Some people believe that corporations have a responsibility to promote the well-being of the societies and environments in which they operate. Others believe that the only responsibility of corporations, provided they operate within the law, is to make as much money as possible.

Write a response in which you discuss which view more closely aligns with your own position and explain your reasoning for the position you take. In developing and supporting your position, you should address both of the views presented.

My Response

The primary objective of any business organisation is to earn and multiply profits in years of their existence. Daily, we hear news about businesses being acquired by a giant company or a company adds a new product to amplify its business range. The sole motive behind all these is to make as much money as possible. (These help in paying off to stakeholders)
Beyond generating revenues, business organisations also have a responsibility towards their various stakeholders.

One being towards its employees to remunerate on time and to motivate them to thrive new ways in performing various tasks.
Every corporation, also has a responsibilty towards its indirect stakeholders. Viewed as corporate social responsibility (CSR), which promotes a sense of giving back to the society as well as the environment. Businesses depend on environment for raw materials, freely available resources such as air and water, whereas on society for direct and indirect business activities such as buying of a product or service, being loyal to those products, and support in establishing new enterprises or plants. TATA, an Indian established conglomerate, have done commendable activities to payback to the society. A few years ago, it had launched an innovative cell in tier two and three cities of India. The cell was responsible to look out for talents and offer individuals a platform to grow.

When business corporations show responsibility in promoting well being of society and environment, it not only increases their corporate image and brand value but also assists governments and official bodies with funds and increasing public awarenesss in times of critical situations. A food order, delivery and restaurant rating app Zomato, stands true in contributing funds in need of hour of. The corporation, during floods in Kerala in India in 2018 not only assisted Kerala government by raising funds but also provided a platform to common people to make small or generous donations to help the state revive.

Thus, businesses should strive to make money by all legitimate possible means, but, also contribute and promote to the well being of the society and enviroment in which they operate.