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Band 7.5

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

#money #businesses #responsibilities
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The social
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 relation is
also
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 critical in
businesses
Use synonyms
 apart from making revenue. I completely agree with
this
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 opinion due to the fact that networking and maintaining relationship with
customers
Use synonyms
 is vital to the continued success of any
business
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. Establishing any
business
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 requires capital, and irrespective of the starting amount, many
business
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 owners want to make returns.
Therefore
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, creating a network of
customers
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 is crucial.
That is
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, an investor needs to market his
business
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 to potential
customers
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 who will either patronise the
business
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 for direct consumption or those who will retail to final consumers.
For example
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, many farmers in Australia either sell directly to consumers or supply their farm products to store outlets for onward selling to final consumers.
This
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 is a prove of social responsibilities in
business
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. Apart from networking, another factor in
business
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 is maintaining strong relationships with
customers
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.
This
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 factor is crucial in achieving a sustainable
business
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. The primary reason for
this
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 is that, there are competitions in
businesses
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,
therefore
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, those investors who can continue to satisfy the aspirations of their
customers
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 will likely survive in the competitive market.
Otherwise
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, the
business
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 may collapse in the short term if many
customers
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 are lost. The sudden growth of Facebook,
for instance
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, has been due to
customers
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' satisfactory feedback. Despite the popular social media being established late after the likes of Yahoo and many others, Facebook has been a platform to reckon with among its counterparts, with millions of users.
This
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 is another proof of social responsibility in
businesses
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. In conclusion, accruing revenue is not the only interest in
businesses
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. Social responsibilities like networking and maintaining relationships with
customers
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 are
also
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 important if any
business
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 will survive for a very long period of time. These are crucial factors that any
business
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 owner needs to understand.
Submitted by peteromisakin on

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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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