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Good day, people of Hive! Welcome to my blog. Today's topic is "Profits or Ethics." So let's dive in.
When it comes to business, and the business is running, the main goal of the business is to make money, which we call profit. Like I said, when a business is running, meaning when someone starts a business like selling provisions, etc, the more profit the person makes, the more the business will grow. And the more the business owner can pay his or her workers.
But making profit shouldn't be the only focus. Sometimes, a business owner faces decisions, like asking themselves; Should I do what will bring in more money or do what's right? For example, there was a day we wanted to eat eggs and bread, and our regular customer that we always buy from wasn't around. So, my roommate went to buy the eggs from another woman. She bought four eggs. When she got home and cracked two of them, they were already smelling and spoilt. She went back to complain to the woman, but the woman refused to give her new eggs. That got my roommate angry, and she left the woman’s shop. That was the first and last time we ever went to that woman’s shop. Some people doesn't care about there customers feelings because they are only after profits.
Now let’s talk more about ethics. Ethics, simply means knowing and doing what is right, like being honest, kind, and fair. For example, a company that sells fake or expired drugs just to make more money instead of throwing them away. But let’s not forget that such drugs can put people’s lives in danger. That kind of business can lose goood customers.
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So what today’s topic is asking: Should businesses prioritise ethics or profits when running their operations?
For instance, a business may earn a lot, but once the customers find out how the business operates, they may stop patronising them. That alone can spoil or destroy the business name and even shut the business down. On the other hand, if the business only focuses on doing good and ignores profit completely, the business may struggle, and because of that, it may crash down.
So, the only solution is to find balance. We have to balance both profit and ethics together. In doing so, we can do what is right and still make enough profit to survive and grow. By doing this, people will trust and support the business.
Many customers today want to buy products from companies that are honest and trustworthy. That’s why, if customers finds out that the company they’re buying from sells fake items or they're dishonest, they will stop patronising that business.
There are some companies that are successful not just because they sell good products but because they do what’s right. They didn’t only focus on profit, they focused on both, and that helped their business grow. They treated their workers well, including the customers. That’s why you see some workers happy to go to work, because they are treated well. Like what people say, "happy workers make a business grow and attract customers."
In conclusion, balancing both profit and ethics is very important for a business to grow. A business shouldn’t only focus on profit and leave ethics behind. Profit is needed to run the business, while ethics is needed to do what is right and make the business last.
This is my entry for the Hive Learners Featured Content Week 175 Episode 01
Thanks for reading💞💞💞💞💞.