Many people believe that big businesses in addition to generating profits should be involved in and responsible for the social life of the community. To what extent do you agree or disagree? Give your opinion.

Large organisation should participate in social
welfare
of the people. In the contemporary era, beside earning huge profits, social
welfare
measures go a long way to create a good image of the corporation. I totally agree that big businesses should be asked to be responsible for social well being and take appropriate steps towards the same. I will provide explanations in the ensuing paragraph of
this
essay.
Firstly
, giving back to the people, because of whom the businesses are able to make huge profits is a responsible act. In today's world, businesses are often criticised for their practices which creates many social issues
such
as pollution, exploitation of natural resources, accidents etc. In many cases it has been observed that businesses are making good profits,
however at
Accept comma addition
however, at
the cost of creating nuances in the place they operate
such
as their factories, branches, headquarters etc.
Secondly
, it is important that some part of the business earnings are invested in social
welfare
. There is a new concept of "Corporate Social Responsibility" commonly abbreviated as CSR in many countries. In some countries it is even mandated by the legislation because the government believes that rather than increasing the taxes on business profits and taking onus upon itself, it is better to ask businesses to partake in
welfare
measures
such
as the construction of schools, roads, parks, hospitals etc.
This
brings efficiency in providing infrastructure for the community businesses operate in.
However
, it is
also
noticed that businesses try to work around the loop holes and rather than upholding the spirit of the law.
Hence as
Accept comma addition
Hence, as
explained above, in my opinion large businesses should be asked to take steps to improve social
welfare
of the community they operate in. If required the government should enforce the same through statutory compliances. Thank you.
Submitted by nikhilraja60 on

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