What is a Fair Profit? On It's A Question of Balance with Ruth Copland
Business is geared up to make as much money as possible but is there such a thing as too much profit? What effect does squeezing the last penny out of any transaction have on best practice decisions, and on how much pay and what kind of benefits to offer workers? Some CEOs of successful companies have made a choice to have a healthy bottom line that also supports the environment, good working conditions, and good pay for all employees. This may mean that the overall profit is decreased but employee engagement and retention are high and everybody in the company is benefiting from the company’s success. This model is easier for private companies than publicly traded ones as shareholders may not be happy with less profit. Should a business balance profit goals with altruistic considerations - such as protecting the environment? Or should a business be trying to make as big a profit as possible? What do you think is a fair profit? Local people share their views with Ruth on the show’s Out and About feature (broadcast 20 May).
For more information on the show and to listen to past shows click here It's A Question of Balance