As well as making money, businesses also have social responsibilities.
To what extent do you agree or disagree?
Businesses have always sought to make a profit,
but it is becoming increasingly common to hear people talk about
the social obligations that companies have.
I completely agree with the idea that
businesses should do more for society than simply make money.
On the one hand, I accept that businesses must make money in order to
survive in a competitive world.
It seems logical that the priority of any company should be to cover its running costs,
such as employees' wages and payments for buildings and utilities. On top of these costs,
companies also need to invest in improvements and innovations
if they wish to remain successful.
If a company is unable to pay its bills or meet the changing needs of customers,
any concerns about social responsibilities become irrelevant.
In other words, a company can only make a positive contribution to society
if it is in good financial health.
On the other hand, companies should not be run with the sole aim of maximizing profit;
they have a wider role to play in society.
One social obligation that owners and managers have is to treat their employees well,
rather than exploit them. For example, they could pay a “living wage" to ensure that
workers have a good quality of life.
It also likes the idea that
businesses could use a proportion of their profits to support local charities,
environmental projects, or education initiatives.
Finally, instead of trying to minimize their tax payments by using accounting loopholes,
I believe that company bosses should
be happy to continue to society through the tax system.
In conclusion, I believe that companies should place
as much importance on their social responsibilities
as they do on their financial objectives.