Aqua-Wave Aquariums (AWA)
Ben, Jeremiah, and Stacey, senior executives at AWA, are discussing the recent complaint by a consumer protection agency that a particular aquarium model is prone to leaks. Ben argues that the company's only responsibility is to maximize profits (within legal and market parameters, of course), so AWA should simply deny any responsibility and resist change. Jeremiah argues that AWA should put up a legal fight and use a public relations campaign to avoid assuming additional responsibilities. Stacey can't accept either argument. She favors taking the initiative and establishing a positive role model for the aquarium industry. Stacey argues that AWA's actions should result in greater good than harm for the society of which they are a part.
-Refer to Aqua-Wave Aquariums. Ben's beliefs can be characterized as following the __________business model.

Question

Quizplus · Accepted Answer

Ben's argument that AWA's only responsibility is to maximize profits falls under the classical economic business model, which states that the main responsibility of a business is to generate profits for its shareholders. This model focuses solely on creating wealth and assumes that businesses do not have any moral or social responsibilities beyond maximizing profits.

Aqua-Wave Aquariums (AWA) Ben, Jeremiah, and Stacey, Senior Executives at AWA, Are Discussing