In today’s world, it is becoming common to hear that businesses also have social obligation beyond making money. While they should prioritize making profits, in my opinion they also need to actively engage in improving society for several reasons.
On the one hand. Profitability is obviously crucial for business survive and growth. Firstly, by focusing solely on making money, a company can invest in product improvement, securing a strong position in the market. Secondly, giving raise to employees may become so much easier while increasing their work hours and responsibilities at work with no complaints. Another reason for prioritizing profit beyond everything is that it could grow the potential of expanding business further.
On the other hand, businesses should consider making some positive contributions to society for a handful of logical reasons. One of the best ways to help society and themselves at the same time is to approach CSR (Corporate Social Responsibility) initiatives, such as Philanthropy, environmental sustainability efforts, and ethical business practices. In other words, businesses demonstrate their commitment to ethical values,environmental stewardship, and community development. Meanwhile, The positive impact of CSR initiatives on customer perception should not be overlooked, as they create a favorable first impression and attract more people
In conclusion, while businesses have a primary objective of making money, they should also consider social responsibilities to fulfill which provides better life quality for residents while increasing their customer rate.