As well as making money businesses have social responsibility. Do you agree or disagree?

In addition

to an organisation’s main aim to maximize profit, they are

also

obliged to carry out corporate social responsibility. Personally, I agree because it reduces their medical cost and

tax

liability.

To begin

, the implementation of a community service program by the business within its environs will reduce the medical cost incurred by staff.

This

is because employees of the organisation will benefit from the charity work done, which will reduce their stress level and improve their health conditions.

For instance

, Exxon Mobil Balyesa revealed that after cleaning the residue of oil spillage from the community river in 2016. It recorded a 70 % reduction in the annual medical expenses.

This

was attributed to the fact that locals benefited from the use of clean water in their daily lives, which improved their general well being. Another point to consider, is that carrying out social duties by a business to its immediate environment will be used to reduce the company's

tax

liability.

In other words

, by performing a charitable project within the accounting year, the organisation can present records of the cost incurred on the project to the government to obtain a levy rebate.

For instance

, Dangote groups of Companies obtained 70%

tax

reduction from Kogi State Government on its taxable profit in 2019 because of the construction of access road to its factory, located at Obajana.

Consequently

, the company had to pay a reduced

tax

amount for that year. In conclusion, along with businesses primary objective of making profit. I agree that, it is necessary for them to perform corporate social duties in other to reduce medical expenses and for reduced

tax

obligation purposes.