Some people hold a belief that it is essential for most companies to practice some form of corporate social and environmental responsibility because of many benefits. In my opinion, this idea is completely justifiable due to the following reasons.
On the one hand, not only does social responsibility make profit for most companies, but also it is beneficial for the broader society through many actions such as donating to charities, developing environmentally friendly products and reducing waste and energy consumption. Companies which do social responsibility will have an ethical reputation that attracts investors and increasingly motivates customers to buy and use their products. For example, in 2008 Starbuck determined that they had to practice some form of corporate social responsibility and acted through the lens of social consciousness. As a result, the company ranked 3 in Fortune magazine’s 2017 list of World’s Most Admired Companies, and at the same time their stock dramatically increased 1. 2 percent from 2008 to 2015.
On the other hand, environmental responsibility is the way in which organizations can incorporate environmental issues. Although it can take away from profits, it still has many additional benefits. First, the reputation of companies that practice environmental responsibility will be improved, so that it can bring about many lucrative contracts. Second, in those days, a majority of skillful employees tend to make contributions to companies which have a good reputation. Without trustworthiness, companies may fail to compete with their rivals so as to employ someone who is really competent.
In conclusion, I hold the view that social and environmental responsibility are essential to be practiced by many companies.
Some
people
hold a belief that it is essential for most
companies
to practice
some
form of corporate
social
and
environmental
responsibility
because
of
many
benefits. In my opinion, this
idea
is completely justifiable due to the following reasons.
On the one hand, not
only
does
social
responsibility
make
profit for most
companies
,
but
also
it is beneficial for the broader society through
many
actions such as donating to charities, developing
environmentally
friendly products and reducing waste and energy consumption.
Companies
which do
social
responsibility
will have an ethical reputation that attracts investors and
increasingly
motivates customers to
buy
and
use
their products.
For example
, in 2008
Starbuck
determined that they had to practice
some
form of corporate
social
responsibility
and acted through the lens of
social
consciousness.
As a result
, the
company
ranked 3 in Fortune magazine’s 2017 list of World’s Most Admired
Companies
, and at the same time their stock
dramatically
increased 1. 2 percent from 2008 to 2015.
On the other hand
,
environmental
responsibility
is the way in which organizations can incorporate
environmental
issues. Although it can take away from profits, it
still
has
many
additional benefits.
First
, the reputation of
companies
that practice
environmental
responsibility
will be
improved
,
so
that it can bring about
many
lucrative contracts. Second, in those days, a majority of skillful employees tend to
make
contributions to
companies
which have a
good
reputation. Without trustworthiness,
companies
may fail to compete with their rivals
so as to
employ someone who is
really
competent.
In conclusion
, I hold the view that
social
and
environmental
responsibility
are essential to
be practiced
by
many
companies
.