Business and Ethics: The ideal combination

After attending my fair share of E-Talks, webinars, etc. by the industry professionals and entrepreneurs, I have concluded that there is a favorite question that the audience likes to ask time and again. If you’ve come this far reading my blog, you already know the question I’m referring to. Yes, you guessed it right! There’s always a question that pits business against ethics. I conjecture that most of them will agree that business and ethics don’t go hand in hand, especially these days, and rightly so because business is a mind game, and emotions have no room in this game. People involved in the business arrive at decisions practically. Maximizing profits and earnings is the primary goal. Values and ethics take a backseat in the business scenario. Well, I have a different opinion because, in recent times, we have had so many examples that state otherwise, for example, the PNB Scam, Kingfisher Scam, etc. Unethical means did bring profits and fame but it is always short-lived. Eventually, everything comes crumbling down. An ethical way of doing business will always be fruitful in the long run. It will build their trustworthiness and gain profits too.

Let’s not pit ethics and business against each other but associate them with each other.

Why Ethics and Business Should Work Together

Ethics in business means being honest and fair to customers, employees, suppliers, and all stakeholders. It means being transparent about products, services, and business practices. Although unethical shortcuts might seem to offer quick gains, they often damage reputation and customer trust in the long run.

On the other hand, ethical business practices build strong relationships and customer loyalty. Happy employees tend to be more productive and loyal too. In today’s market, more consumers and investors prefer companies with strong ethical values. Many top businesses have shown that ethical behavior is not only good for society but also makes sound business sense.

Facing Challenges and Staying Ethical

It’s true that maintaining ethics in business is not always easy. Competition is tough, and companies often face pressure to meet targets quickly. Different cultures and regions may have varied standards of ethics, which can be confusing for global companies.

However, these challenges should not be reasons to ignore ethics. Instead, they highlight the importance of having clear ethical guidelines and strong leadership that values integrity alongside profits. Businesses must build a culture that encourages ethical behavior and holds everyone accountable.

My Experience with Business Ethics at Vivekanand Business School (VBS)

As a student of the Vivekanand PGDM program, I’ve come to appreciate just how important ethics are in building a responsible business leader. At Vivekanand Business School (VBS), the courses don’t just focus on theory or numbers — they really push us to think about doing business the right way.

One of the best parts about studying here is the hands-on learning. We get to work on real business cases where making ethical choices isn’t just a side note, but a key part of solving the problem. The teachers at VBS are very supportive and guide us to reflect on how our decisions can affect people and the wider community.

VBS is well-known as one of the top PGDM colleges in Mumbai, especially because it focuses on value-driven education. The school prepares us not just to survive the corporate world but to do so with honesty and fairness. What I’ve learned here is that chasing profits alone doesn’t lead to lasting success — building trust and ethical practices is what truly helps businesses grow in a meaningful way.

Conclusion

Instead of viewing business and ethics as conflicting forces, we should see them as complementary. When businesses prioritize ethics, they not only protect their reputation but also unlock sustainable growth and lasting success. Learning to integrate ethical practices with business goals is essential for anyone who wants to thrive in today’s competitive and complex market.

Anjali Nair

PGDM Batch 2020-2022

Vivekanand business school