James, a final year business student in your school, argues that a company's responsibility to society, and its responsibility to remain profitable, are mutually exclusive. Is this statement true or false?

Question

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This statement is false. A company's responsibility to society and its responsibility to remain profitable are not mutually exclusive. In fact, many companies have thrived by incorporating socially responsible practices and initiatives into their business models. Companies that prioritize social responsibility can also increase their brand reputation, customer loyalty, and employee satisfaction, ultimately leading to long-term profitability.

James, a Final Year Business Student in Your School, Argues