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

Business always attempts to make better profits, but there is a controversial issue surrounding their social responsibilities, nowadays. I totally believe in the idea that they should do more for society than simply make money. I accept that businesses must make money in order to survive in a cut-throat competition world. Making a profit seems logical

due to

covering business running costs like employees’ wages, payment for budlings and utilities. On top of the costs, they should invest in improvements and innovations if they wish to withstand stiff competition and remain successful.

For instance

, Nokia did not invest in modern mobile phones so it went out of business and

then

bankrupt. If businesses are unable to pay their bills or meet the changing needs of markets, they can’t stand in good financial health

also

their profit will be gone what’s more social responsibility will be irrelevant.

On the other hand

, companies should not be run with the sole aim of maximising profit; they have a wider role to play in society. One social obligation that owners and managers have is to treat their employees well, rather than exploit them.

For example

, they could pay a “living wage” to ensure that workers have a good quality of life. I

also

like the idea that businesses could use a proportion of their profits to support local charities, environmental projects or education initiatives.

Finally

,

instead

of trying to minimise their tax payments by using accounting loopholes, I believe that company bosses should be happy to contribute to society through the tax system. In conclusion, I believe that companies should place as much importance on their social responsibilities as they do on their financial objectives.