Some people believe that corporations have a responsibility to promote the well being of the societies and environments in which they operate Others believe that the only responsibility of corporations provided they operate within the law is to make as mu

A certain fraction of people suggest that the corporations need to take up a responsibility for the welfare of the society. While other believe that if the rules are not broken, the corporations should strive towards making maximum monetary profit only. While in some cases, the latter claim is more pragmatic than the former, I disagree with the belief of the fraction of people claiming the latter opinion as corporate growth can be achieved through largess.

Some people might believe that in the age of capitalization, the sole motive of any company is to make as much money as possible. In this way, not only the shareholders but the others implicitly or explicitly involved with the company prosper. This is because as the company grows, all the people associated with it also gain advantages and new employment opportunities burgeon. Along with that, the economy of a nation grows as well due to the tax revenue accumulated from the corporation by the government. And so, the overall development of the society takes place. While this claim seems reasonable, there is no viable justification for the corporations to malinger from the responsibility to contribute towards the betterment of the society.

It is no secret that the company's fortune is finessed by the collective work of their employees. If the employees work assiduously for the company, it is no doubt that it would certainly prove to be beneficial to them. Hence, the big corporations tend to lure the fresh employees towards their company by providing ameliorated working conditions and lavish amenities as rewards. Now, if the societal conditions of the region of operation of the company is not good then it would certainly harm the fortune of it. A society in bad condition would certainly not produce fully capable employees which would certainly harm them. Hence, certain efforts like promoting education, making it easy for the students to get matriculated, scholarship programs etc. This would indirectly help the company itself as they would have a potpourri of skilled freshers to recruit from because of the efforts they made.

Along with that, the certain governments have mandated the corporations to publicly publish a Corporate Social Responsibility (CSR) report. This report consists of all the virtuous deeds done by the company towards the betterment of the society during the previous fiscal year. This report helps the companies in two ways, one is that a caricature of magnanimity is embedded within the minds of the public and another being that the incentivization availed from the government. All these points lead the corporations to pursue activities promoting the amelioration of the society.

In all, summing up all the points stated above, the corporations should refrain from malinger towards the social responsibilities. Even though the monetary benefits incurred by the company help the society as well, one should not completely rely on making monetary benefits only. Preforming deeds of welfare for the society helps the company itself as they would have better and adroit employees to hire. Alongside that, an impression of bona fide would be engraved in the minds of the people along with incentives from the government. In this way, focusing on the societal responsibilities helps the flourishment of the company itself. Whether it be done with the essence of philanthropy or for expedite reasons, such steps certainly help the companies to grow.