Opinions diverge as to whether the only goal of business is to make profit, thus it is more important for companies to be lucrative than to take responsibility for their effects on the environment and society. From my personal point of view, I totally agree that companies should pay more attention to social issues as well and not just make money their only priority. This essay will attempt to outline the reasons for my views as follow.
To begin with, people are being accustomed to living in a society which emphasizes material wealth over other values due to the fact that money can solve most problems. Therefore, it is understandable that corporations need money to survive in the extremely competitive business world and strengthen their stance on the market. This will not only attract more potential investors but also competent work-holders to ensure business sustainable development in the future. To support, should more companies focus on maximum income, with the rise of GDP, they may elevate the country’s economy, prompting national holistic growth.
On the other hand, empirical evidence has presented a definite correlation between the indifference of industrial companies toward ecological concerns and the deterioration of environmental status. Up till recent days, there are still some factories emit hazardous substances, be it contaminated water, garbage, dust,… into the environment as they want to cut down on the waste treatment costs. These untreated toxins, when being discharged directly into the environment, will pose grave harm upon the lives of nearby species, possibly even harming humans. Take the incident of Formosa in 2016 as a vivid illustration, this steel manufacturing company completely destroyed the marine ecosystem because they discharged a tremendous amount of waste into Vung Ang sea. This action also devastated the local tourism industry and threatened locals’ lives who earn their living through fishing. After that scandalous affair, firms that evince care of nature by limiting pollution and encouraging recycling are favorably appreciated by the society, in other words, being environmentally friendly gives the company higher status compared to others.
Another point to make is that social issues are also in need of consideration when one enterprise aims for long-term success in the future. To be more specific, there is an array of companies around the world that are willing to donate a portion of their annual profits for charitable organizations to provide help for the unfortunates. This is considered a smart way of investing money to enhance the company’s visibility and also convey moral messages to communities at the same time.
In conclusion, I am of a firm opinion that beside making profit, companies should not bury their head in the sand when it comes to environmental and social matters. Its better for them to respect their living surroundings and share the difficulties that exist in the society.