Ethical Business Practices - Balancing Profit and Responsibility

[Debashis]

How can businesses strike a balance between profit-driven goals and ethical responsibility towards employees, customers, and society as a whole? Share your thoughts on the evolving role of businesses in shaping social and environmental outcomes.

 

[Good-Person]

How can businesses strike a balance between profit-driven goals and ethical responsibility towards employees, customers, and society as a whole? Share your thoughts on the evolving role of businesses in shaping social and environmental outcomes.

There are many ways a business could do that. In fact, there are so many businesses out there that have managed to do that in the first place. As a businessman, you must never engage in any kind of unethical activity and try your best to avoid controversies. Many big businesses often get involved in controversies. This makes them look like unethical businesses.

 

[Ja Sa Bong]

If you haven't identified your business ethics, it's going to be better for you to see to it as soon as possible. It's when you've known and identified the ethics which you want your business to observe that you will know which line not to cross because you wish to make sales and get profit in the business.

 

[Nomad]

When it comes to business, I do not think there is something like ethics and morals. Businesses try to follow written laws. Ethics and morality are not sanctioned by law. They are unwritten beliefs of the society. If you see the big businesses none of these businesses are actually following ethics and morality. They are only profit oriented.

 

[Good-Person]

When it comes to business, I do not think there is something like ethics and morals. Businesses try to follow written laws. Ethics and morality are not sanctioned by law. They are unwritten beliefs of the society. If you see the big businesses none of these businesses are actually following ethics and morality. They are only profit oriented.

Unfortunately, this is true. Many businesses might be involved in many different kinds of unethical practices. Those business practices might not be ethical from public point of view. However, many businesses engage in them as there is no law that directly prohibits them. Regardless of this, if public realises that a company is involved in unethical practices that may be wrong from a customer's perspective, then their businesses may suffer.