Business Ethics

Although business ethics could get in the way of expanding its profits, I believe it is truly crucial to keeping law and order in place in our world. If we didn’t have ethics, then the sole purpose managers and executives see would be to do whatever they can to increase their profits. As well, if companies operated to benefit the environment, they would have to seek for the most sustainable method of production – which could lead to more levels of production and higher cost and that is not ideal for the company. I agree with Friedman’s claim that businesses should work to increase profits as long as it doesn’t go against the law because maximizing profit should be a company’s main goal and no one should intervene if they aren’t disrespecting the laws and customs. However, some companies, like CVS (American-based pharmaceutical company), feel obligated to follow their “social-responsibilities” and chose to stop selling tobacco-related products even if it threatens the company’s profit. I admire decisions like this so much because they are taking a major step and serving as a role model to other corporations to sacrifice a little for the overall improvement of our society.

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