Which is NOT a core element of ethical business practice?

The notion of profit maximization above all is not considered a core element of ethical business practice. While achieving profitability is vital for any business, ethical practices emphasize that the pursuit of profit should not come at the expense of honesty, integrity, and accountability to stakeholders. Ethical business practices advocate for a balance where organizations consider the impact of their decisions not only on their bottom line but also on their employees, customers, communities, and the environment.

In contrast, other elements such as honesty and transparency, accountability to stakeholders, and promoting a culture of integrity are fundamental to building trust and fostering a positive organizational environment. They underscore the importance of ethical behavior in decision-making processes and stakeholder interactions, ensuring that businesses operate not just for profit but also for the overall good of all involved.