IELTS Essay Topic:
As well as making money, businesses also have social responsibilities.
To what extent do you agree or disagree?
It is sometimes argued that businesses have many important responsibilities towards societal issues along with making money. I completely agree with this notion that corporations should be working on tackling socio-economic problems and should not only concentrate on making money.
Corporations have always been inclined towards making money. It is true that the money driven approaches are fundamentally important to gain financial success. If companies or associates do not work hard to increase profitability, they would not be able to compete in the market in terms of providing more and more employment facility to people, and eventually to help eradicate poverty. In addition, without earning enough money, businesses cannot even invest in raising social values.
However, corporations should have a duty to fulfill societal needs instead of solely striving for more and more money. Social responsibilities mean tackling the global challenges. These most pressing issues include climate change, poverty, inequity and resources or water scarcity. Take Unilever, a pharmaceutical multinational company, as an example- this high-profile organization has had a profound record of giving medical or other financial aid to the most deprived people of developing countries. As a result of these holistic and intensive social measures they are becoming increasingly successful in managing and solving poverty and health related problems in respective impoverished neighbourhoods.
To sum up, while successful and profitable businesses are fundamentally important to boost economy by generating revenues through earning more profit, social and environmental issues should also be included into their priority list of core planes.
[Written by – Aisha, UK]