As well as making money, businesses also have social responsibilities. To what extent do you agree or disagree?

Businesses

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have always sought to make a profit, but it is becoming increasingly common to hear people talk about the social obligations that

companies

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have. I completely agree with the idea that

businesses

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should do more for society than simply make money. On the one hand, I accept that

businesses

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must make money in order to survive in a competitive world. It seems logical that the priority of any association should be to cover its running costs,

such

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as employees’ wages and payments for buildings and utilities. On top of these costs,

companies

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also

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need to invest in improvements and innovations if they wish to remain successful. If a firm is unable to pay its bills or meet the changing needs of customers, any concerns about social responsibilities become irrelevant.

In other words

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, a company can only make a positive contribution to the community if it is in good financial health.

On the other hand

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,

companies

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should not be run with the sole aim of maximizing profit; they have a wider role to play in the community. One social obligation that owners and managers have is to treat their employees well, rather than

exploiting

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them.

For example

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, they could pay a “living wage” to ensure that workers have a good quality of life. I

also

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like the idea that

businesses

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could use a proportion of their profits to support local charities, environmental projects or education initiatives.

Finally

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,

instead

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of trying to minimize their tax payments by using accounting loopholes, I believe that company bosses should be happy to contribute to

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the

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public through the tax system. In conclusion, I believe that

companies

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should place as much importance on their social responsibilities as they do on their financial objectives.