Please evaluate this issue essay

[Varun95]

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Some people believe that corporations have a responsibility to promote the wellbeing
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 much money as possible.
Write a response in which you discuss which view more closely aligns with your
own position and explain your reasoning for the position you take. In developing
and supporting your position, you should address both of the views presented.

 

Response

The cause to expand businesses, tap untapped markets and exploit natural resources has long been the driving factor that has led to the set-up of industries and corporations near settlements. Though they may seem innocuous at first but these infiltrations in the residential societies and environments have shown more harmful effects then positive. I strongly align with the fact that corporations have a hug role in Corporate social responsibility and capitalising on the profits should not be the only goal that they should achieve.

When companies especially those that deal with harmful chemicals and substances are set up in or around residential localities, they need to keep the disposal of their waste proper. More often than not in a country like India, we see industries not fulfilling their duties and carrying out waste disposal with negligence. Take the example of the river Ganga, one of the most pious rivers for the Hindus which has seen marked with pollution and deteriorating water quality. The primary reason has been industries who let their chemicals run-off in the river waters untreated. Polluting this water makes in unfit for consumption by humans as well as animals that live around the river. Moreover, the aquatic life suffers and the consequences are often far reaching than meets the eye. This is just one instance of environmental damage that takes place due to negligence and ignorance of the companies. History is rampant with stories that show how lust for money has had far reaching consequences much beyond the scope of the industry, one that comes to mind immediately is the case of Japan where mercury from industries had polluted a river and was indirectly ingested by humans through fish living in the river water. This was perhaps the first time that the cry for Corporate social responsibility was underscored.

Deforestation is another problem that has its roots related to industry. The uses of trees and forests are uncountable and though this may not seem much but the forest cover has now been decreasing at a rate faster than ever. The devastating consequences are exacerbated by global warming which again can be linked directly to ignorant industries and corporations that let fumes escape into the surroundings without treatment. These industries are also responsible for widespread diseases that mark many towns in 3rd world countries.

Coming to the benefits that CSR has to promise, it is evident that the environmental conditions would improve drastically but CSR will benefit the companies themselves. When a new company enters a market, it wants to have a good public image, similarly existing corporations want to look good in the eyes of the people. With people becoming more knowledgeable about environmental concerns it is imperative that the companies in order to keep their reputation, carry out activities that benefit the environment and give back to the society. In cities like Bangalore, which is the IT hub of India, most of the big companies organise environmental clean-ups, society interactions or old-age home visits fortnightly. This helps them serve as well as gets them praise from the public.

In the greed for money most the companies, neglect what comes as moral obligation, they seem to forget that it is their duty to give back to the society from which they take so much. Resources as well as Labour comes from the very societies that these companies neglect. The need for CSR is pressing and so is the requirement of policies from the government that make CSR mandatory.