Meaning of La ILaha ILLA Allah Its prerequisite and impact on the individual and the society

Meaning of La ILaha ILLA Allah Its prerequisite and impact on the individual and the society
 
 It was reported from the Prophet PBUH that he said, The best supplication is the supplication on the day of Arafah, the best that anyone can say is, Laa Ilaha Illa Allah, Wahadau laa sharika lahu, lahul mulk, wa lahul hamdu, wa huwa ala kulli shayin qadiir.
Meaning, none is worthy to be worshipped except Allah, He has no partners, majesty belongs to Him, praise belongs to Him and he is powerful on all things. (Reported by Tirmidhi)