Many people contend that corporations primarily work to gain profits and supervising their work is a task to be performed by a third-party. At first blush it seems logical, however, a closer look reveals that corporations should consider well-being of society and environment they work in while also keeping “making profits” as their motive.
With the advancement of age, ambitions of people have largely surged. Time has come when employees have started considering corporations, they work in, as their second home. With such huge expectations it is has become responsibility of corporations to consider the well-being of its employees. Being completely engrossed in making profits and overlooking the condition of employees might prove detrimental for corporations. Slowly and gradually, due to societal problems and other personal concerns, employees might lose their interest in work and find substitute ways of earnings. This will make corporations lose their well-trained work force and hence thwart the very motive of earning more and making profits.
Corporations are not far secluded from the environment they work in. The accumulation of industrial waste might cause environmental hazards which might prove not only for others but also for the corporations by providing them an inimical climate to work in. For example, a polluted environment might not allow families to live in nearby areas of a corporation, hence, depriving the corporations of officials who live in the vicinity.
In order to make profits corporations must also ensure overall economic prosperity of consumers. This is especially true for corporations which target upper and middle class consumers. If a corporation tries to bring people up and increase the overall economic well being of society, they may find that more and more people can afford their goods. This addition of new pool of consumers will generate huge new profits for the corporation. Hence, it is important for corporations to think long term.
Hence, corporations should not fulfil their primary motive of making profits at the expense of society and environment. Taking care of society and environment will, in turn, prove beneficial for corporations.