Purpose Over Profit!
Ethics concern an individual’s moral judgement about right and wrong. The word Ethics is derived from the Greek Word ‘Ethos’ which translates to ‘Character’. It is true that morals and values differs for an individual. In today’s world, there is often a conflict between business and ethics. Ethics are usually bound and nurtured by religion, family values, etc. Such forms cannot work well in business where you are expected to be professional and practical.
When people are pressurized to do things, they tend to ignore ethics. Many unethical things are done in well-known companies, but they never get highlighted, even if they are revealed, for some time company will face troubles in its shares and profits but eventually things get back to normal.
The answer lies between Leadership.
Businesses cannot run effectively in the long run if they are not led by an ethical leader. Being Ethical is not a choice in a business, you cannot choose as to when to be ethical. The everyday decisions in business need to be ethical. With increasing media exposure, businesses have no choice but to ensure that each and every individual working in the company has ethical standards.
I think, there has to be a balance between being ethical and unethical. The intensity of both stances should be at nominal level. Many companies are unethical with respect to environment and safety of its employees though they are running. Because at the end of the day the profit matters the most for them. There’s nothing wrong in making profit but making profit by unethical means could cost a lot of people harm. Being ethical in business creates a sense of responsibility towards society. We all want to make quick money but being ethical takes a toll on you.
Vaishnavi Wagh
PGDM
Batch: 2020-2022
Vivekanand Business School