AS WELL AS MAKING MONEY, BUSINESSES HAVE SOCIAL RESPONSIBILITIES. DO YOU AGREE OR DISAGREE?

The Corporations have earned millions of dollars by providing useful products to the people which makes their lives better every day. It is generally perceived that

in addition

to generating income, companies should contribute towards the society by doing charitable work. I firmly agree with the above idea and

this

essay will explore how an entity can be held accountable to make an additional contribution to people's lives. Society is providing all the resources to an entity which it needs to operate effectively and in returns, it should give back to the community. Manpower, land and infrastructure are made available to the corporations so that they can perform their business activities. while enterprises are paying mandatory taxes to the government, they should

also

contribute towards the underprivileged people of the community.

For instance

, they can open a free school and hospital for the factory labour's families which will provide them with economic empowerment.

Consequently

, they would be loyal to their employer and lead better lives.

In addition

, those businesses, which are doing better on the scale of corporate social responsibility, are generating better and sustainable profits. The economist states that CSR has helped enterprises to win the loyalty of their customers and

hence

, repeated sales mean more income.

For example

, even though Apple Company has outsourced the production of iPhones to China, they still make sure that the standard working hours and appropriate wages are made available to the factory workers.

This

gesture has left a great impression on the Apple customers and they always come back to the same company for new products. To conclude,

although

it is the prime responsibility of a business entity to generate wealth for its shareholders, companies must go extra miles to contribute to the local community. After analyzing the situation, I would recommend that corporations ought to pay back to society and it is beneficial for the long term brand image and profitability of the company