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Band 5

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

#money #businesses #responsibilities
The idea that,
besides
 making money, enterprises
also
 need to have public responsibilities remains a source of controversy
.
Accept space
.
 In my opinion, while generating profit is the top priority for each company, I agree 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
.
Accept space
.
 [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. [1] The
first
 reason is that their activities have an effect on the environment. Without controls, production processes may result in serious environmental degradation
,
Accept space
,
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
,
Accept space
,
 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
.
Accept space
.
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. 290 words
Submitted by thaol4417 on

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  • such as
  • namely
  • to illustrate
  • take, for example

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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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