Why is the notion that “profit is the only goal of business” considered outdated and dangerous today?
While profitability is essential for sustainability, reducing business to just making money ignores its social, ethical, and environmental responsibilities.
Problems with this belief:
Short-Term Focus:
Companies that chase quarterly profits often undermine long-term growth and brand trust.
Neglect of Stakeholders:
Modern business must serve not just shareholders, but also employees, customers, society, and the environment.
Loss of Talent and Loyalty:
Employees increasingly seek purpose-driven companies, not just profit-driven ones.
ESG and Brand Risk:
Ignoring environmental or social concerns can damage brand reputation and invite regulatory scrutiny.
Modern perspective:
Success is multidimensional—measured in financial stability, positive impact, employee well-being, innovation, and customer trust.
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