Businesses are established to generate the profit and earn high amount of money from their work. However, it is also believed that they should be obligated towards some social responsibility. I completely advocate for the businesses to have some social responsibilities.
It is undeniable fact that, businesses are there to make revenue and generate profit in order for the stakeholders to get financially benefited. Moreover, their main focus should be earning more profit as all of their employees are also dependent on the company for their salary. To explain further, making more money helps the businesses to invest on innovation and research which have the positive impact on company’s growth.
On the other hand, businesses are obligated to fulfill some social responsibilities as their growth is supported by the society. To elaborate more, businesses rely on societies for all the resource they required for their product or services. Also, their product and services are meant to be consumed by the society from which the companies generates revenue. Due to which corporate sector should be morally obligated towards social responsibilities.
To conclude, Businesses are there to earn the money and make profit to remain in the market but their sole purpose should not be just to make profit, rather they should bear some liability towards societies.