In this day and age, some people argue that companies should contribute to their society, other people think they have to consider profits only. While I agree with the notion that businesses can be for making money, I believe that they should also do for the community.
On the one hand, I accept that businesses have always sought to make money in order to survive in a competitive market. It seems logical to put profits as the first priority of any company so as to cover its running costs, such as employees’ wages and payments for facilities and utilities. In addition, companies also ought to consider investments and innovations if they wish to pursue their successful work. If a company cannot pay its bills or meet the needs of customers, any concern about social responsibilities becomes irrelavant. 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 have a wide role to play in society. One social obligation that owners and managers have is to treat their employees well without exploiting them. For example, they could pay a living wage that is reasonable and cover all their normal monthly expenses. Moreover, I also admire the idea of using a proportion of the company’s profit to subsidize local charities, for instance, environmental projects and hospital initiatives. Finally, I believe that company’s bosses should be happy to contribute to society through the tax system instead of trying to minimize it.
In conclusion, I am of the opinion that companies should consider social obligations as well as financial objectives.