Ethical Business

“A business that makes nothing but money is poor business.” This is a well known and most commonly used quote of Henry Ford, an Amercian Industrialist and the founder of Ford Motor company. This quote clearly expresses that a business should not only aim for profit maximisation , there are various other responsibilties that one should bear. Ethical business not only means to have a good relationship with the customer but also to protect the health of consumers and other citizens. But how of many businesses are following such practices? How many are following the guidelines provided by the government? How many are ensuring the life protection of the workers?

A common agenda of most of the businesses these days is ‘profit-maximisation’ and in order to achieve this goal they tend to forget that if they are taking something from the society , they need to give something back. The enrionmental havoc that many industries are creating just to earn profit is beyond imagination and unfathomable. Top four industries that contribute to global warming and other environmental hazards are Fertilizer industry, Tannery industry , Pesticides industry, Chemical industry. Central Pollution Control Board classified The Indian Fertilzer Industry under ‘red catregory’ which is really a matter of concern. Not only this , CPCB also stated that out of 52% plants, assessed in study, 12 plants received directions or show cause and even closure notices for water pollution and air pollution and solid waste management. All these figures clearly indicates the irresponsibility and carelessness of businesses.

In the era where every industries and businesses focusses on gaining profit there are certain businesses which are balancing both ethics and profits.One of such corporation is Anand Milk Union Limited (Amul). Amul is really setting an example for ethical business by providing jobs to around 12 million small farmers. They do not lean on big farmers rather they collect milk from small farmers, benefitting both the service industry and the Corporation. These small producers are grouped in nearly 108547 village – level dairy corporation society. According to data, India’s milk production has increased from 21.2 million metric tons in 1968-69 to 88.1 million metric tons in 2003-2004. These figures are gradually increasing year by year. Not only Amul , in 2018 seven leading industries namely Adidas , Method, Norton Point, West Paw, Clifbar, Waitrose, Rubbermaid, took up ‘End Plastic Pollution’ Campaign in order lessen the plastic pollution.

All the above examples suggests that it is possible to do business keeping ethics in mind. In a run long for a business to survive and thrive , community service and profit should go hand in hand . There are many ways through which a business can cater service to the needy or environment. ‘Cleaning Campaigns’, ‘charitable works’, ‘donation,’ ‘providing jobs to the lower class people’ are some of the ways to balanace profit and ethics. If business follows “one must clean his own mess” rule it will not only gain public support and profit , but also it will set example for other businesses to follow.

Post a Comment