Profits
Business ventures and organizations ought to become successful for
they come into existence for the same reason. Nevertheless, there are
various factors underlying the success of any business. Profit maximization
tops the list of these factors that are responsible for the essential
accomplishment of the desired organizational aims and objectives.
Nonetheless, as reviewing the relevant data on organizational success,
business enterprises, their functioning and their ability to thrive and
survive suggests, all businesses must make sure to strike a healthy balance
between "their desire for profits against the needs and desires of society"
(Integrity Management). This is where the relationship between profits and
social responsibility becomes evident. In my opinion, profits are no doubt
crucial and highly important in determining the success of a business. As
one of the research articles reads: "Any business, large or small, has only
four sources of available cash: new investment, new debt, the sales of
fixed assets, and operating profits. Internally generated profits
reinvested in the business dramatically enhance a firm's ability to grow
and to attract two of the other sources of cash, new investment and new
debt. Without profits, there is a very real limit to how much outside
investment a firm can attract or how much debt it can secure. Profit and
cash flow go hand-in-hand" (Landry, 2000).
However, I equally as well as firmly believe that in order to
establish a sound reputation that remains matchless when compared to other
competitors in the market thereby working on the success of the business,
it is highly significant that firms engage into tradeoffs and compromises.
These compromises on profits must be made keeping in mind that "trust is
the key driver between profits and integrity and public trust is important
for global corpo...