Can profit making be an objective with an ethical dimension?


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Profit Making : An Objective with an Ethical Dimension :

 

In the mid 1950 and 60s different views about business ethics were put forward by philosophers. Unitarian view argues that morality and ethics are related to business. The separatist view expressed that, business should concentrate on profits, and ethics and morality do not form a part of business. The integration view defined a new area called business ethics, where ethical behaviour and business are integrated. The external forces like government, market system, law and services will ethical behavior of the business.

People at the time feared that any ethical conduct or embracing of any moral philosophies would lead to sacrifice of productivity; and the competitiveness of the market place would fade away. Lately, this misconception about the business ethics has changed, as business believe that being ethical and moral would provide them loyal customers. Today, more and more business accepting business ethics as a part of business conduct.

 

The criticism about business ethics is business being economic entity they have nothing to do with ethics or morals. Some experts were of the opinion that the purpose of business is to produce goods and services and maximize profits for the shareholders.

 

Fighting such trends with laws and compliance structures is not enough. If positive results are needed, people need to be given a positive basis for trust and respect and an ethical vision to live by, not merely severe punishment for misdeeds. This will curb the tendency for acquiring profits at any cost. Business has to adapt practices which reconcile profitability with social good. It should be ensured that all reasonably honest ways of making profit are able to serve the public good with no additional ethical imperatives required.

 


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