i. profit maximization a. premise: market should reward the seller producing the best product at...

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

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 influenceD. Law-breakingE. Unknown harmsF. Irrational behavior

IV. Sources of Ethical Guidance

A. Values that find wide acceptance

B. Corporate or industry codes of conduct

C. Constituency values

V. Frameworks for Ethical Decision Making

A.Teleology1. Utilitarianism2. Cost/benefit model3. Pinto/Mustang cases

B.Deontology1. Innate rightness or wrongness of conduct2. Application: universalizing3. Pinto4. Long term vs short term profit

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