WRITING TASK -2
The role of businesses is not only making money; have some social responsibilities also. To what extent do you agree?
Being the most important entity in the society, business firms should not work solely for profit maximization. I completely assert that they should also seek the welfare of different sections of the society by taking lead in solving the environmental as well as social issues.
Understanding the intrinsic value of nature and its resources, business enterprises need to follow the environmental ethics. It is their responsibility to protect the environmental resources by considering the consequences before starting any new project. Apart from this, firms should ensure that business activities do not cause a statutory nuisance like producing smoke, noise, fumes, accumulating rubbish or light pollution which could have a detrimental effect on public health. For an instance, manufacturing industries can alleviate environmental pollution by developing clear-cut policies before purchasing raw material by ensuring its quality. Furthermore, using scientific techniques of disposal and waste management and to develop the skills of the employees for the purpose of pollution control these firms can contribute to stop environment for polluting further.
Corporate sector, in addition to maximizing shareholder value, must act in a manner that benefits society. These can be in the form of ethical as well as discretionary obligations which refers to voluntary contribution made by a business for the welfare of the society without the intervention of government. Along with taking measures for maintaining environmental harmony these business firms can aid in raising the living standard of society, by developing backward areas and promoting small scale industries which generates employment for people. Their decisions should not merely to maximize profits or shareholders’ value but also to serve and protect the interests of other members of a society such as workers, consumers and the community as a whole.
In conclusion, business enterprises in their attempt to maximize profit recklessly should follow the business ethics by adopting high standards of environment protection and ensuring that they are implemented regardless of enforcement of the laws made by high authorities.
Q: Businessmen use a variety of methods to improve the sales of their products. What are those methods? Which is the most effective method?