Friday, March 1, 2019

“the Social Responsibility of Business Is to Increase Profit”

Businesses acquire many a(prenominal) responsibilities, the primary role being, to make improvement and then in turn grow and expand as a business in the hope that they increase profits. After all, not many spate want to be in the business of losing money, it is simply the post of a business to make money. However, in saying that, I would take issue in saying that this is entirely a complaisant tariff. Businesses have a responsibility to their stakeholders and/or their shargonholders to increase profits, but genially they atomic number 18 undeniable to do so much more.In terms of social responsibility, in this current day and age, businesses have a responsibility to society. I deal consumers are generally not concerned about the profit businesses makes, they are more concerned about the quality, service and value they receive from dealing with a business, and more importantly whether the success of the business was gained by them pastime socially and ethically responsi ble business practices. In the past, businesses would forfeit their social responsibility at the salute of increase profit.A good type of this is multinational conglomerate, Proctor & Gamble, identified by PETA as a skunk that actively participates in animal testing1 to ensure that their products are safe for people to use. Yes, they are fulfilling their social responsibility in ensuring that their products do not trauma their consumers, but now society and organisations are pointing the finger and actively boycotting companies much(prenominal) as Proctor & Gamble, for ignoring their social responsibility. Businesses have had to turn things around to aline to the views of changing society. Being socially responsible is now a costly exercise.Due to their previous poor business ethics, they have to date invested roughly $250 million in alternative testing methods in an effort to end all forms of animal testing. 2 Not only now is it socially unimaginable to practice bad busin ess ethics, but it is socially unacceptable for businesses that make too much money to ignore the needs of the needy. institutionalize gate, founder of Microsoft together with the efforts of his wife Melinda have established the Bill & Melinda Gates Foundation. The foundation donates millions of dollars every year, aiding many projects with their slogan being all lives have equal value.It is now the duty of businesses and many large corporations to be socially responsible and contribute to society on a larger scale. It is simply incorrect to say that increasing profit is the sole responsibility of a business. It is the social responsibility of a business to be socially responsible, in all facets. Portraying a socially responsible work out is detrimental to increasing profits, this has not always been the case, many companies that were once altruistic entities whos only mission was to profiteer at any cost have realised that with the changes in society, they have had to change the way they leave their business.Sadly, many businesses and corporations participate in socially responsible activities for the purpose of increasing profit, businesses are not changing their packaging to pink to secretly have breast cancer, they do so, so that you and I know about it. These so called acts of social responsibility are a form of advertising and they are done to show consumers just how good they can be. It is not the social responsibility of businesses to increase profit, but it is the social responsibility of companies to be socially responsible to increase profit.

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