Profit: An Overrated Excuse

  • Aishwarya Kumar and Rudra Narayan Pandey
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  • Aishwarya Kumar

    Student at Symbiosis Law School, Noida, India.

  • Rudra Narayan Pandey

    Founder of Vyolve Private Limited, India.

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Abstract

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.

Type

Research Paper

Information

International Journal of Law Management and Humanities, Volume 5, Issue 1, Page 945 - 960

DOI: https://doij.org/10.10000/IJLMH.112531

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This is an Open Access article, distributed under the terms of the Creative Commons Attribution -NonCommercial 4.0 International (CC BY-NC 4.0) (https://creativecommons.org/licenses/by-nc/4.0/), which permits remixing, adapting, and building upon the work for non-commercial use, provided the original work is properly cited.

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