"There is only one responsibility of business, namely to use its resources and engage in activities designed to increase profits." Do you think corporations can balance their profitability, along with ensuring their coexistence with their resource utilization and production responsibility by diverting resources into unproductive social endeavours?
Introduction
Although profitability of business is important for its viability, we focus on it might become unsustainable.
16 words
Main Body
Although profitability of business is important for its viability, we focus on it might become unsustainable.
[Diagram showing three overlapping circles: Profitability, Ethics, Legality, with additional labels for Total].
Is social responsibility of corporate[bad?]
Productivity of corporation a) being a responsible part of the system, it is their duty (both moral & legal) to uphold social welfare.
⇒ Those upheld CSR and ESG principles are usually more profitable b/c—
① It creates good-will which helps in business growth (ex Tata).
② It brings sustainability in operations.
③ It upholds larger public welfare.
④ It creates market and also brings investments to the company. (ex- many investors look for ESG metrics).
⇒ Thus we can say Social responsibility is a way against business responsibility.
Conclusion
Thus we can say Social responsibility is a way against business responsibility.
12 words
Diagram
Three overlapping circles showing Profitability, Ethics, Legality, and Total at intersection
- Challenges Milton Friedman's view
- Provides visual representation of balance
- Identifies key principles for corporate functioning
- Questions premise of question
- Connects CSR to profitability
- Lists practical benefits
- References real corporate example (Tata)
- Shows modern investor focus on ESG
- Strong concluding statement
ANKUR TRIPATHI
Role of Civil Services in a Democracy
Corporate Social Responsibility
Business Ethics and Social Responsibility
173
Total words
11
Paragraphs
analytical and evaluative
Tone