It has been argued that business companies should prioritize social responsibilities besides money as the main driver of business's success. I completely agree with this viewpoint and I will elaborate reasons in this essay.
On the one hand, there are main reasons why companies emphasize earning as much money as possible. The notable reason is the wealth of the business owner and his family. To this end, covering the running costs, such as employee wages and payments for buildings and utilities are the fundamental aspects of maintaining companies. Without paying these basic costs, businesses might suffer great damage, like going into debt or even going bankrupt. However, besides maintaining good financial health and enriching the business, the consideration of other factors such as moral and environmental responsibilities also play a key role in the business's success.
On the other hand, firms should consider the social prospects as they can affect profitability. As many companies overemphasize making a profit, they can do anything, even take illegal shortcuts. For instance, a company can boost the appeal of its products by adding addictive materials, regardless of the customer's health. This is a noticeable case of failing to set an ethical boundary for business management. Furthermore, the environmental approach is also necessary for protecting companies' rate flow. For example, Toyota Motor, a car manufacturing company, is facing the largest-ever fine of $180 million due to surpassing the specified limit of air pollution. If companies keep ignoring these environmental regulations, they might face another unexpected penalty.
In conclusion, I believe that companies should place as much importance on their social responsibilities as they do on their financial objectives.
On the one hand, there are main reasons why companies emphasize earning as much money as possible. The notable reason is the wealth of the business owner and his family. To this end, covering the running costs, such as employee wages and payments for buildings and utilities are the fundamental aspects of maintaining companies. Without paying these basic costs, businesses might suffer great damage, like going into debt or even going bankrupt. However, besides maintaining good financial health and enriching the business, the consideration of other factors such as moral and environmental responsibilities also play a key role in the business's success.
On the other hand, firms should consider the social prospects as they can affect profitability. As many companies overemphasize making a profit, they can do anything, even take illegal shortcuts. For instance, a company can boost the appeal of its products by adding addictive materials, regardless of the customer's health. This is a noticeable case of failing to set an ethical boundary for business management. Furthermore, the environmental approach is also necessary for protecting companies' rate flow. For example, Toyota Motor, a car manufacturing company, is facing the largest-ever fine of $180 million due to surpassing the specified limit of air pollution. If companies keep ignoring these environmental regulations, they might face another unexpected penalty.
In conclusion, I believe that companies should place as much importance on their social responsibilities as they do on their financial objectives.
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