Introduction to Business Assignment Example | Topics and Well Written Essays - 500 words - 1

Introduction to Business - Assignment sheathIt aims to increase and regulate trade between the countries through minimizing and eliminating tariffs and duties on products and services. (Foundation)European Union is an economic and semipolitical jointure that consists of 27 of European countries. Established in 1993, it aims to establish a single market through a standardized set of laws that all member countries have to adhere to. The laws mainly come low the domain of trade, fisheries, agriculture and regional development.Ethics refers to code of principles and values that direct a persons actions in his personal or business life. It, basically, means knowing the difference between what is right and what is price and then choosing the right authority to do things.Social responsibility refers to an ethical ideology that says that any exclusive or organization has an obligation to the society. Any individual, company, or country should act in a way that inflicts the least amoun t of harm or damage to its environment and must take steps that be beneficial to the society as a whole.The main purpose of any business is to maximize gains and downplay losses. In a non-profit-organization, however, these gains are not monetary. Nonetheless, the sole purpose of the existence of any business is to absorb profits. Therefore, this should be given highest priority.However, it is also the loyals responsibility to abide by the particular differentiates rules and regulations, standard, and moral obligations as well. Failure to do so, in the long run, affects the very purpose of the firm i.e. making profits. Therefore, the firm should not only be focused on making profits and should fit its offerings and procedures to the regulations and other moral obligations even if that translates into some additional costs and compromise on the profits.The creditors all lenders much(prenominal) as banks, shareholders, investors, etc. must be paid back or