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AS WELL AS MAKING MONEY BUSINESSES ALSO HAVE SOCIAL RESPONSIBILITY

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 Business leaders should have to consider the need to serve the society, while growing their organization and earning valuables. I partially admit to the view that businesses would help in making society more  healthy, but with the interference of business tycoons, things can go haywire also for the human beings.

 It is highly essential for leaders of highly profitable companies to step out from their business and spare some time to serve the human well – being with gratitude. Firstly, people running billion dollar  organizations tempt a mass group of population by selling their services and those taking services from them have the responsibility to take favor in protecting mankind by tycoons because society somewhere needs help from them. For instance, Bill Gates, owner of the  multibillion dollar company, has  been investing nearly millions  to save humans from life threatening illnesses like malaria. Secondly, these are the right persons whom a large group of public admire and follow. If they commence any social work to protect nature, people would start following them.

 Conversely, these money minded humans have mostly used the public for their benefit and if they serve the society, it would have a great impact on the feelings and emotions of locals. Subsequently, without having much knowledge on the functioning  of social tasks, humans and governmental bodies will have to face certain consequences if they indulge in any activity which is not in favor of mankind. However, if done with adequate training and knowledge will lead to wonders. 

 To conclude, although it seems to be highly substantial that more social participation is considerably vital in protecting nature, however, wealthy institutions act responsibly in indulging into social responsibilities. But using it to their advantage would definitely have negative effects.

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Businesses have social responsibilities in addition to making money. While profit generation is a fundamental goal for any business, neglecting social responsibilities can lead to long-term negative consequences for both the company and society. Businesses operate within communities, and their actions can significantly impact various aspects of life, from the environment to social equity.

One key reason for businesses should embrace social responsibilities is the impact of their operations on the environment. Many industries contribute to pollution, resource depletion, and climate change. By adopting sustainable practices, businesses can minimize their ecological footprint and contribute to environmental preservation. For example, companies can invest in renewable energy, reduce waste, and promote recycling initiatives. These actions not only help protect the environment but can also enhance a company’s reputation, leading to customer loyalty and long-term success.

Another reason for businesses to engage in social responsibilities is the well-being of their employees and the wider community. Ethical labor practices, fair wages, and safe working conditions are essential for ensuring employee satisfaction and productivity. Moreover, businesses that invest in their communities, through charitable initiatives, education programs, or supporting local economies, contribute to the overall well-being of society. This, in turn, can foster a positive relationship between the business and the community, leading to increased support and a stronger customer base.

In conclusion, it is essential to acknowledge that businesses must balance their social responsibilities with profitability. Social initiatives should be aligned with the company’s core values and business model to be sustainable. When businesses effectively integrate social responsibility into their operations, they can achieve long-term success while contributing positively to society.

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It has often been argued that multinationals and well-established business houses earning in millions should also shoulder social responsibilities. I completely agree to the above statement as prominent business organisations can do much to emancipate society at various levels.

Corporate Social Responsibility should be an active factor in a company’s decision making. Social responsibility is generally regarded as a duty of an organisation’s management towards the well-being of the society in which it is engaged. These actions have a positive and lasting impact on communities and all stakeholders associated with the organisation. It helps to strike the much needed balance between profits and establishing lasting investment in the community in areas like environment, education, economics as well as other philanthropic causes.

Although not mandatory, it has been observed that most organisations benefit by being socially responsible as  it helps to strengthen their image and brand in public. Consumers prefer to buys items manufactured by companies who are into sustainable production methods and also forward a percentage of their profits to philanthropic causes. Moreover, highly skilled personnel with long experience prefer to be associated with organisations dedicated to addressing pressing environmental, health or educational issues. 

To conclude, in this twenty-first century companies having effective social responsibility ethics who believe in connecting and giving back to the community are likely to thrive. 

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