Integrity versus profits
22 January 2025
Integrity is more important than profits. At least, this is my view as the owner of many small businesses since the late 1970s (IT, law, pathology, medical publishing). Of course, businesses must be profitable but we should not be squeezing every last penny we can out of our employees, customers and community. It’s bad for them and typically bad for our business because our relationships with them will suffer.
Business leaders should stand up for our common values. We have to get along with politicians but we should not cower before them, as many CEOs appear to have done with Trump. We should also make charitable giving a major part of our business, as I have done with my current business. This helps charities and society, promotes the business as caring about creating a better world and keeps corporate egos in check by focusing on those that need our help.
Although I am not perfect at this, I try to avoid businesses that lack integrity and support those that do. Often, this means supporting small businesses and avoiding multinational corporations. I try to avoid Trump related businesses, businesses that are major supporters of Trump, Amazon, Walmart, Rupert Murdoch’s businesses (Fox, New York Post, Wall Street Journal), Elon Musk’s businesses and Chinese businesses. It is important to read the major newspapers to know what the business community is doing so I can make the appropriate decisions about dealing with them.
What is your approach?
Related essays on Integrity:
I believe in capitalism. I don't believe in greed, 19 September 2024
Integrity, 18 June 2024
Greedflation, part 3, 8 May 2024
Greedflation, part 2, 16 April 2024
Greedflation, part 1, 5 February 2024
The index to my prior essays (mostly post 5 November 2024) is here.
I have another blog on Cancer and Medicine.
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