Are ethical companies more profitable?
[2023-09-11 11:46:56]
Ethical enterprises are mission-oriented enterprises that are consistent and exist for all the benefits, including the set theory of economics. Therefore, their actions improve economic efficiency, thereby increasing the value of money, protecting the wealth of the family, thereby giving value to the currency, enhancing the purchasing power of the citizen, and also focusing on the low inflation of the economy You can do.
This situation keeps wages normal, and the company helps keep the effective balance of the economy, so we do not frequently upward wages. Hence, in the long run, their efforts have been successful, with strong and stable currencies, effective markets, economic equilibrium and stability, better welfare, lower risk of market failures, and satisfaction and healthy Brought by consumers. I will protect their wealth. Concern over rising in-house products and production costs is increasing
Moreover, thanks to their support, the increase in the wealth of the people helps the government improve the resources to improve the economy, it reduces the risk of the existence of citizens, helps their own employees, It will protect the cost. This can also serve as standard feedback for the mission of reducing production and operating costs.
Regardless of any decision, if it is transparent, consistent and scientific fixation is in line with the first principle, then it will produce a positive result for their efforts I guess. Other types of incoherent workforce in an inefficient economy
As everyone knows, the answer to the question is positive. If I do not elaborate (I will do below), there are many reasons for the benefits of ethical enterprises - employees are more productive, employees are less likely to leave the company, consumers are ethical We will respond positively to companies that are considered to be. Companies and suppliers are more aggressively dealing with ethical companies and ethical companies are attracting better executives and employees. All these elements will help to reach the final conclusion - ethical companies are more informative
Companies are increasingly recognizing the need to comply with business ethics and measure success through profitability. This led to the introduction of a triple bottom line also known as "people, planets, profits". The company reports its financial, social and environmental performance. The Dow Jones Sustainability Index benchmarked companies based on the triple bottom line report. This performance report recognizes that businesses must earn for survival but encourage ethical and sustainable business practices
If companies are forced to choose to maintain profitability or engage in ethical business, there is often tension within the company's internal ethics and interests. As profits begin to emerge, businesses desperate, then they may choose unethical business practices to maintain business. This type of dilemma may create internal and external tensions within the company. The company's sole responsibility is to restore the profit. Today, they are answering not only shareholders but also the stakeholders of local communities on which the business depends. (Ephermajournal.org)
In order to maintain the company's existence and profitability of the company, the company must act ethically and conduct all activities ethically. Because we saw several beneficial companies suffering from bankruptcy and huge losses. The main reason behind these failures is the lack of business ethics. Studies show that only moral organizations can survive and develop, and unethical organizations are short-lived, grow fast, and even forge even faster. Ethical companies expect relationships among employees, customers, public and other businesses. Ethical employees expect loyalty and employee productivity if consumers who know that the company is implementing an unethical policy can boycott the company's products . (Oak, M. (2008-09-08). "Importance of morality in business")