“Business responsibility” essay
As well as making money, businesses also have social responsibilities. To what extent do you agree
or disagree?
Businesses have always sought
to make a profit, but it is becoming increasingly
common to hear people
talk about the social obligations that companies have. I completely agree with
the idea that businesses
should do more for society than simply make money.
On the one hand, I accept that businesses must make money in order to survive in a competitive world. It
seems logical that the priority of any company should be to cover its running costs, such as employees’
wages and payments for buildings and utilities. On top of these costs, companies also need to invest in
improvements and innovations if they wish to remain successful. If a company is unable to pay its bills or
meet the changing needs
of customers, any concerns about social responsibilities become irrelevant. In
other words, a company can only make a positive contribution to society if it is in good financial health.
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 exploiting 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.
(285 words, band 9)
