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By committing to sound fair business practices, one is able to attract customers and consequently make profits. Good will cannot be earned or created in a short time. when an organization continues on the path of fair business practices after adopting sound management priciples and adopting triple bottom line priciples of Social responsibility, financial responsibility and financial responsibility , in the long run it is able to garner goodwill.
As such it is importnat to continue to be in business and earning sustainable profits and growth one is able to ensure creation of goodwill .
Both Goodwill and profitability are two sides of the same coin that is current and known as a successful orgnaization. they cannot be separated.
GOODWILL IS MOR IMPORTANT BECAUSE IT KEEP THE CUSTOMERS
Hmmm .... there is some confused thinking behind this question I think.
What is goodwill? It is anticipated future profits. Goodwill is worthless if that potential profit cannot be turned into actual profit.
So what does the question mean? Does it mean "which is better, actual present profits or possible future profits?" Well that simply depends on what you want, and your confidence in being able to realise those potential profits, and your ability to fund the business until that time.
Goodwill will provide long lasting profitability.
Can business survive without profit but with goodwill? Common, business is not a charity institution.
Goodwill,Goodwill is the one and only asset that competitor cannot undersell of destroy.Another advantage of goodwill is that, even if you make a blunder, your customers are willing to forgive you when you apologize. This is because of the trust they have in your business from previous experiences.
I fully agree with the answers been added by EXPERTS.......................Thanks.
Profitability is more important for maney making businesses because otherwise they sieze to exist.
Profitability,no business can survive on good well.by the end of days expenses must be settled and goals must be met.
goodwill is the long term and sustained profits attribute.
Goodwill is always preferred over profitability. t will create a lasting impact on the business whereas for securing finance for short terms profitability will help the organization.
