Major Emphases of Sociological Enquiry in the Realm of Business Economics

Essay from the year 2009 in the subject Sociology - Economy and Industry, grade: B, , language: English, abstract: Sociology and economics have been regarded as two distinct and diverse

subjects in the realm of social sciences. Although both of these subjects are about

understanding the society, sociologists and economists differ in a number of ways on

a number of issues of debate. For example, sociological studies are more dependent

on empirical research and often involve considerable amount of fieldwork and

collection of data. On the other hand, economics is more dependent on theory based

mathematical deductions, although economic implications are extensively examined

in the realm of business and commerce. However, with the lapse of time, it has

become increasingly clear that in order to obtain a holistic view of society, both

sociological and economic information are necessary. Therefore, in the mid 20th

century, several scholars started working on economic issues from strictly

sociological perspective. In this way, economic entities like the household, the firm,

and the government are now being looked into with relation to people and the society

at large. Business organisations are particularly important because they can be though

of as quasi-social structures that do not always strictly behave according as well

established economic formulas, theories, and doctrines. Sociologists are now utilising

a number of academic and research approaches to understand business entities more

comprehensively. In this essay, the most important sociological approaches are

discussed concisely.