ETHICALITY & PROFIT MAXIMIZATION Essay Example | Topics and Well Written Essays - 250 words

ETHICALITY & PROFIT MAXIMIZATION - Essay Example Business enterprises seek to maximize their profits by ensuring that the legal aspects of profit making and ethical practices complement one another. These ethical practices relate to all the stakeholders that influence business operations in one way or another. For instance, a firm that rewards employee performance acts in the interest of both the employees and its own welfare. It is important to note that ethicality in business spreads across the internal and external business environments (Hooker, 2003, p.5). This makes ethicality in profit making a pertinent issue to account for across social and economic business concerns. Disregarding the ethical part of business operations can be fatal to the performance of any given enterprise. To start with, firms highly rely on markets and consumers for their business success. Customers favour firms that act in their interest alongside pursuing their bid to make profits (Ferrell, Fraedrich, & Ferrell, 2012, p.276). Secondly, the same process factors in social corporate responsibility among other concerns. Therefore, ethicality and profit maximization can essentially be complementary as opposed to being ‘enemies’ in the business environment. Ferrell, O. C., Fraedrich, J., & Ferrell, W., 2012. Business Ethics: Ethical Decision Making & Cases, London: Cengage Learning. [Online] Available at: http://books.google.co.ke/books?id=sI1jqoMRW7gC&pg=PA166&dq=business+ethics+and+profit+making&hl=en#v=onepage&q=business%20ethics%20and%20profit%20making&f=false [Accessed November,