The most effective strategy for a company to use to maintain and increase profits over the long term is to maintain high ethical standards
Discuss the extent to which you agree or disagree with the opinion stated above. Support your views with reasons and/or examples from your own experience, observations or reading.
While maintaining high ethical standards is imperative to bolster the good name and brand value for a company, it is not the only most effective strategy to maintain and increase profits. To quote Yogi Berra, a famous baseball player, "In theory, there is no difference between theory and practice. But in practice, there is." Thus, in an Utopian setting, it can be argued that if an organization maintains high ethical standards then only good things would happen to them, in reality,to achieve monetary success, the organization will have to make efforts spanning a multitude of dimensions.
For example, consider the pharmaceutical industry. It is characterized by cut-throat competition with new and innovative drugs entering the market at a fast pace. An ethical issue that most organizations in this industry face are with regards to clinical trials. Namely, use of animals for testing their new products. If in the name of ethics, a company refuses to conduct such clinical trials, the effects of the same - both deleterious and beneficial - will never come to light. In some situations, for the greater good, some tests and experiments need to be conducted, that will result in products that benefit the humanity in the long run and thus creating a new niche market of the new product, resulting in monetary gain and increased profit for its manufacturer.
For example, consider the history of the development of groundbreaking scientific drugs. The scientists would have faced the ethical and moral dilemma in several instances. But if that had deterred them from proceeding with further testing, many of the useful medicines and products that are available today would never have existed. If ethical dilemma had stopped such inventors from investing in new products and services, then they would never have profited financially and would have eventually faded away from the business world.
However, while it is not a given that maintaining high ethical standards will undoubtedly result in profit for the firm, it is also not true that organizations that completely ignore and refute ethical practices - be it in business or experiments - will financially prosper in the long run. For example, following on from the example from before, if the same company that wants to conduct clinical trails wants to test their drugs on human beings while keeping the participants of the trail in the dark about the side effects of such a test, then such an act can raise questions on ethical practices. There are several instances in history, when such unethical acts of companies have come to light, completely ruining the company's existence.
In conclusion, a clear boundary between ethical and non-ethical practices must be defined. Several companies do this by making their employees aware of ethics in business, industry, research and so on by providing them training. More importantly, the government can come up with guidelines to regulate and ensure that all companies abide by a set of rules related to ethical and moral standards for doing business. In short, to maximize profit and to stay profitable in the long run, the companies should strive to achieve the optimum balance between maintaining ethical standards and making sure their products do well in the market.
Grammar and spelling errors:
Line 1, column 347, Rule ID: EN_A_VS_AN
Message: Use 'a' instead of 'an' if the following word doesn't start with a vowel sound, e.g. 'a sentence', 'a university'
Suggestion: a
...t in practice, there is.' Thus, in an Utopian setting, it can be argued that ...
^^
Line 1, column 495, Rule ID: COMMA_PARENTHESIS_WHITESPACE
Message: Put a space after the comma
Suggestion: , to
... things would happen to them, in reality,to achieve monetary success, the organizat...
^^^
Transition Words or Phrases used:
also, but, however, if, so, then, thus, well, while, for example, in conclusion, in short
Attributes: Values AverageValues Percentages(Values/AverageValues)% => Comments
Performance on Part of Speech:
To be verbs : 14.0 19.5258426966 72% => OK
Auxiliary verbs: 16.0 12.4196629213 129% => OK
Conjunction : 22.0 14.8657303371 148% => OK
Relative clauses : 12.0 11.3162921348 106% => OK
Pronoun: 28.0 33.0505617978 85% => OK
Preposition: 77.0 58.6224719101 131% => OK
Nominalization: 8.0 12.9106741573 62% => OK
Performance on vocabulary words:
No of characters: 2760.0 2235.4752809 123% => OK
No of words: 529.0 442.535393258 120% => OK
Chars per words: 5.21739130435 5.05705443957 103% => OK
Fourth root words length: 4.79583152331 4.55969084622 105% => OK
Word Length SD: 2.83730153806 2.79657885939 101% => OK
Unique words: 266.0 215.323595506 124% => OK
Unique words percentage: 0.502835538752 0.4932671777 102% => OK
syllable_count: 865.8 704.065955056 123% => OK
avg_syllables_per_word: 1.6 1.59117977528 101% => OK
A sentence (or a clause, phrase) starts by:
Pronoun: 5.0 6.24550561798 80% => OK
Article: 9.0 4.99550561798 180% => OK
Subordination: 6.0 3.10617977528 193% => OK
Conjunction: 2.0 1.77640449438 113% => OK
Preposition: 9.0 4.38483146067 205% => Less preposition wanted as sentence beginnings.
Performance on sentences:
How many sentences: 20.0 20.2370786517 99% => OK
Sentence length: 26.0 23.0359550562 113% => OK
Sentence length SD: 80.3684484111 60.3974514979 133% => OK
Chars per sentence: 138.0 118.986275619 116% => OK
Words per sentence: 26.45 23.4991977007 113% => OK
Discourse Markers: 4.45 5.21951772744 85% => OK
Paragraphs: 5.0 4.97078651685 101% => OK
Language errors: 2.0 7.80617977528 26% => OK
Sentences with positive sentiment : 13.0 10.2758426966 127% => OK
Sentences with negative sentiment : 3.0 5.13820224719 58% => More negative sentences wanted.
Sentences with neutral sentiment: 4.0 4.83258426966 83% => OK
What are sentences with positive/Negative/neutral sentiment?
Coherence and Cohesion:
Essay topic to essay body coherence: 0.245529302668 0.243740707755 101% => OK
Sentence topic coherence: 0.0760837222275 0.0831039109588 92% => OK
Sentence topic coherence SD: 0.0620542420017 0.0758088955206 82% => OK
Paragraph topic coherence: 0.139205860638 0.150359130593 93% => OK
Paragraph topic coherence SD: 0.0411232106466 0.0667264976115 62% => OK
Essay readability:
automated_readability_index: 16.4 14.1392134831 116% => OK
flesch_reading_ease: 45.09 48.8420337079 92% => OK
smog_index: 8.8 7.92365168539 111% => OK
flesch_kincaid_grade: 13.4 12.1743820225 110% => OK
coleman_liau_index: 13.29 12.1639044944 109% => OK
dale_chall_readability_score: 9.08 8.38706741573 108% => OK
difficult_words: 139.0 100.480337079 138% => OK
linsear_write_formula: 14.0 11.8971910112 118% => OK
gunning_fog: 12.4 11.2143820225 111% => OK
text_standard: 14.0 11.7820224719 119% => OK
What are above readability scores?
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Rates: 83.33 out of 100
Scores by essay e-grader: 5.0 Out of 6
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Note: the e-grader does NOT examine the meaning of words and ideas. VIP users will receive further evaluations by advanced module of e-grader and human graders.