The line between Profits and Ethics

Most of businesses ultimate goal is generating profits from operating businesses. Profits are one of the most important factors that motivates people to run businesses. However, sometimes we face ethical issues that make us to rethink about generating profits. Does profits over ethics? Should ethics be priority? Most of public will say that businesses should act ethically. However we can find many businesses with moral hazards and unethical behavior.

Wonga is a loan businesses which has highly stable profits and growth, but this business is becoming very controversial in UK. This is because, despite the economic depression, Wonga made their customers to pay  150% of original price of loan. They took an advantage of their vulnerable  and the depressed economic state.

One of foot ball player who has to wear the shirt which is sponsored by Wonga refused to wear the uniform. This kind of action affect their brand image negatively and many medias are criticizing the Wonga’s unethical action. Even though their action is not illegal, but the business should not take an advantages from vulnerable. They will take a responsibility of this action later on.

Reference : Reaich, Neil. “Biz/ed – What Price a Loan? | Biz/ed.” Biz/ed – What Price a Loan? | Biz/ed. N.p., 30 July 2013. Web. 08 Oct. 2013.