The “ethics” of being profit focused

Purpose – This paper seeks to emphasise the importance of firms being responsible to society. Design/methodology/approach – The paper examines firms' omissions and commissions in the various functional areas of management while they focused on profit. Examples of such omissions and commissions are also discussed. Support from businessmen and authors who share such a viewpoint is mentioned Findings – In the long term, firms that are socially responsible are successful. Practical implications – Practising social responsibility consciously, firms can make the world a better place for all people. It can be beneficial for the entire society. Originality/value – Omissions and commissions arising out of being profit‐focused are the author's original contribution. The paper is of value to researchers and practitioners of corporate social responsibility and business ethics. Firms need to understand that they cannot succeed and excel for long if they neglect stakeholders other than shareholders.