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Band 6

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

#money #businesses #responsibilities
Profitability has been long considered as a crucial factor that channelize
business
 success.
However
, the increasing awareness and rapidly changing markets have made the companies realize that
besides
 earning money they have to undertake an active and constructive responsibility towards the sustainable development of society. I vehemently espouse that
in addition
 to profits, corporations should expend considerable efforts for the betterment of society at large.
To begin
 with, it is a commonly
acceptable
Suggestion
accepted
 notion that
money-making
the act of making money (and accumulating wealth)
moneymaking
 approaches are essential for ensuring financial viability and success. Without the provision of adequate financial resources, the corporation will not be in a position to meet their day-to-day expenses,
such
 as payment of wages, rents etc.
This
 in turn will create a negative resource loss spiral by hampering their prospects to undertake substantial strategic activities,
such
 as investment of funds for the expansion and growth.
For instance
: In 2012, Kingfisher Airlines were forced to curtail their operations following a massive cash crunch and non-payment of dues to various authorities, which in turn
further
 escalates into revocation of
company licence
Suggestion
the company licence
 to operate in domestic and international markets.
However
, apart from making money, companies
also
 need to bolster their social responsibilities. In the wake of rapid climatic changes,
business
 units should spend a portion of their income for ensuring environmental sustainability by encouraging practices like recycling of industrial waste and
planation
an estate where cash crops are grown on a large scale (especially in tropical areas)
plantation
 of
tress
a tall perennial woody plant having a main trunk and branches forming a distinct elevated crown; includes both gymnosperms and angiosperms
trees
 in the vicinity of factory premises to counter the detrimental effects of their activities on the environment.
Moreover
, they can
also
 disburse their funds to sponsor variable charitable institution in their efforts to help the underprivileged members of the society.
For example
: In 2014, the Indian government has amended its Company Act by making it mandatory for
business
 units with certain turnover and income to spend minimum of 2 % of their past three years average net profits on the welfare activities like poverty, women empowerment, health, gender equality etc. To recapitulate, while prosperous and successful
business
are required
Suggestion
is required
 for boosting the financial strength of a company,
however
 the value of partaking in social welfare should not be ignored.
Submitted by Neetu on

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Include an introduction and conclusion

A conclusion is essential for IELTS writing task 2. It is more important than most people realise. You will be penalised for missing a conclusion in your IELTS essay.

The easiest paragraph to write in an essay is the conclusion paragraph. This is because the paragraph mostly contains information that has already been presented in the essay – it is just the repetition of some information written in the introduction paragraph and supporting paragraphs.

The conclusion paragraph only has 3 sentences:

  • Summary
  • Restatement of thesis
  • Prediction or recommendation

Example:

To summarize, a robotic teacher does not have the necessary disciple to properly give instructions to students and actually works to retard the ability of a student to comprehend new lessons. Therefore, it is clear that the idea of running a classroom completely by a machine cannot be supported. After thorough analysis on this subject, it is predicted that the adverse effects of the debate over technology-driven teaching will always be greater than the positive effects, and because of this, classroom teachers will never be substituted for technology.

Start your conclusion with a linking phrase. Here are some examples:

  • In conclusion
  • To conclude
  • To summarize
  • Finally
  • In a nutshell
  • In general

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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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