Rationality and utility in decision-making process of purchase in relation to sustainable development

Abstract

Economics and ethics has become during recent years a very much discussed topic. Some economists argue that ethics has no place in business and business should be only about money. We all were witnesses of a Global crisis, which showed us the evidence of the lack of ethics in the corporate environment, public sector and among consumers (customers). Is business really about business, money and all measurable values only? In this article I will try to explain, why ethics is necessary in business and explain the development in the relationship between utility and rationality in business. Companies should monitor the development of society especially, when the end consumer has much more decision making power than ever before and reforms his decision-making preferences. The article points out the lack of focus on business issues of corporate social responsibility and demonstrates the potential to gain the attention of end-consumers and gain loyalty. This article aims to describe the relationship between the utility and rationality in decision-making process in business environment and to suggest a model of this process.