CHAPTER 6 The Socio Economic Aspect

The Socio-Economic aspect of the business plays an important role in the sustainable development of the society wherein it finds path towards a positive social and economic evolution. It contains how the business will generate employment, how it can raise revenues for the government, and how it can improve the productivity, the community, and the environment.

Objectives the Socio-Economic Aspect In order to sustain development in the society and economy, this chapter aims the following: 1. To identify the responsibilities to be performed by the firm to the environment. 2. To identify the ways in which the firm can be useful to the chosen community. 3. To know the contributions of the firm to the community. 4. To know benefit of the government from the firm. 5. To identify the contributions of the firm to the economic status of the Philippines.

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Social Implications The ultimate goal of every business is to maximize profit. Aside from that, the proposed business also aims to help and give contribution for the welfare and development of the society and community where it will operate. This is the reason that the proponents believe that every business should also give consideration to its social responsibility, for it is one way of measuring the success of the business. Tons of plastic were produced every year and it causes extreme damage to the environment. Usage of the proposed product, which is the biodegradable shopping bag made from corn kernels, will prevent the environment problems like, the clogging of canals, floods and burning of plastics that may cause damage of ozone layer and air pollution. The firm will be useful to the chosen community by helping preserve and protect the town of Baliuag. This will happen by offering a shopping bag that is biodegradable, durable, safe to use, affordable and environment-friendly. The community will be a pioneer in the place to be non-biodegradable plastic free. It will help lessen and eventually wipe out all the plastic wastes that cause dumping and clogging. Economic Implications The proposed business is the first local supplier of the biodegradable shopping bags made from corn kernels in the Philippines. Some local manufacturers might think of producing the same product because businesses are starting to be aware on how to help protect the

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environment building good image for their company. Competition in biodegradable shopping bags from corn kernels will gradually increase as the business operates. The payment of taxes from the revenue of the enterprise will also contribute to the budget of the national government which can be used for the countrys development. It will also give employment and it may also help the farmers for the production of corn and will make Baliuag, Bulacan. The use of corn kernels for production of biodegradable shopping bags may attract not only the people of the Philippines but people outside the country making it famous on this field that will help the country boost its economy particularly in tourism, trade and industry and so on.