It is argued that businesses should have both profit motive as well as social responsibility. I fully agree with this statement because I think that businesses should be responsible towards society because only due to the society’s involvement businesses become prosperous.
To prop up, I have numerous cogent reasons to support my viewpoint. First and foremost is that customers are the kings of the market. No business can survive without the involvement of the customer. So, it becomes the responsibility of the corporations to provide them good quality products at reasonable prices. Secondly, all the businesses are mainly dependent on the society to drive the raw materials for the production of goods and services. It is considered as good ethics and morals if we return any help to whom who help us. Therefore, businesses should also provide necessary help to the society by contributing in top-notch education facilities and by arranging free medical camps,etc.
Furthermore, if the businesses only think about profit earning, it will have detrimental affects on the society as all businesses become self-centered. They start producing goods at colossal rate to earn huge profits leads to depletion of natural resources and enhancement in pollution. Moreover, fulfillment of social responsibility ultimately raise the profits of the business, as it will create goodwill of business among public and attracts the customers towards their products.
In conclusion, I can emphatically reiterate my agreement with the given statement because business owes almost every necessary material from society, so it is the basic value to give something in return and also giving benefits to the society is beneficial for both businesses as well as for public.