Topic 1: As well as making money, businesses also have social responsibilities.

To what extent do you agree or disagree?

These days, the more and more enterprises are spending a large amount of money
for their social activities as a way to implement their community obligations while
there still exists business solely place a great weight in making profits. In my
opinion, enterprises should take their social contributions and other involved
parties’ benefits into account paralleled with earning money for their owners.
On one hand, undeniably, profit plays an essential & vital role in ensuring an
organization's existence in this competitive market. Without a positive profit, other
objectives seem unrealistic. Firstly, every month an enterprise has to pay fixed
costs including to housing rent, infrastructures, etc and variable costs such as
employees’ salary, electricity, and other operation payments. Depending on
business’ scale, enterprise has to pay monthly expenditure otherwise it would be
end up with bankruptcy. Secondly, an increasing in the company’s profit is more
likely to promote its employees’ working motivation, as well as maintain the
entrepreneur’s passions and ambitions because they believe their solutions are
proving their effectiveness. This may lead to a growth in creativity, determination
and attempts of all organization’s members. For example, a big bonus taken from
the company profits pushes whole team to devote their ultimate attempts to execute
a challenging project.
On the other hand, together with creating profits from business, companies should
share a part of their outcome for social responsibilities. Firstly, while I agree that
money is so important for a business to exist, social obligations such as spending
for tax, welfares for employees are not only legally compulsory duties but also
expressing grateful attitudes for individuals and community which support &
contribute to the enterprise’s success. Besides, social campaigns such as charities,
community funding or voluntary works can build company’s good images in their
customers, consequently establish their loyalty to company’s products and services
and at the same time attract more people as new customers. Take H&M for
instance, its project “old clothes collections for African people" was one of
significantly successful marketing campaigns in 2021, which rise a great interest
on social media and push their sales in the last quarter of 2021 to 300 percent,
compared to the same period of 2020.
In conclusions, I believe that companies should take a balanced importance on both
social responsibilities and their financial objectives.