Do businesses have the obligation to give back? – Dailyeconosense

Businesses are entities with their own values and priorities. During this process, they will prioritize benefiting their own group of peopleā€“employees and customersā€”rather than benefiting the entire society.

Money becomes an essential element in the process of operating and sustaining the business. Without them, businesses, in the first place, would not have the capability to operate and even consider giving back to the community. However, during that process of benefiting their own in-group, others, the larger society, can benefit as well.

For instance, Patagonia, a company known for its commitment to environmental sustainability donates 1% of its sales to organizations. This, on the surface, may seem like a benevolent act, giving back to the community. However, in its true essence, their goal may be to strengthen their brand perception positively and in a way that seems as if they are deeply committed to helping the community, ultimately leading to higher sales and benefitting their in-group.

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