Business Is Not only for Profit but for Nation Building

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BUSINESS IS NOT ONLY FOR PROFIT BUT FOR NATION BUILDING

SUBMITTED BY:

ELIZABETH ANNE YTURRALDE-MEDINA

February 26, 2015

SUBMITTED TO:

Professor PETER TUMANDA

MANAGERIAL ACCOUNTING

Ateneo Graduate School of Business

Business is an essential building block to a growth of a nation.  Our economy is developing and currently has a steadfast growth for the past few years.   The influx of investors who bring in money to our country, the building of multinational companies, the rise of the stock market and the growth of the our country relies on businesses to prosper because the success of businesses would attract more investors, and this will be a chance to get more taxes, more employment and more money that will revolve in our market.  Investors will infuse money in different industries and this will affect a lot of businesses.  Businesses also provide employment and empower the working class. We often have small businesses that aim to gain profit that is why they delve and take the plunge to go into business.  Their primary aim of course is to earn a living.  However this cascades into having jobs, more choices for the consumers, more taxes to collect for the government thus empowering our nation.

        Nation building has different foundations that must be present: First is a government which represents political leadership and knowledge, governance helps regulate and build a nation; The second one is our society or our countrymen; and the last is the Business or the economic sector. These three pillars must work together and as much as possible, work together harmoniously to drive the said nation-building process forward to a better one because they serve as the hands and feet of the nation. Business is the cornerstone of prosperity and progress in society: companies create the resources that permit social development and welfare. Companies, through their commercial operations, actively contribute to progress and growth of a society.

        Tourism is an industry that targets income for a specific country because of the amount of business it draws in.  Hotels, Tours, travel agents, restaurants different establishments benefit from a steady flow of tourists.  We all know that our country needs tourists also because of the money that these tourists spend in our country.  Our natural resources, beaches, different geographic highlights are welcomed by tourists also because of the comfort of their stay, the convenience of going to that particular place thus businesses like hotels, restaurants, spas also help attract tourism in the Philippines.  It is a cycle where everyone is happy.

        The pillars to make a nation strong takes work and the foundation needs support and cannot work alone.   It needs each other to complement and fill each other’s needs and relies on the strength of each to gain further growth and progress.  Our government is our leader however a leader would need its followers to take heed.  It cannot act alone, what is the use of having laws and the like if no one will follow it.  Even if our government is the head of our state it still needs backing up, our countrymen can do that.  Our countrymen provide the know-how, labor and skills to let a business grow.   No business can survive without manpower even the smallest and simplest ones need even just one person to work.