Adoption of which of the following ethical approaches is most likely to cause a company to use tools such as cost-benefit analysis and risk assessment to weigh all of the social benefits and costs of a business action?

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As a philosophy for business ethics, utilitarianism focuses attention on the need to weigh carefully all of the social benefits and costs of a business action and to pursue only those actions where the benefits outweigh the costs. The best decisions, from a utilitarian perspective, are those that produce the greatest good for the greatest number of people. Many businesses have adopted specific tools such as cost-benefit analysis and risk assessment that are firmly rooted in a utilitarian philosophy.

Adoption of Which of the Following Ethical Approaches Is Most