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I. Profit Maximization

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

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I. Profit Maximization

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  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 • Teleology • Utilitarianism • Cost/benefit model • Pinto/Mustang cases • Deontology • Innate rightness or wrongness of conduct • Application: universalizing • Pinto • Long term vs short term profit

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