Profit-making in business operations is very important because the reason we are embarking on business is for profit-making. Every business owner wants to make a profit, while some are just aiming to make a profit and entice customers to them.
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Ethics, on the other hand, is also something a business owner should not shy away from, as it is essential to keep the business running. Business is meant to counterbalance these two terms. Although balancing these two terms is not easy, it is because everyone, including business owners, wants to focus solely on making a profit.
This means that both profit and ethics are paramount to keep the spirit of business moving. In a business setting, there must be morals and principles that guide the business towards making better decisions. Ethics in business is just a way to promote and grow the business in terms of the long-term phase of life.
To balance ethics with profit, there are so many things to be considered. Things that can bring the two aspects to stay in the realm of life. Profit is meant to be made, while ethics is important to keep the business in the run. So, we need so many aspects of life to bring the business to a better shape. — If you want to make your customers happy, then the ethics focus needs to be encouraged. This can also enhance a better employee morale, which would in turn build the reputation of the business to the fullest. Insofar as that business is made for profit, it can also be created for a better customer rapport. — A long-term base strategy is the way out in balancing these two terms in business. Business is made for the long term, which would bring long-term profit. Making your profit without growing the business cannot help the growth; instead would drop the business to the final level.
A school happened started small and was not after profit, but was after building up the business for long-term purposes. They started with few students and struggled to pay profit, without making a profit. After a few years, their mission started blooming, and they started making profit which can is termed long term type.
They struggled and were paying teachers' salaries from the salaries they were earning from where they were working. Two of them were teachers, while the other was just a normal working-class being. He later resigned and was given the task of managing the school. He started managing it even though he was not expecting a salary. It was so great that the three of them trusted each other to the last level. To crown it all, they are both pastors and from the same denomination.
After growing the business to a certain level, the other two grew to a certain level where they retired. They started reaping what they had planted.
Business is not just meant to make profits to build up customers. But profit is the major.