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

The idea that,
besides
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making money, enterprises
also
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need to have public responsibilities remains a source of controversy
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.
In my opinion, while generating profit is the top priority for each company, I agree that they should
also
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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
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.
[1]
Firstly
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, the higher the profits earned by enterprises, the more taxes they pay to the government.
As a result
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, 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
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, by earning huge
profits
Suggestion
profit
companies have the opportunity to grow their business.
For example
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, firms could use their capital to expand their production, creating new job opportunities within the community.
On the other hand
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, there are strong reasons why businesses should
also
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accept that they have social responsibilities. [1] The
first
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reason is that their activities have an effect on the environment. Without controls, production processes may result in serious environmental degradation
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,
such
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as global warming stemming from factory emissions or the irresponsible disposal of industrial waste.
For example
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, if factories installed waste treatment systems
instead
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of discharging chemical wastes into rivers
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,
water pollution could be controlled. [2] Another reason is that enterprises should help those who are less fortunate, since they have the money to do so
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For example
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, big corporations
such
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as Unilever and Vinamilk have enhanced their public image through philanthropic actions
such
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as providing scholarships and giving charitable donations. In conclusion,
although
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I recognise that making profits is the fundamental principle of business, I would argue that all businesses should profoundly reflect upon their social responsibilities. 290 words

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Topic Vocabulary:
  • Social responsibilities
  • Corporate social responsibility
  • Ethical behavior
  • Societal impact
  • Stakeholders
  • Profit-driven
  • Public perception
  • Environmental sustainability
  • Community development
  • Human rights
  • Workplace safety
  • Altruism
  • Balanced approach
  • Accountability
  • Consumer loyalty
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