business ethics

Although the main purpose of a business is profit maximization, taking social responsibilities is essential because it is strongly connected to business reputation, which is the major concern of public relation department of a business. Sometimes business ethics can be combined with promotion strategy, and here comes the example of Starbucks, one of the world’s largest coffee producers. Starbucks takes the concept of ‘environmentally friendly’ by using recyclable cups and offering health insurance to its baristas. These actions can not only win positive reputation for a business but also improve the motivation of employees( by providing health insurance). Therefore Starbucks can get increased consumer loyalty. Additionally, Starbucks admired one of the 100 Best Companies to Work for. The environmentally friendly reputation also helps itself expanding to a multinational company over the past 10 years.

In conclusion, a business should maximize profit while ensure that it takes responsibilities of its stakeholders because business ethics is beneficial to both the business itself and stakeholders( in the case of Starbucks, the general public and its employees).