Final answer:
The statement is true as businesses today do emphasize giving back to society, alongside their goal to make money. There is a trend towards corporate social responsibility, where firms also focus on contributing positively to society, which includes fair labor practices and charitable work.
Step-by-step explanation:
The statement suggests that modern for-profit enterprises emphasize not only making money but also contributing back to society.
This is a true reflection of a broader trend in the business world. While the primary goal of a business is to earn profits, there is a growing emphasis on corporate social responsibility (CSR), where businesses engage in activities that benefit society, such as sustainable practices, charitable giving, and fair labor policies.
The evolution from cutthroat capitalism to a more balanced approach is in part due to changing consumer expectations, investor pressures, and regulations like those from the Occupational Safety and Health Administration (OSHA) for workplace safety.
Firms may cease to exist if they are unable to maintain profitability, which is the primary indicator of business sustainability. Competition, technological changes, changing market demands, and other external factors can lead to decreased profits and eventual business closure.
However, the shift in business ethos also means that while pursuing profitability, companies are also striving to impact society positively to ensure long-term success.