Question

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?
A. Naive immoralism

B. Friedman doctrine

C. Ethnocentrism

D. Utilitarianism

E. Righteous moralism

Answer 1

Answer:

The correct answer is letter "D": Utilitarianism.

Explanation:

Utilitarianism is a theory of philosophy that emphasizes optimizing the use of resources for most people in a society. British philosophers Jeremy Bentham (1748-1832) in "Introduction to the Principles of Morals and Legislation" (1789) and John Stuart Mill (1806-1873) in "Utilitarianism" (1863) were the most important characters who proposed this idea.

Then, utilitarianism should be applied to carry out cost-benefit analysis and risk management to balance all of a company's social gains and costs.