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 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 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 , 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. [2] 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. 290 words
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