Many suggest that businesses should only revolve around financial goals and nothing else. While it is undeniable that making profit is fundamental for a company’s survival and growth, I strongly disagree that companies should only set goals on making profit and I believe that there are other corporate responsibilities that must be considered.
The main reason why I believe that companies do not only function to make profit is because they also have to consider its impact towards the environment. It is evident that the focus on profitability has led to the neglect towards nature. We are rapidly losing species and natural areas due to the need for land for business. Therefore a change must be done to save the environment from further damage. This can be done by reducing ecological footprints as well as by managing production and manufacturing for better energy and natural resources consumption.
Another reason for this is because businesses should also contribute to society. While some are successful and are enjoying their lives, others are living in extreme poverty. Therefore, companies should evaluate their performances in terms of their contribution towards society. For instance, in countries like Indonesia, a law is made to ensure that corporations contribute to society by giving back at least as much as they take once every year. This can be done by funding orphans to go to school and help out victims of natural disasters in their area.
To conclude, I believe that corporations do not only function to make profit and I believe that they must also consider their corporate social responsibilities.