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

The notion that the corporations have a responsibility to promote the well-being of the societies and environments has been portrayed for several years but only a few of them have been able to follow them. The responsibility in itself is a fundamental aspect of the corporations and one that they should never ignore. Not only is this responsibility beneficial to their well-being and growth, but also advantageous to the long term survival of the very environment they exist in.

Firstly, it comes without an ounce of doubt that the well being of the society and environment is the moral duty of the corporations. If the corporations are not ethical in their practices toward their environments, how would they even justify their enormous valuations and at what cost would this be achieved? The environment in which we survive has long been protected by our well-being and hence, corporations are equally responsible for their environment friendly practices. Although many corporations have been duped by the entire idea of profit generation and adding more values to their stakeholders, the very essence of acting mindfully is something they have to be reminded of.

Secondly, in the long-term, the society accepts and greets those corporations who have acted responsibly and have followed their moral code in protecting the environment in which they function. The two major benefactors here are: acceptance and goodwill. Both values are undeniably the most crucial factors for the long-term survival of any corporation. Therefore, if the corporations follow ethical practices, pay their employees respectfully and in accordance to the industry averages, organise workshops and conduct CSR activities, it could well survive for decades.

Thirdly, the concept of ‘what you sow is what you reap’ is inevitable in this scenario. Higher retention levels and motivated workforce are the two major aspects that the corporations should consider when they are thinking of acting responsibly and for the well-being of the society. The employees of today often consider the working culture and practices that the corporations follow and this comes with no doubt that the ideal employees are always working at places who do these things rightly.

However, as we picture these notions and concepts, let’s not forget the very purpose of the corporations, which is, to make money! Why would they be interested in acting more responsibly as long as they are in accordance with the law and regulations? How will they be answerable to their shareholders and other stakeholders who might have invested their heart and soul in it? These complex situations and tough questions always come into the framework when any decision regarding these practices are made. Although these are some crucial questions, the corporations should not forget the essence of the impact of their practices on the society.

Having said so, wouldn't survival be a significant aspect of these decisions? After all, to survive is one of the major objectives of any corporation and why would they want to risk it for the sake of the environment and well-being of the society? Also, wouldn’t it be more expensive to adopt these responsible practices? However, while the corporations think about these aspects, it is primal that they carefully choose between what is right and what could help them build a strong brand that could last for decades.

All in all, there are various complexities that the corporations have to ponder about but the fact that they operate in this very own environment makes them completely responsible for their actions and as well as the impact that it has on the society.