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TOK

Can business objectives be ethical and profitable at the same time?

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Yes, patagonia outdoor clothing brand. They usually helping the environment by using recycled materials and donating money to eco friendly causes. because of that it earned them loyal customers and strong sales.

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patagonia is a designer of outdoor clothing and gear for the silent sports: climbing

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Patagonia is a designer of outdoor clothing and gear for the silent sports: climbing, surfing, skiing and snowboarding, fly fishing, and trail running

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Ethical objectives can increase brand loyalty as customers know that the business is being ethical and they will continue to support the business.

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Firstly, businesses with ethical objectives essentially builds trust, public reputation, and fosters customer loyalty.

This helps in the long-term period. Business with a strong ethical objective that respects all sorts of rules and regulations and does not indulge in several conflicts, has a stronger and a wider range of loyal customers. This essentially helps the business to grow over time, resulting in a successful and profitable businesses.

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consumers prefer to buy from companies that have good values, including ethical practices, leading to increased sales and customer loyalty. They will have a good and strong reputation to the public.

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Absolutely, infact- in this day and age, comsumers are more actively searching for ethical businesses and if the business continues on this route, it could build strong brand loyalty within them as they know your products are both trustworthy. Examples of businesses such as this are Patagonia, The Body Shop, and Ben & Jerry’s. To this day, little to no propaganda has affected these businesses and they still continue to strive to this day.

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I believe they can. with the uprise of environmental awareness happening in society and more knowledge being shared around the world, more people are advocating for sustainability and ethical considerations and are more likely going to boycott a business who don't meet those ethical considerations. take starbucks for example who supported israel, basically supplying money to the soldiers there. since this money is also going to killing innocent palestinians, people are boycotting the business.

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This factsheet examines the reasons behind the boycott of Starbucks by certain pro-Palestine activists, particularly in light of allegations of mistreatment of Starbucks Workers United following a solidarity tweet with Palestine. It delves into Starbucks' claimed neutrality, its legal actions against the union, and indirect economic ties to Israel through major shareholders, sparking debates about its complicity in the Israel-Palestine conflict and prompting considerations for conscientious consumers.

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Sure Business objective can be both ethical and profitable ethical build trustto customers  and growing company name which can lead increase in profit in long term.

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Sure Business objective can be both ethical and profitable ethical build trustto customers  and growing company name which can lead increase in profit in long term.

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https://www.strategicadvisorboard.com/blog-posts/the-balancing-act-profit-ethics-and-social-responsibility-in-business

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It depends on business, if they set there goal as an ethical objective, of course they can build loyalty with customers, and this case will directly lead to increase in demands. So even if seemed for non profit objective, it can be for profit indirectly.

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In our opinion, businesses can set ethical standards and objectives as a goal to make a profit, however, most companies aim for profit and disregard ethics in their operations. Cash is king and that's what most businesses desire thus ethics are a second thought.

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Yes, it is possible to be ethical and make a profit in business, sticking with ethical behavior can ultimately provide longevity for your business, besides, ethical business practices can lead to better brand reputation, which in turn attracts new customers, employees, and investors to the company.

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Yes, businesses can be both ethical and profitable, as ethical practices can enhance brand loyalty and attract customers who prioritize corporate responsibility. By integrating ethical values into their operations, companies often discover new opportunities for innovation and efficiency, leading to sustainable profitability.

https://www.qandb.org/articles/can-your-business-be-ethical-and-profitable

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Can Your Business Be Ethical and Profitable?

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by Maureen O’Callaghan, PhD student of prosocial values and behaviour in entrepreneurs at the University of Lincoln.

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Business objectives can be both ethical and profitable at the same time. The idea of blended value suggests that economic and social values are intertwined. Organizations can pursue both economic value and social value concurrently.