As well as making money, businesses also have social responsibilities. Do you agree or disagree?

The idea that,

besides

making money, enterprises

also

need to have public responsibilities remains a source of controversy. In my opinion, while generating profit is the top priority for each company, I agree

thatthey

Suggestion

that they

should

also

conduct their business in a socially responsible manner. On the one hand, the efforts of companies to maximise their profits may have some benefits for society as a whole. [1]

Firstly

, the higher the profits earned by enterprises, the more taxes they pay to the government.

As a result

, authorities may have more revenue to spend in key fields, including education and health care, which leads to an improvement in the quality of life of the whole community. [2]

Secondly

, by earning huge

profits

Suggestion

profit

companies have the opportunity to grow their business.

For example

, firms could use their capital to expand their production, creating new job opportunities within the community.

On the other hand

, there are strong reasons why businesses should

also

accept that they have social responsibilities. The

first

reason is that their activities have an effect on the environment. Without controls, production processes may result in serious environmental degradation,

such

as global warming stemming from factory emissions or the irresponsible disposal of industrial waste.

For example

, if factories installed waste treatment systems

instead

of discharging chemical wastes into rivers, water pollution could be controlled. Another reason is that enterprises should help those who are less fortunate, since they have the money to do so.

For example

, big corporations

such

as Unilever and Vinamilk have enhanced their public image through philanthropic actions

such

as providing scholarships and giving charitable donations. In conclusion,

although

I recognise that making profits is the fundamental principle of business, I would argue that all businesses should profoundly reflect upon their social responsibilities.