Profit: An Overrated Excuse
![handle is hein.journals/ijlmhs15 and id is 1044 raw text is: International Journal of Law) Management & Humanities
Profit: An Overrated Excuse
AISHWARYA KUMARI AND RUDRA NARAYAN PANDEY2
ABSTRACT
Ifyou can fill the unforgiving minute, With sixty seconds worth of distance run,
Yours is earth and everything that's in it, And- which is more -you'll be a Man
- If by Rudyard Kipling
A business surviving in a dynamic market is similar to a man living his life to the fullest.
With ups and downs that are not predictable, with equal consequences of their actions and
most importantly the game of risk and returns. Man will be able to survive the challenges
in his life and attain satisfaction only if he strikes the right balance between virtues and
accommodation. Similarly, a business will be able to survive in the market only if there is
a balance of competitive decisions and return to society. This return to society is not an
easy run always, as with complex circumstances the business is put in a place to choose
and this being on the heavier and the costlier side. However, it should not cloud their vision,
mission and goal in the market. The business may incur a small cost in the short term but
will be able to thrive in the long run. With the position a business has in the society and the
inherent power it holds in people's lives as a producer and a primary source of livelihood,
it is the duty of the business to make people-centric decisions. However, many a times we
encounter circumstances where companies are ruthlessly running after profit that effects
every section of society involved. This paper deals with such instances and explores the
option of a middle ground to get close to the 'ideal' of business.
Keywords: profit, consumer awareness, business, CSR, workmen compensation.
I. INTRODUCTION
Profit is a word we usually associate to every business and determine the performance of the
company through its profit. It is taught at business schools that profit is the difference between
the cost incurred by the company and the sales and revenue of the business. But there is much
more to this than what is understood by us.
'Profit making' and 'Profit maximization' are usually synonyms but with a key differentiator
is the accountability 3. Accountability is an important aspect without which any venture could
1 Author is a student at Symbiosis Law School, Noida, India.
2 Author is a Founder of Vyolve Private Limited, India.
3 Emily Northrop, THE ACCURACY, MARKET ETHIC, AND INDIVIDUAL MORALITY SURROUNDING THE
PROFIT MAXIMIZATION ASSUMPTION Vol. 58, No. 2, The American Economist, pp. 111-123 (Fall 2013)
© 2022. International Journal of Law Management & Humanities [ISSN 2581-5369]
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Profit: An Overrated Excuse
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