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自我感觉还行,就是写得太长了--第一次超过六百,严重超时,索性超了7.5分钟把它写完
------题目------
The only responsibility of corporate executives, provided they stay within the law, is to make as much money as possible for their companies.
------正文------ 648 words
Although to maximize profit is one of the most fundamental responsibilities for corporate executives, it would be too narrow to focus on that. For the overemphasis on profit are likely to do harm to our society and breed certain moral hazard for the companies, despite within the law.
I concede that to maximize profit is pivotal both to a firm and executives themselves, for without proper margin, whether the firm can survive or whether the executives can be called like that are still open to doubt. In other words, if executive cannot make money, he or she will not stay in the position for long, all the blueprint, no matter how enticing or cautious about the well-being of our society,will be no more than a utopia.However, considering the potential negative influence--both on the firms and on our society--can be caused by the assertion, Foci would be too narrow, if us to take making maximum money as the only responsibility of executives. Because by doing so, we actually risk the interest in the long run, both on the level of society and firm, as discussed below.
From the social perspectives, by placing too much emphasis on the profit, we risk devolving executives into profiteers, who often violate the bottom-line of our societal morality, despite within the law. Let us take tobacco industry as a telling example, although they are aware of laws that prevent adolescent from smoking and never violate such laws publicly, we see yearly increase in the sale of cigarette, which are definitely attribute to the enticing advertisement and their little attention on the public health. That is, when pursuiting profit, executives might make money immorally within the law, which will do harm to our society.
Even from the prospective of firms, the assertion about maximizing profit as the only goal cannot justify itself under modern firm structures, especially when we take moral hazard into account. Because as professional executives, who might only manage the company for a relative short time, they would prefer certain myopic policy, which serve to create a mint of money in their tenures but pay little attention to the long-run interest of stock-sharers. Concretely speaking, two sorts of negative influence can be exerted on a company.
To begin with, as we know, the more risk we take, the more revenue we may get, that indicates that the frenetic pursuit of profit will bring the company too much risk, which actually serves as a time bomb threatening the firm's healthy development. The hazard is more likely to occur especially when catalyzed by the greed of human nature. One need look no further than financial market to find illustrating evidence, being tempted by great profit, American Insurance Fund involveed so much in the stock market, which are relatively high in risk, as to put itself into the trouble of bankruptcy after the scandal of Enron, which are also a victim result from frenetic pursuit of profit.
In the concern with the long-run development of companies, lies another reason why I take exemption to the speaker's claim. As mentioned above, the professional executives, who are primarily concern with the balance-sheet only in their tour of duty, are likely to pay little attention to the firms' development in the long run. As a result, they may pay little attention to update the equipment of the firms or underrate the importance of investment in research, which will benefit the company in future while accomplish little in or, more often, offset the profit when the executives are in office.
In final analysis, I concede that to be survivals in the competition, executives must take making as much money as possible as one of the most important responsibilities. However, it is presumptuous for the speaker to claim maximizing profit as the only goal of executives, after all, by doing so, we risk encouraging overemphasizing making profit, which is likely to incur negative influence both on our society and firms.
[ Last edited by mkb57288 on 2005-8-18 at 22:54 ] |
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