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

#money #businesses #responsibilities
In the eyes of some,
businesses
 are not only economic units generating wealth; rather, they should shoulder social responsibilities. I agree with
this
 opinion as when doing so,
businesses
 are indeed investing in their sustainable development. In the short term, shouldering social responsibilities, say social and environmental ones, could buy
businesses
 opportunities to gain profit in turn. When fulfilling their tax obligations,
businesses
 can improve their financial credit scores.
This
 is because
businesses
 can prove that their tax records are clean, thereby buying them opportunities to approach low-interest loans and raise funds more effectively.
Thus
,
businesses
 can take
this
 advantage of competitiveness over their rivals and gain more profits.
Also
 adopting manufacturing practices that minimize environmental damage is financially beneficial for
businesses
.
Accordingly
,
this
 strategy enables
businesses
 to avoid huge environmental taxes and protects
businesses
 from boycotting campaigns of environmental activists. In the long term,
This
 strategy could bring
businesses
 both sustainable profits and new
customers
. Taking social responsibility, say philanthropic activities, means an investment in expanding the future's market. An explanation for
this
 argument is when helping impoverished people escape ingrained poverty and have a higher standard of living,
businesses
 are creating potential
customers
 in the future, and in turn, selling more products to these new generations of
customers
.
Furthermore
,
this
 strategy helps
businesses
 draw new
customers
. In fact, when taking responsibility,
businesses
 could establish a picture of themselves as economic units not only generating wealth but
also
 willing to accompany society in reaching common goals and solving challenges.
This
 helps build trust and bonds between
businesses
 and the community, and new
customers
 will come later. In conclusion,
although
businesses
 are economic units generating wealth, They should shoulder social responsibilities because
this
 is a sapient investment in their sustainable development.
Submitted by nhuminh031001 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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