Which of the following statements is true about the utilitarian approach to business ethics?

Question

Quizplus · Accepted Answer

The utilitarian approach to business ethics holds that a business should pursue only those actions where the social benefits outweigh the costs. This approach considers the impact of a decision on all stakeholders, including employees, customers, and the community. It suggests that the best decision is the one that produces the greatest overall benefit for society, not just for the businesses themselves or their shareholders. Therefore, option C is the correct statement. Option A and B are incorrect as they focus only on maximizing profits, and option D is incorrect as it goes against the very idea of ethics. Option E is incorrect as the utilitarian approach takes into account all possible consequences of an action.

Which of the Following Statements Is True About the Utilitarian