Task2 - Lifestyle >> Corporations & Social Responsibility

"Corporations & Social Responsibility"

Many people are of the opinion that the corporate and business world's responsibilities extend beyond purely making profit. They think that business is also responsible for the community on a social level.

What is your opinion?

The objective of all the businesses in the world today is the generation of profit. Entrepreneurs take risks by borrowing money to establish new enterprises. Their goal is to eventually turn a profit. However, the view from many in the community is that businesses need to have an awareness of the community. Moreover, some people contend that the business world is obliged to contribute or put something back into the societies that they profit from.

When we take a close look at the corporate world today, we see many companies in monopoly positions making massive profits from the community. These companies would argue that they had the courage and foresight to establish the businesses. Consequently, they should enjoy the capital profits that extend from the success of their businesses.

However, these businessmen often fail to recognize one very important point; the businesses that they have established are entirely dependent on community support. A society requires governance, infrastructure and social cooperation to operate effectively. Without these it is impossible for the business world to operate.

With this in mind businesses should contribute to society. This is normally done through taxation and many businesses would contend that their financial contributions through taxes are sufficient. More to this, some members of the community believe that the business world could also contribute by caring for the environment and investing in education and training.