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, forever, the two can co-exalts.
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 soonest 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 company and its management might get diversified to malpractices. Enron. World, Astray, Xerox and other scandals shook public confidence in ethical value system of organizations. But it must understood very Leary Relativity applies to physics, not ethics (Albert Einstein) Profits and ethics are in reality part of the same equation.
A corporation that wishes to grow and Increase its financial return to its owners must balance ethics and operations. This Is a complex journey especially during tremendous economic pressures. The drive for success in the marketplace and to maximize return of capital can lead a company astray with disastrous results. Successful businesses fail, profitably running businesses suffer from a downfall and some seemingly effective report receive a great fall in their profits and popularity all due to the lack of business ethics.
There are companies that have crossed ethical lines in the pursuit of toy 2 pronto, Ana momentarily gal. EAI Tame Ana Torture out want was teen Ana result” Many companies strive for and achieve ethical behavior. Looking at names like Data group, Ford India, Rockwell Automation, Informs Technologies, Hindustan Milliner, TIC, ONCE it is inferred that Ethics remain being important in business and strong ethical values takes the business a long way. Ethics are important not only in business but in all aspects of life because it is an essential part of the foundation on which civilized society is build.
A business that lacks ethical principles is bound to fail sooner or later. Informs Technologies is among seven international companies chosen to be in the first annual list of “top brands with a conscience” Informs is the only Indian company to be part of this select group. Brought out by the Mending Group, an international collective of brand experts who meet annually, the sit is based on principles of humanity and ethics rather than financial worth.
Companies are evaluated on various parameters ranging from the evidence of ethical programmer and human implications of the brand to the ability of the brand to take risks in line with its beliefs. Informs Technologies recently won two other awards recognizing its financial performance as well as overall management. The Far Eastern Economic Review rated Informs the best company in India for the sixth consecutive year and Asia Money selected Informs as the best managed company in India.
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