Cadmium Technologies 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 appreciated for abiding by the laws while earning profits.According to this information,which of the following approaches to ethics is most likely being adopted by Cadmium Technologies?

Question

Quizplus · Accepted Answer

Cadmium Technologies is following the Friedman Doctrine, which asserts that the sole responsibility of a company is to increase profits for its shareholders while playing within the rules and regulations of the law. The firm is criticized for not engaging in any social investments, but it is praised for complying with the law while earning profits.