As well as making money, business also have the responsibility towards society. do you agree or disagree

It has been argued that businesses should fulfil their duty towards society in addition to generatung profits. In my oppinion, i completely agree as social responsibility can improve customers' perception as a brand and can attract more shareholders.

Firstly, businesses undertaking social responsibility initatives can improve their brand image. To illustrate, an enterprise can earn reputation from giving away a percentage of their profits to provide significant facilities for poor children.This provision, in turn, can be beneficial for company marketing's values. Granted, some might argue that companies have to make money in order for survival in such competitive world. However, part of what makes a functioning business is customers, without them, firms simply would not exist. As a result, such act of charity can help increase customer retention and loyalty wwhich consequently boost their profits.

To add further credence to my assertation, I believe that social responsibility is an effective vehicle to encourage more shareholders to support a business. Since investors' goal is to have greater returns than invested funds, engaging in such social obligation helps companies achieve greater impact, grow to scale and have higher valuations, all of which are elements that investors seek when looking to invest in businesses. Similarly, when a company supports its community and society while remaining transparent in its dealings without compromising on finances, it give confidence to investors. Consequently, these companies can have more money to spend on many more sector, hence yields their incomes.

In conclusion, I fully agree that businesses should feel an obligation towards helping society since it can positively change how thier brand will be perceived and can entice more shareholders to support that business.