Which of the following statements is true of 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 is not solely focused on maximizing profits or stockholders' wealth, and it recognizes that actions can have multiple consequences. The option A and B are incorrect as utilitarianism is not solely focused on profit maximization. The option D is incorrect as it goes against the ethical principle of moral relativism, which states that ethical norms should be followed regardless of what others are doing. The option E is incorrect as utilitarianism does consider multiple consequences.

Which of the Following Statements Is True of the Utilitarian