A business's only responsibility is to produce profit. To what Essay

A business's only responsibility is to produce profit. To what extent do you agree with this statement - Essay Example 15). A business should maximize on value rather than profits as explained by Blodget (2012). Involvement in CRS is expensive but it has a high long-term advantage to the business. Providing incentives to employees is not a waste of resources by the management. Considering the workers welfare is important to boost the morale of employees. Employees, if well motivate, perform high-quality tasks that can attract more customers, rewarding to the stakeholders and so make the business sustainable. It may even draw new employees with a high level of skills. On the other hand, failure to consider employees’ welfare results to unique situations that may scare other stakeholders from associating with the business. Besides, it is important for the business to consider environmental obligations as they do production. Environment conservation policies benefit humans. For instance, the regulations aim to reduce pollutants to the environment. Every country or trade region has it set regulations on environmental factors that businesses should consider in its operations. Failure to consider the rules in its operations, the business is likely to face criticism. Further, it may influence smooth functioning of the business and its profitability. An example is the case of Coca-Cola Company’s failure to ensure standards set by the America’s Environment Protection Agency. Early in the 2000’s, failure to consider strict environmental policy threatened the Coca-Cola Company. The company used non-environmental friendly plastic bottles, for a long time the company was on poor terms with the government or the U.S.A. Though it may be expensive for the business to adhere to the regulations, they are very critical for the sustainability of the enterprise and survival of other sectors of the economy. Adhering to the CSR is important to keep a good relationship with the stakeholders and so for the