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Essay Writing Practice

The essay discusses the growing importance of corporate social responsibility (CSR) among business leaders, government officials, and academics, emphasizing that companies should not only focus on profits for shareholders but also address moral and social responsibilities. It argues that socially responsible practices can enhance a company's brand, attract customers, and ensure long-term profitability, while neglecting these responsibilities can lead to financial difficulties and loss of customer loyalty. Ultimately, the integration of CSR into business strategies is presented as beneficial for businesses, employees, and communities alike.

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2 views2 pages

Essay Writing Practice

The essay discusses the growing importance of corporate social responsibility (CSR) among business leaders, government officials, and academics, emphasizing that companies should not only focus on profits for shareholders but also address moral and social responsibilities. It argues that socially responsible practices can enhance a company's brand, attract customers, and ensure long-term profitability, while neglecting these responsibilities can lead to financial difficulties and loss of customer loyalty. Ultimately, the integration of CSR into business strategies is presented as beneficial for businesses, employees, and communities alike.

Uploaded by

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Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Write an essay of at least 250 words under the following issues.

(40 points) Business leaders,


government officials, and academics are focusing more and more attention on the concept of
“corporate social responsibility” (CSR). The central issue is the appropriate role of business, which
includes legal compliance, and additional moral or social responsibilities. May firms sacrifice
profits to benefit individuals other than their shareholders?

In this day and age, the concept of “corporate social responsibility” (CSR) has been becoming
an important concentration of business leaders, governments, as well as the academics. CSR
represents the idea that the role of companies is not only complying with legal requirements but
also taking actions to address moral and social responsibilities. This perspective raises the
question related to the issue whether firms should only pay attention to making profits to benefit
their shareholders or to taking responsibility for other individuals. This essay attempts to point
out several reasons why it is crucial for companies to pay more attention to social
responsibilities, instead of just making an effort to maximize profits.

Firstly, in fact, being socially responsible is a great way to build a company’s brand and
reputation, attracting potential customers who align with the value generated from social
activities. In other words, there has been an ever-increasing number of consumers who
are willing to put their trust in the company that pays attention to the benefits of other individuals
in terms of healthcare, education and environment, leading to long-term profitability and stable
development of the company. For instance, many people choose Colgate not just because of its
high-quality products but also because of its investment in the improvement of healthcare and
education for the sake of a large number of individuals from all walks of life, facilitating this
company to compete with other counterparts in such a competitive world.

Secondly, when it comes to the survival of a firm, it is undeniable that companies that focus
merely on maximizing their profit without paying any attention to social responsibilities are
unlikely to remain in business. It means that customers now place an importance on the way a
firm engages in ethical practices and prefer to support the companies that demonstrate a
commitment to social responsibilities. For example, Vedan is a good case in point, many
consumers have refused to purchase its products because it has discharged a huge amount of
waste into the Thi Vai river, which has had an adverse impact on people living in this area.
Therefore, if a company fulfills its social duties, they can overcome financial difficulties and
avoid bankruptcy thanks to the loyalty of their customers.

Last but not least, CSR can significantly impact the engagement and retention of employees. To
be more specific, employees today increasingly seek to work for companies that reflect their
concern for the personal value of each staff member and foster the level of employee
satisfaction in the work environment. This would, in turn, lead to superior work performance
among employees. As a result, by applying the CSR concept, a business can enhance its
productivity, paving the way for stable growth in the future.
To sum up, the integration of CSR into business strategies brings a large number of benefits for
not only the business but also the customers, employees and communities including changing
customers’ behaviors, fostering employee engagement and protecting the environment. That’s
why instead of merely focusing on making profits for the sake of their shareholders, firms should
pay more attention to engaging in fulfilling social obligations to bring more benefits for others,
paving the way for their own long-term success.

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