Introduction:
Businesses are established to earn profits, but it is argued that profit maximization should not be the sole objective of business. There are various reasons why this argument is justified.

Reasons why Profit Maximization cannot be Sole Objective of Business:

1. Social Responsibility:
Businesses have a responsibility towards society, and they must consider the impact of their operations on the environment, employees, and other stakeholders. Profit maximization cannot be the sole objective if it comes at the cost of social responsibility.

2. Customer Satisfaction:
Businesses must aim to satisfy their customers by providing quality products and services. If the sole objective is profit maximization, businesses may compromise on the quality of their products, which may lead to dissatisfied customers.

3. Employee Welfare:
Employees are an essential component of any business, and their welfare must be considered. If the sole objective of a business is profit maximization, employees may be exploited by being paid low wages or working in harsh conditions.

4. Long-term Sustainability:
Businesses must aim to be sustainable in the long run. If the sole objective is profit maximization, businesses may engage in short-term profit-making activities that may not be sustainable in the long run.

5. Reputation:
A business's reputation is essential and can be affected by its actions. If the sole objective is profit maximization, businesses may engage in unethical practices that may harm their reputation and, in turn, affect their profits.

Conclusion:
In conclusion, profit maximization cannot be the sole objective of business. A business must also consider its social responsibility, customer satisfaction, employee welfare, long-term sustainability, and reputation. By considering these factors, a business can be successful in the long run while also earning profits.