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Businesses should take as more social obligations as they do on on making profits

lisalisa Posts: 744 ✭✭✭
Businesses have always sought to make profits, but it is becoming increasingly common to hear people talk about the social obligations that companies should have. I completely agree with the idea that businesses should do more for society than simply make money.

On the one hand, I can accept that businesses must make money in order to survive in a competitive world. It seems logical that the priority of any company should be to cover its running costs, such as employees' wages and payments for buildings and utilities. On top of these costs, companies also need to invest in improvements and innovations if they wish to remain sucessful. If a company can not pay its bills or meet the changing needs of customers, any concerns about social responsibilities become irrelevant. In other words, a company can only make a positive contribution to society if it is in good financial health.

On the other hand, businesses should not be run with sole aim of maximising profit; they have a wider role to play in society. One obligation that owners and managers should have is to treat their employees well, rather than exploting them. For example, they could pay a "living wage" to ensure the workers have a good quality of life. I also like the idea that businesses should use a proportion of their profits to support local charities, environmental projects or education initiatives.

Finally, instead of trying to minimise the tax payments by using accounting loopholes, I believe that company bosses should be happy to contribute to society through the tax system.

In conclusion, I believe that businesses should place as much importance on social responsibilities as they do on their financial objectives.

Comments

  • mheredgemheredge Teacher Here and therePosts: 29,202 mod
    A lot of companies do try to help the local community or in tourism, the environment like by planting trees or other projects. I know that a lot of companies give generously to charities too @lisa.
  • lisalisa Posts: 744 ✭✭✭
    @mheredge It sounds good, they get money from the society and return a proportion of their profits to society, it is a good recycle for both of companies and society.
  • mheredgemheredge Teacher Here and therePosts: 29,202 mod
    I used to mentor a school kid from a very poor area, who could come to see what it might be like to work in a big bank in the City of London @lisa.
  • lisalisa Posts: 744 ✭✭✭
    @mheredge Individuals and companies should try their best to help people in hard situations.
  • mheredgemheredge Teacher Here and therePosts: 29,202 mod
    Good employers do @lisa but now all companies are so philanthropic.
  • lisalisa Posts: 744 ✭✭✭
    @mheredge Charity seems popular amongst big companies, our company is a big one, and the stakeholders donate huge amount of money or objects to the charity communities.
  • lisalisa Posts: 744 ✭✭✭
    @mheredge For Muslims, they have an obligation to donate 1/3 income to charity or poor every year, but I think lots of Muslims do not obey this discpline, because most of them are struggling under the level of poverty.
  • mheredgemheredge Teacher Here and therePosts: 29,202 mod
    Is this in addition to government taxes @lisa?
  • lisalisa Posts: 744 ✭✭✭
    I do not think so, because I think it is one of the disciplines of "Quran" @mheredge. No matter how much money they have, they donate money to bulid the mosques without any hesitations.
  • mheredgemheredge Teacher Here and therePosts: 29,202 mod
    In the old days people were obliged to pay one tenth of their wealth to the church every year (called a tithe) @lisa.
  • lisalisa Posts: 744 ✭✭✭
    Nowadays the rich always do charieties, which equals donations in some levels, I think. @mheredge
  • mheredgemheredge Teacher Here and therePosts: 29,202 mod
    Not everyone @lisa as it is discretionary and some people like to keep all their money to themselves like Scrooge!
  • lisalisa Posts: 744 ✭✭✭
    It seems some richers are reluctant to donate their belongings to poorers in China,too. @mheredge
  • mheredgemheredge Teacher Here and therePosts: 29,202 mod
    They sometimes say that the poorest people are the most generous @lisa.
  • lisalisa Posts: 744 ✭✭✭
    edited January 4
    Yes, that is true. And most of poorers are philanthropic compared with the richers. @mheredge I am always confused that the richers manipulate many resources, own powerness, but they are even reluctant to donate small part of their properties to poor areas and people.With money, there are three meals each day for most of us, without money, there are still three meals per day. Money means nothing in front of life, in my opinion.
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