SOCIO–ECONOMIC

ASPECT

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 CHAPTER 5
SOCIO – ECONOMIC ASPECT

INTRODUCTION

Socio- Economics is the social science that deals with the studies of how economic activity
affects and shaped by social progress. It is also the study of the behavior of people and the
economy, such as People, Income, and Finances. Financial and social issues always link
together. This is also to examines social and economic factors to better understand how the
combination of both influences.

Business should also focus on how and in what ways it can contribute to the society. The
objective of the study basically to realize socio economic development, usually by improvements
in metrics such as GDP, life expectancy, and levels of employment. In such a way, it evaluates
how the social order maintains the newly procured business in the public to its progression and
losing grounds because of the change of economic condition in the country. The propose
business will bring satisfaction to customers, who are looking for inexpensive chicken wings
with rice and drinks or by bucket for cheaper price. The business is committed to promoting
great meal among people by making quality affordable Wings Diner for all. This will also
produce products made from high quality, fast, delicious, satisfying food, and affordable price.

The proposed business will provide help to the community and our fellowmen. We
recognize that the nature of the business, especially it focuses on quality affordable meal, gives
us a unique opportunity to make a business is committed to promoting great meals among people
by making quality affordable Chicken wings.

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CONTRIBUTION TO THE GOVERNMENT

The business owners and business will pay their tax obligation as provided by the law. Tax
will help the government generate funds for the improvement of public and government projects.

The study show how the government can benefit with the said business by means of
collecting tax. Tax is considered to be the life blood of the government since it is the main
income stream of the government. Through paying taxes which contribute to the national tax and
it is a big step in building a better nation.

COMPETITORS

The competitors play a significant role in a business society. The business can determine if
they serve better quality services than the competitors. The presence of one or more competitors
will threaten each of them. In the case, such competitors will exert effort to provide better
services.

EMPLOYEES

The key participants in running the operation are the employees. They serve as the labor
force of the business together with the owner. In exchange for their services, they will receive
compensation. This will give families their source of income for their living and daily needs.

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CONSUMERS

In business organization, Consumers play a vital role to sustain the business, They helped
the economy grow by continue patronizing the product itself. They are the ones who are liable to
every coin and or bills that are coming inside out in the business. That consumers income will
help keep the economy active.

WASTE DISPOSAL

The proponents are responsible for the disposal of common waste generation on the business
site. The business has two large biodegradable and non-biodegradable trash bins. The waste
disposal will be done by throwing the garbage from operating the business everyday at 6pm
wherein a garbage truck is expected to collect the trash. The plastic bottles will be sold to those
plastic collectors.

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