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I. Profit Maximization A. Premise: market should reward the seller producing the best product at reasonable B. Competition between sellers is a good C.

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Presentation on theme: "I. Profit Maximization A. Premise: market should reward the seller producing the best product at reasonable B. Competition between sellers is a good C."— Presentation transcript:

1 I. Profit Maximization A. Premise: market should reward the seller producing the best product at reasonable B. Competition between sellers is a good C. Leads to efficient use of resources

2 II. Social Responsibility A. Characteristics B. Cost to society C. Advantages

3 III. Law as a Corporate Control Device A. Public dissatisfaction will lead to legislation prohibiting conduct B. Limits on law's ability to control corporate behavior C. Corporate influence D. Law-breaking E. Unknown harms F. Irrational behavior

4 IV. Sources of Ethical Guidance A. Values that find wide acceptance B. Corporate or industry codes of conduct C. Constituency values

5 V. Frameworks for Ethical Decision Making A.Teleology 1.Utilitarianism 2.Cost/benefit model 3.Pinto/Mustang cases B.Deontology 1.Innate rightness or wrongness of conduct 2.Application: universalizing 3.Pinto 4.Long term vs short term profit

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