A Business s Only Responsibility - 1013 Words

Appendix 1 B. Argumentation and Academic Essay Writing (CSR Essay) appendix: A business’s only responsibility is to produce profit. To what extent do you agree with this statement? Businesses should take social responsibility in addition to producing profits. Corporate social responsibility refers to a business practices that involves participating and make benefits to society. CSR is a way of companies benefiting themselves so; business should also take social responsibility instead of only taking profit. This is because taking on social responsibility benefits both the society and the companies themselves. CSR refers to a business practice that contributes to the economic development while improving the quality of life of not only the†¦show more content†¦As customers have the choice to choose where to consume, taking social responsibility in the business helps the business to gain confidence and faith from customers because it creates a nice and strong image. Hence, more business opportunities will be manufactured when the business takes social responsibility. Relationship with the customers, suppliers, employees and networks from cooperates may develop and be enhanced. Apart from these, the business will be more profitable. Because if the businesses are socially responsible, it allows the business to attract customers, which means the business will able to earn more. Business taking social responsibility can help the environment. Mainly large corporates can strongly influence the society, they can impact the world by taking social responsibility and guide customers and educate them such as donations. They can inspire other business. It is important for a business to have a good reputation. Taking social responsibility can reduce potential risk reputation suddenly being damaged so it increases the sustainability of the business. This is a worthwhile and easy way to build up a good reputation of the business. It helps for the company to kn ow its supply chain to help them in targeting customers more conveniently. This can also produce a certain and constant amount of customers to guarantee the income of theShow MoreRelatedDo You Agree with Milton Friedman’s (1970) Claim That: â€Å"the Only Responsibility of Business Is to Increase Its Profits†?2888 Words   |  12 PagesDo you agree with Milton Friedman’s (1970) claim that: â€Å"the only responsibility of business is to increase its profits†? Today we live in a world were companies are major actors and influence society on many levels. This is why ethics were brought into the business world. 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