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

lisa

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.

mheredge

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.

lisa

@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.

mheredge

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.

lisa

@mheredge Individuals and companies should try their best to help people in hard situations.

mheredge

Good employers do @lisa but now all companies are so philanthropic.

lisa

@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.

lisa

@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.

mheredge

Is this in addition to government taxes @lisa?

lisa

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.

mheredge

In the old days people were obliged to pay one tenth of their wealth to the church every year (called a tithe) @lisa.

lisa

Nowadays the rich always do charieties, which equals donations in some levels, I think. @mheredge

mheredge

Not everyone @lisa as it is discretionary and some people like to keep all their money to themselves like Scrooge!

lisa

It seems some richers are reluctant to donate their belongings to poorers in China,too. @mheredge

mheredge

They sometimes say that the poorest people are the most generous @lisa.

lisa

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.