Ethics are the moral
values and guidelines that govern the behavior and consciousness towards the
business environment as a whole. While profit is the revenue gained from a
business activity that exceed the costs and expenses. These two concepts must
go hand in hand while conducting any business. Almost all businesses work with
a profit maximization motive. But this doesn’t mean one can ignore the ethical
standards that they have to keep up with in the organization. Following ethical
standards in the long run of the business will help ensure success for a long
period.
Not all companies earn
their profits ethically, there are companies which choose to maximize profits
unethically. From another point of view it can also be said that it is
unethical to not be profitable. Hence we can conclude that a business has to be
ethical for its own growth in the long run. Being unethical can get some short
term benefits or positive results but does not last for long and can negatively
backfire us. For sustainability and profitability of the business, the
organization must uplift its ethical standards. What remains with a business will
only be their values and ethics. Hence we can conclude that business and ethics
go hand in hand.
RCBS, Rajagiri Centre for
Business Studies is one of the top business schools in Kerala offers
you various PG programs & imparts value-based management education.
RCBS, best B schools in Kerala is
located in the IT hub of Kochi, Kakkanad.