Business Should Balance Profit and Ethics

Hello everyone, it's another week for the Hive Learners prompt, it's a rainy day on my end , surely it's gonna be a good one. Let's go in this week's topic....

---

---

---

So when it comes to running a business, there is always this big debate about what always should be prioritized , whether it is profits or ethics! ? And honestly, me I believe the two should just go hand in hand I don’t think one should be abandoned for the other.

Yeah....As a marketing student, one of the first things I was taught in class is that the main aim or goal of any business is the profit, See no matter how we want to drag the matter or turn it around, profit is always the end goal, you know that If a business is not making profit, then something is not right somewhere, see truth is nobody is opening shop just to come and please the world nah....., even if the product or service is helping people, that business still wants to make profit to earn something for their service and that’s just the truth.

Now, of course, we know there are nonprofit organizations, and yes, they do exist not for profits but for causes , But still even those ones still receive donations, grants, funding, and they sometimes even run auctions or merchandise stuff just to stay afloat and keep their mission running, So when you look at it very well, money is still important no matter the kind of setup.

That said, this does not mean that ethics should be thrown out the window? Noo... Absolutely not ,so this is where I strongly believe that there is need for some kind of balance.

You see one thing? , ethics is what keeps a business clean you get,? it is what gives the company a kind of structure and integrity that builds trust among customers, It is also not just about selling and collecting money from customers, it is also about how you treat your customers, how well you handle complaints, how you source your for your materials, how you treat your staff, and all of those things.

Yeah, me I do believe that when a business focuses only on profits and ignores ethics, it might succeed for only a short time, but will eventually, run into issues , maybe legal problems, PR crisis, customer backlash, or even total shutdown , etc.

But when a business puts ethics in place alongside it's profits making , then it can build a long-term reputation that makes the customers very loyal,and loyal customers will always bring consistent profit.

So for me, if I was to run my own business today, I will still chase profit ,because let us be honest here, I do want to make money , but I will also make sure my ethics are very intact, that means I will not scam people, I will not cheat staff or suppliers, and I will try my possible best to treat my customers right

Simple things like telling the truth about your product, apologizing when something goes wrong , or avoiding harmful practices can really make a big difference in how people do view a brand.

Some big companies we know today are doing well not just because of their product but also because people absolutely trust them and that trust was built on ethical behavior ,over time .So yes, profit and ethics should move together, one without the other will either kill the business or destroy its reputation.

This is just my little two cents on this topic, and as someone that is studying marketing, these are the kind of topics that always come up , and honestly, they are real life issues businesses face on a daily basis. And I believe with proper planning and a sense of responsibility, a business can be profitable and ethical at the same time.

_{Image Is Generated With Meta AI}