Profitability & Morality
Can profitability and morality coexist? Explain the statement in detail
The largest companies in the nation have evolved over the years to find more ways to streamline operations, reduce waste, increase the productivity of their employees, preached corporate ethics to their employees, try to be involved with local communities by giving to the local youth clubs or donations to a regional cancer research center. But is this to be a good citizen of the community, or is it a show?
There's a view that soaring profits and ethics are mutually exclusive concepts, however, the two can co-exist. The world of business is generally perceived as jungle where the bottom line takes precedence over all other matters. While it is certainly true that profits are the true measure of success, commercial ruthlessness doesn't necessarily lead to unethical practices. There sometimes arises an inevitable conflict in the company between their moral obligations and improving the bottom lines. But ultimately companies following the path of ethical value system succeed in long run as sooner or later consumers learn to separate fact from fiction. Hence in situations such as these referring to morality to help decide what needs to be done should take precedence.
Nowadays Money and Ethics are seen to be diametrically opposed to each other but it turns out money and ethics do have much in common. Any corporation large or small ultimately lives by its reputation. Ethics must sit at the top of the mountain for any successful company that wants the trust of the consumers and investors. There are very few second acts once the public perceives the organization flawed by dishonesty or inferior quality. As is very rightly said by Henry Ford - A business that makes nothing but money is a poor kind of business.
Ethical decision-making gets especially interesting when organizations must reconcile their core values and show a healthy bottom line which end up in conflict with one another. The
The largest companies in the nation have evolved over the years to find more ways to streamline operations, reduce waste, increase the productivity of their employees, preached corporate ethics to their employees, try to be involved with local communities by giving to the local youth clubs or donations to a regional cancer research center. But is this to be a good citizen of the community, or is it a show?
There's a view that soaring profits and ethics are mutually exclusive concepts, however, the two can co-exist. The world of business is generally perceived as jungle where the bottom line takes precedence over all other matters. While it is certainly true that profits are the true measure of success, commercial ruthlessness doesn't necessarily lead to unethical practices. There sometimes arises an inevitable conflict in the company between their moral obligations and improving the bottom lines. But ultimately companies following the path of ethical value system succeed in long run as sooner or later consumers learn to separate fact from fiction. Hence in situations such as these referring to morality to help decide what needs to be done should take precedence.
Nowadays Money and Ethics are seen to be diametrically opposed to each other but it turns out money and ethics do have much in common. Any corporation large or small ultimately lives by its reputation. Ethics must sit at the top of the mountain for any successful company that wants the trust of the consumers and investors. There are very few second acts once the public perceives the organization flawed by dishonesty or inferior quality. As is very rightly said by Henry Ford - A business that makes nothing but money is a poor kind of business.
Ethical decision-making gets especially interesting when organizations must reconcile their core values and show a healthy bottom line which end up in conflict with one another. The