CopperTech Inc. believes that the sole purpose of its existence is to maximize profits for its stockholders. The firm has often been criticized for not engaging in any social investments. However, the firm has been praised for abiding by the laws while earning profits. Which philosophical approach to ethics does this demonstrate?

Question

Quizplus · Accepted Answer

The Friedman doctrine posits that the primary responsibility of a business is to maximize profits for its shareholders, as long as it operates within the law. CopperTech Inc.'s focus on profit maximization while adhering to legal standards aligns with this approach.