Question

We often here about companies doing things like trying to minimize their impact on the environment, or donating to various other social issues and causes. Should a business take into account the well being of society (i.e., social responsibility) when making business decisions? Why or why not? Does it matter to you?

Answer 1

Yes, a business should take the implication their practices have over the environment seriously. It not only allows them the ability to be able to create a more socially responsible outlook, but it also helps them create a better overall process which is appreciated by their consumers. In the eyes of a consumer, a more socially responsible brand would be considered a better brand since they do not overlook the environmental concern over their need to create better profit margins. It also allows a business to utilize safer, more optimized and streamlined processes which allow them the ability to make use of better policies and practices which has a number of implications over the business’ ability to generate better revenue by the means of subtraction.

Yes, I do consider environmental concerns to be an important aspect of consideration for business strategies and the need to align the strategies with the concern of the environment since it has a number of social and economic implications for the business as well.

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