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

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