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

Social responsibilities are

also

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critical in investments apart from making profits. I completely agree with

this

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opinion due to the fact that a

business

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's survival requires the support of the stakeholders. Accruing profits should not be the only goal of any investor. The reason is that there are many stakeholders in any investment and

this

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range from

shareholders

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to employees to local communities hosting the

business

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to

customers

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.

Therefore

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, a

business

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owner has large responsibility of satisfying these stakeholders. Though the primary aim of

shareholders

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is to make gains,

however

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, the hosting land will expect some positive impacts from the

business

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.

For example

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, an oil mining company is expected to contribute to the growth of its local community by achieving less pollution in the environment and

also

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providing some social amenities in order to continue enjoying the support of the local community.

Therefore

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, as an investor is trying to make money to satisfy the

shareholders

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, he

also

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needs to work hard to maintain strong support from the local community.

Furthermore

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, a

business

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owner

also

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has a responsibility to

customers

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.

Customers

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consume the products and their aspirations need to be met.

Customers

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can be grouped into two. There are retailers and final consumers.

For instance

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, farmers in Australia supply to retail outlets for onward selling to final consumers or they sell directly to consumers.

Therefore

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, a

business

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owner must maintain a strong relationship with these groups, by making sure He is supplying quality products at affordable prices.

This

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will make the

business

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sustainable for its

shareholders

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for continuous returns. In conclusion, as much as businesses must make profits, social responsibilities cannot be avoided if a

business

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will survive for a long period of time.

Therefore

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,

business

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owners must prepare for

this

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.