Question

Can we do the right thing and still make a profit?

Answer 1

It is always a dilemma for businesses whether to follow the right process and consider all the stakeholders like paying your employees decently, taking care of the environment and not polluting it and yet still keeping the innovation going and creating monetary as well as non-monetary values for the all the stakeholders. This is a slightly difficult thing to do because customer want best quality products at reasonable prices and then for cost cutting you would have to consider reducing the direct cost as well as indirect cost but one thing to note here is that even if you follow all the processes in a diligent and ethical manner, you can still make profit not exorbitant amount of profit in the short term but it creates a strong goodwill for the company and in the long term you can generate good amount of sustainable profit. That is why it is said that businesses should focus on the ethical aspect because in the long term this will benefit you immensely.