“In the long run, those who do not use power in a way that society considers responsible will tend to lose power.”
“With great power comes great responsibility.”
That is why leaders of large companies, global corporations, and private firms are carrying a huge responsibility at the back of their shoulders. The society is expecting a lot from their power. Thus, these leaders should also take into account and should not avoid their social responsibility, because in doing so, it will lead to the destruction of their power.
The society demands responsible leaders, and if their demands are not being met, they have the capability to reduce this power. That is why in order for a business or corporation to still be on top of their game and retain their power, they should act accordingly and responsibly. Furthermore, businesses should use its power for the betterment of the society, because the society is what keeps the business alive.
A good person or worker is always the one who places a higher value on the welfare of others than on the acquisition of material gain or profit for himself. I believe that in order to make a bigger profit or material gain, a person should prioritize the welfare and safety of its customers, employee, and stakeholders. That is why a business’s number one priority must be its people. When they know and learn how to care for their people, the money will easily come after them. They won’t have to exert so much effort anymore because their actions towards the welfare of others will attract huge profits for them.
Good Corporate Governance and Social Responsibility determines the position and the success of the conduct of the business or the practice of professions. If one firm or professional demonstrates corporate and social responsibility, they will get the utmost respect and admiration from the people of the society. If businesses’ actions are patterned for the betterment of all stakeholders, it means that they pay attention to these important factors that play a huge role in the success of their business. Corporate Governance and Social Responsibility is the battleground of businesses, and only those who give importance to it stays on track.
This great🌹🌹