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Economic Bubbling

By:   •  April 22, 2019  •  Research Paper  •  387 Words (2 Pages)  •  729 Views

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Ethics and business go hand in hand.  You cannot have one without the other.  This does not mean that a very ethical business will be more successful than one which does not rely on heavily on ethics;  but it does mean that there should be a place for ethics in a business.  Ethics should be involved in the business from the very beginning when the goals and intentions were being put together.  They should also be involved in the infrastructure of the business once it is established.  Ethics in business is important, even though the primary goal of the organization may be to maximize profit, it must always have the intention to  produce some kind of social benefits or fulfillment that must be fulfilled.  An organization must provide something that others give value to.  From whichever angle it appears, business cannot exist without taking social needs into account.  And when taking social needs into account, a business requires the involvement of ethics in order to make sense of how to start or operate a business.  

Of course, it does not mean that a business embraces ethics as part of its importance.  This is a good example of ethics and a business going hand-in hand.  Ethics should not be considered a negative extrinsic thing or a setback to profit.  This initial profit motive and can contribute to the same motive This idea is different from Adam Smith's early articulations of the theory of wealth.  Smith felt that the main economic intent was to consider one's private interest and society as a whole would benefit.

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