When a company chooses what principle to follow on issues of ethics and social responsibility, there are two common philosophies to use as guides: let the free market and legal system decide or let individual managers and companies choose.

Question

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This statement is true. The two common philosophies are to either rely on the free market and legal system to regulate ethics and social responsibility or to allow individual managers and companies to make their own choices.

When a Company Chooses What Principle to Follow on Issues