Nowadays, many businesses solely focus on raising revenue. However, they should also have social responsibility as it benefit both companies and communities.
Initially, taking social responsibilities helps companies attract and retain high-educated employees. More specifically, qualified staffs usually favor companies socially responsible because how they treat the society reflects how they treat their own employees. Consequently, this will be a strong point to recruit employees who see the potential of being appreciated. For instance, Google is famous for sustainability projects and employee welfare programs, which help it attract top global talent who share similar value. Additionally, companies have strong social responsibilities can enhance their public’s image and reputation. Willingly cooperating in social works help companies to build their image, so it will stimulate people sense of empathy. Therefore, companies gain enormous support from the locals. For example, Vingroup has been actively participate in many environmental projects.As a result, Vietnamese acknowledge their dedication towards social problems, which helps building the company images and boosting the overall revenue.
However, people overlook the fact that a business with high revenue will success easier. The world is developing rapidly, if companies don’t work fast in making money, they will most likely to fall behind or even go backrupt. Consequently, devoting their lives into raising the overall revenue will be their ultimate ambition. For instance, in Vietnam during the Covid-19 pandemic, many start-up projects have been closed because they were not financially capable of keep running. As a result, many companies now focus more on making money to avoid bankrupt.
In conclusion, although making money is important to companies, they should also cooperate social responsibilities. Participating in social works bring long-term benefits such as building company images and reputation.