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

In the eyes of some,
businesses
are not only economic units; rather, they should shoulder social
responsibilities
. I totally agree with
this
viewpoint 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 profits in return. When fulfilling their tax obligations,
businesses
can improve their financial credit scores.
This
is because they can prove that their tax records are clean, thereby buying
businesses
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
.
This
strategy enables
businesses
to avoid huge environmental taxes and protects them from boycotting campaigns of environmental activists. In the long term,
this
strategy could bring both sustainable profits and new
customers
. When taking social
responsibilities
, 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 public
responsibilities
,
businesses
could establish a picture of themselves as economic units not only generating wealth but
also
accompanying 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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