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Is Profit Ethical?

Author

Listed:
  • Olivier Giscard d'Estaing

    (INSEAD Foundation, Boulevard de Constance, 77305 Fontainebleau, France)

Abstract

The author reflects on the conditions of possibility of ethical profit making. In his view a sustained success of a firm depends on the professional competences and the climate of trust in the organisation. Only intrinsically ethical behaviour is able to create and sustain trust. If the rush for profits makes short-term shareholder value creation to become the only objective of the company, it is certainly on the wrong track. The objective of the company cannot be a short-term maximisation of profit, but an optimisation of it on the middle and long term.

Suggested Citation

  • Olivier Giscard d'Estaing, 2003. "Is Profit Ethical?," Society and Economy, Akadémiai Kiadó, Hungary, vol. 25(2), pages 153-158, October.
    • Handle: RePEc:aka:soceco:v:25:y:2003:i:2:p:153-158
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