owners for consistent business operations.

RBE promotes sustainability of workforce and healthy market competition. Because the welfare of employees is of paramount importance, business owners provide reasonable compensation brackets and family and livelihood benefits to its workers. Consequently, these motivate the employees to improve their work performance. An ottawa law firm, however, can make sure that these benefits are delivered as promised in case an irresponsible business reneges on its legal and contractual obligations.

Unlike irresponsible businesses, however, responsible business enterprises create good market competition. Every company strives to attain comparative advantage in order to attract consumers to purchase their product and service in the market. An ottawa law firm also adheres to the concept of RBE in to provide the best service to its clients.

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