Doing Good Business Essay - 2502 Words

Since the motto â€Å"Doing Well By Doing Good† appeared, the number of businesses that have adopted it has increased over time. In order to tell whether this increase is substantial and significant we must first analyze the steps into which this motto has gone through. The implications it has on the market and economy as a whole will also be determinants of whether to adopt the motto or not. In the essay below we will go through the evolution of the meaning of the motto, the concept of social responsibility, the supporters’ argument and their cons. The debate is divided in two camps. The supporters of the first idea claim that by doing good business, the economy as a whole benefits without the need to donate or contribute in distinct ways†¦show more content†¦Listening to Bill Gates’ speech at the Devon Annual Meeting, World Economic Forum 2008, reminded me of the same situation; this time the social responsibility which was being talked about was wider as a concept than just the idea of convincing my classmates that the placed we lived in could be better. Obviously when it comes to economics and referring to the world as a mechanism that needs to be improved so that even the least fortunate can benefit from it, the mission becomes more difficult as the concept itself of social responsibility evolves. In many economics courses I have taken so far such as: Principles of Macroeconomics, Intermediate Macroeconomics, International Trade, or Money and Banking, profit maximising has always been defined as a business’ main reason of existence. By doing good in the market, shareholders increase their profits and it is their choice whether to invest part of those profits in investing further for the business itself or spend them on other causes. This is also the point where the debate starts. Depending on the different perceptions on social responsibility and based on what a business’ aim is, the way they contribute to the society is seen in the two aspects mentioned above. In â€Å"The Wealth of Nations† Adam Smith would mention â€Å"it is not from the benevolence of the butcher, the brewer, or the baker, that weShow MoreRelatedHow to Start a Child Support Recovery Business13852 Words   |  56 PagesHOW TO START A CHILD SUPPORT PAYMENT RECOVERY BUSINESS From Your Kitchen Table By Phyllis M. Croswell Judgment Specialist HOW TO START A CHILD SUPPORT PAYMENT RECOVERY BUSINESS From Your Kitchen Table Book Four of The Kitchen Table Office Series Copyright February, 2008 By Phyllis M. 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