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The Business of Business Is Business Through Social Integration

The Business of Business Is Business Through Social Integration

Purna Prabhakar Nandamuri, Mukesh Kumar Mishra, Vijayudu Gnanamkonda
Copyright: © 2022 |Pages: 28
ISBN13: 9781668455906|ISBN10: 1668455900|EISBN13: 9781668455913
DOI: 10.4018/978-1-6684-5590-6.ch092
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MLA

Nandamuri, Purna Prabhakar, et al. "The Business of Business Is Business Through Social Integration." Research Anthology on Developing Socially Responsible Businesses, edited by Information Resources Management Association, IGI Global, 2022, pp. 1882-1909. https://doi.org/10.4018/978-1-6684-5590-6.ch092

APA

Nandamuri, P. P., Mishra, M. K., & Gnanamkonda, V. (2022). The Business of Business Is Business Through Social Integration. In I. Management Association (Ed.), Research Anthology on Developing Socially Responsible Businesses (pp. 1882-1909). IGI Global. https://doi.org/10.4018/978-1-6684-5590-6.ch092

Chicago

Nandamuri, Purna Prabhakar, Mukesh Kumar Mishra, and Vijayudu Gnanamkonda. "The Business of Business Is Business Through Social Integration." In Research Anthology on Developing Socially Responsible Businesses, edited by Information Resources Management Association, 1882-1909. Hershey, PA: IGI Global, 2022. https://doi.org/10.4018/978-1-6684-5590-6.ch092

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Abstract

The business of business during the twentieth century was considered to be only earning and delivering profits to the shareholders. But, the twenty-first century challenges this approach and offers a different business environment characterized by fast digitization, faster disruptive innovations, and fastest shifting consumer expectations. The business community has to awake to the reality and find ways to create sustainability to their businesses by leveraging the networks, capital, people, and technology to create a win-win situation with the social environment. In this process, the scope of corporate social responsibility has become narrow and the trust on corporates in the society has been declining. Hence businesses need to go beyond by defining a social mission to integrate deeply with society and create trust. The economic view of the business is transforming into a wider social view, forcing businesses towards social integration to create shared value.

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