Publisher's Synopsis
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.
