A business is an organization or enterprising entity engaged in commercial, industrial or professional activities. The main motive of the Business organization is to earn profit as all the activities of business run around profit. Although the main motive is to earn a greater sum of money, business have social responsibilities to fulfill and i agree with the statement.
As an entity, a business is established and carried out in a society using the available resources of the society. On one hand, establishment of business brings the positive impact on the society creating employment opportunities, mobilizing the local resources, improving the level and standard of living. Many business entities exploits the society and bring the negative impact such as sound pollution, air pollution, wastage, exploitation and degradation of natural resources, labor exploitation. so looking at the long term perspective, a business organization should give a good thought about their social responsibility.
business should treat the employees with greater dignity providing them a good working environment and sufficient wages to make their living. In addition to that, business should provide various charity and donations to schools, social organizations and social events that took place in the society. such charity and donations will provide business with tax exemption as well as it creates positive image in the society. So social responsibilities create much of the benefit to the business itself rather than being a burden.
In conclusion, i believe that businesses should focus on their social responsibility along with their main focus of financial objectives and profit.