Profits or Ethics: Where Should Businesses Draw the Line?

In today’s fast-paced and competitive world, businesses are constantly faced with tough decisions, none more pressing than the choice between doing what’s right and doing what’s profitable. We have businesses that are doing so well they don't know their customers so they really don't care about their customers because even when they do things to make more profit, their customers will have no choice but to get their product and we have seen other companies that are also big in the industry still going out to take surveys of what their customers want.

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While an ethics-driven approach might earn trust and long-term loyalty from customers and employees, a profit-first mindset often tempts companies into shortcuts that can harm people, the planet, or even the brand itself in the long run. But is it really a case of one or the other? Or can a business achieve both financial success and moral integrity?

We will figure that out soon, but before we continue this amazing topic, I would like to welcome you to my blog. My name is Fashtioluwa.

As a person who is also into business administration, I’ve always believed that how a business makes its money is just as important as how much it makes. No one would want to pick care about how the money is made if they haven't been making any money over the past month but all their customers are feeling satisfied. We see businesses every day chasing after profits, cutting corners, underpaying workers, and ignoring environmental harm all in the name of growth, and nothing bad is happening to the business. The truth is they have always been the customer-oriented type of people but as soon as their business grows and they start making products their customers can do without.

For this business, the question they ask themselves is, "How will the customers discover how we make our profits? The only thing they would care most about is how their workers feel and not the customer.

That doesn't mean that this business won't receive a backlash from its customers, because businesses that ignore ethics might grow fast, but they hardly ever last, but if they survive the difficult stage and retaining their customers, there is nothing that can stop them from succeeding.

Personally, I believe a company should work with good ethics, making sure their customers are happy and love their products; they should forsake the thought of making profits. If they are trying to please their customers, and it's affecting the money the company makes, they will have to forsake that orientation because without profit, the company can't survive.

If ethics will stop a business from doing well, then they would have to forsake ethics in that area and continue to do the good they are doing just to create a balance. There are many industries that are doing well, even when the public knows what they are doing is not ethical. Sometimes they know the public loves the non-ethical part of their business; that is why they do it and make more profit from it.

This is why I agree with, if something of an ethic is stopping a business from making profit, they should do away with it and make their profit, and this is only if the unethical thing is not against human rights and humanity.

So the real question is: can we have both? Can a business be profitable and ethical? I believe the answer is yes, there can always be a balance, but it takes intention. It takes leaders who are willing to think long-term. It takes systems that reward honesty, fairness, and accountability, not just numbers. They need to know that anything that goes against humanity or against human rights should not be allowed into a business. This is what I believe.

Thanks for reading. My name is Fashtioluwa.