/ Promotion of the well-being in societies and environments in which they operate.
Hii friends, I am planning for GRE . I would be thankful if you provide any shortcoming related to a essay and rate it.Some people believe that corporations have a responsibility to promote the well-being of the societies and environments in which they operate. Others believe that the only responsibility of corporations, provided they operate within the law, is to make as much money as possible.
Write a response in which you discuss which view more closely aligns with your own position and explain your reasoning for the position you take. In developing and supporting your position, you should address both of the views presented.
Here we go....
participation in development of society and surrounding
There are copious corporations all over the world, related to various fields. As it operate, should it be responsible for advancement of society in which they are blend? There is always a heated debate about it. The responsibility of corporation towards society and environment is inevitable, as use of resources from the society and environment and role of corporation in shaping society make corporation morally obliged to contribute for society.
Because society is supreme need of corporation, corporation can't ignore them. The corporations such as factories, industries use various resources from the environment like air, water, raw materials and society- manpower, and earn benefits from it. So, corporations are morally obliged to contribute some hand in ascendancy of environment and society. Recognizing such obligation, corporation, from developed countries, first developed corporation social responsibility, widely known as CSR, strategy and policy applied by management of corporation for the advancement of society and environment. CSR, hinged upon each company regulation, looks after the society, in which they are blend in, aids various environmental organizations. Further, due to increases of such consciousness in other parts of world, countries such as China, India, and Pakistan are developing such policy in country company act.
Workers, who are produced by society, are back bone of corporation, so worker deterioration, either mentally or physically, can lead to down fall of it. The corporation has to look after the worker and family members. Moreover, the corporations are also threat to society and environment. Unlike old generation, corporations, nowadays, are big, use much resource, and produce much pollution. Being unconcerned about their effects, corporation can further aggravate the issue. So corporations should be responsible for the society and environment. For instance, TATA steels of India, allocate 2 percent of company profit to check the environmental deterioration, promote health status of society members.
However, some may assert that sole role of corporation it to earn money, but they forget that the corporation earns money from utilization of society and surrounding. If the company acts for profit purpose only, without alleviating various environmental caused by it, then there is a chance of hostility between corporation and society. Such companies are likely to downfall. They are many companies which are closed due to such reason. In the other hands, participating in environmental developmental plan and health plan, corporations are likely to have good reputation. Such reputation is required for sustainability and prosperity of corporation itself.
In conclusion, corporation engagement in development of society and surrounding are not avoidable as it benefits greatly from society and surrounding, possess greater hazard to environment and helps to develop affable relationship. Every corporation, I believe that, should be aware for their participation in development of society and surrounding.