Companies are responsible only for making money for their investors. Therefore, they should not be held accountable for the environmental and social costs of their business activity to society as a whole. Businesses should do no more than concentrate on making profit. To what extent do you agree or disagree with this opinion?

From a strictly capitalist point of view, companies exist simply to make profits and there are
businesses
that focus on
this
aim regardless of social or environmental consequences. In
this
essay, I will discuss why
such
an approach to business is not only irresponsible but may be self-defeating, in that
firms
who continuously ignore
such
factors may even be harming their profits. First of all, from a business point of view, public awareness of green issues is at an all-time high, and
firms
that are seen as working hard to restrict pollution and encourage recycling are often looked on more favourably by consumers.
Therefore
being environmentally friendly is not only better for the planet, it could
also
give companies an advantage over competitors.
In addition
, in many countries, there are government incentives for companies to lessen their environmental impact.
For example
, the introduction of carbon credits means that
firms
can protect the environment and receive tax credits in return, so clearly, there are
also
economic rewards to being environmentally friendly. Equally,
businesses
that disregard public opinion or engage in socially irresponsible practices do so at great risk. They may find themselves subject to strikes and boycotts of their products, and
firms
that continuously provoke negative social reactions may eventually be barred from trading within certain markets.
On the other hand
, those
businesses
that work hard to maintain public trust are more likely to experience increased sales, leading to more revenue. In summary,
businesses
should not be blinded by profits. They need to remember that they are subject to the will of the public on issues
such
as the environment and their social stance. If they want to succeed, these factors should not be ignored and, properly managed, could even help boost revenues.
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For we to consider an essay structure a great one, it should be looking like this:

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    • Sentence 1 - Background statement
    • Sentence 2 - Detailed background statement
    • Sentence 3 - Thesis
    • Sentence 4 - Outline sentence
  • Paragraph 2 - First supporting paragraph
    • Sentence 1 - Topic sentence
    • Sentence 2 - Example
    • Sentence 3 - Discussion
    • Sentence 4 - Conclusion
  • Paragraph 3 - Second supporting paragraph
    • Sentence 1 - Topic sentence
    • Sentence 2 - Example
    • Sentence 3 - Discussion
    • Sentence 4 - Conclusion
  • Paragraph 4 - Conclusion
    • Sentence 1 - Summary
    • Sentence 2 - Restatement of thesis
    • Sentence 3 - Prediction or recommendation

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Topic Vocabulary:
  • shareholders
  • wider communities
  • long-term detriments
  • ethical practices
  • sustainable practices
  • social welfare programs
  • brand image
  • customer loyalty
  • corporate social responsibility (CSR)
  • sustainable growth
  • government regulations
  • consumer pressure
  • environmental and social accountability
  • business models
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