The relationship between corporate governance and ethical business practices is a hot topic in today’s business world. This topic frequently appears in IELTS Writing Task 2, requiring test-takers to demonstrate their understanding of the subject and their ability to articulate their thoughts effectively.
To help you prepare for this essay type, let’s delve into some potential IELTS Writing Task 2 questions on this theme:
- Some people argue that the main purpose of businesses is to make profits, while others believe that companies should have social responsibilities. Discuss both views and give your opinion.
- The increasing influence of large multinational companies is a worrying trend. To what extent do you agree or disagree?
- Corporate social responsibility should be a legal requirement for all businesses. Do you agree or disagree?
Sample Essay: Analyzing the Role of Corporate Governance in Promoting Ethical Business Practices
Let’s choose the first question as the basis for our sample essay:
Some people argue that the main purpose of businesses is to make profits, while others believe that companies should have social responsibilities. Discuss both views and give your opinion.
Essay Analysis:
This question requires you to discuss two contrasting viewpoints:
- Viewpoint 1: Businesses exist solely to generate profits.
- Viewpoint 2: Businesses have a responsibility to society beyond profit maximization.
You must present a balanced analysis of both perspectives, providing arguments and examples to support each side. Finally, you need to state your own opinion on the matter.
Model Essay:
In the contemporary business landscape, a fervent debate revolves around the fundamental purpose of corporations. While some individuals contend that the primary objective of businesses is to maximize profits, others posit that companies should prioritize social responsibility. This essay will delve into both perspectives before culminating in my personal viewpoint.
Proponents of the profit-driven model argue that businesses are inherently economic entities, existing primarily to generate wealth for their shareholders. They maintain that by focusing on profitability, companies can allocate resources efficiently, stimulate economic growth, and ultimately benefit society through job creation and innovation. For instance, tech giants like Apple and Microsoft, driven by the pursuit of profit, have revolutionized communication and technology, enhancing lives globally.
Conversely, advocates for corporate social responsibility emphasize that businesses, as integral members of society, bear an obligation to contribute to its well-being. They argue that companies should consider the environmental and social impact of their operations, going beyond mere compliance with laws and regulations. A compelling example is the rise of ethical consumerism, with consumers increasingly favoring companies like Patagonia and Ben & Jerry’s, renowned for their commitment to fair trade practices and environmental sustainability.
In my opinion, while profit is undeniably crucial for business sustainability, it should not supersede ethical considerations. Companies wield significant influence and resources, and with that power comes a responsibility to act ethically and contribute positively to society. A holistic approach that balances profit generation with social responsibility is essential for long-term success, fostering a sustainable and equitable future for all stakeholders.
Word Count: 255 words
Important Writing Tips:
- Structure: Use a clear structure, such as the one above, to present your arguments cohesively.
- Vocabulary: Employ a wide range of vocabulary related to business ethics, corporate governance, and social responsibility.
- Grammar: Use complex sentence structures accurately to demonstrate your grammatical range.
- Examples: Support your arguments with relevant and specific examples.
- Opinion: Clearly state your own opinion, ensuring it is well-supported by your preceding arguments.
Key Vocabulary:
- Corporate Governance (noun) /ˈkɔːrpərət ˈɡʌvərnəns/: the system of rules, practices, and processes by which a company is directed and controlled
- Ethical Business Practices (noun phrase) /ˈɛθɪkəl ˈbɪznəs ˈpræktɪsɪz/: business actions that are morally right and fair
- Social Responsibility (noun) /ˈsoʊʃəl rɪˌspɒnsəˈbɪləti/: the duty of a business to contribute to the well-being of society
- Stakeholders (noun) /ˈsteɪkˌhoʊldərz/: people or groups who are affected by a company’s activities
- Sustainable (adjective) /səˈsteɪnəbl/: able to continue over a long period of time without causing harm
Conclusion
Mastering the art of writing about corporate governance and ethical business practices is crucial for IELTS success. By understanding the key concepts, using appropriate vocabulary, and structuring your essay effectively, you can confidently tackle this type of question. Remember to practice regularly, familiarize yourself with current business issues, and seek feedback to improve your writing skills. Good luck!