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The kantian perspective fairness and justice
Milton Friedman's contribution to the economy
Milton Friedman's contribution to the economy
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Details of Scandal Ethical Issues and supported theories Friedman Perspective Milton Friedman’s view is that in a capitalist economy, there is one and only one responsibility of business: to use its resources and engage in activities designed to increase its profits. Business does not have a social responsibility to promote desirable social ends. A corporation is an artificial person. The corporate executive is the agent of the individuals who own the business and their main responsibility is to them. The directors of companies have a fiduciary responsibility to act in the best interest of the shareholders. The managers are agents of the shareholders and therefore have a moral obligation to manage the firm in the interest of the shareholders, which obviously is to make as much money as possible and maximize shareholder wealth. The shareholders are the owners of the organization and therefore the profits belong to them. In conclusion, Friedman believes that business is to maximize profits. He suggested a healthy corporation has to be not only ethically good, but also being economically good. Overall, as he stated in the article, business must gain profit without break the rules of game (D. Murphy, Class Lecture, January 17, 2014) Friedman’s desire that business should maximize profits within the law has been damaged by this giant security data breach. People who stolen customers information and identities not only broke the law, but also hurt Target’s business. Thousands of customers were outraged by this giant security breach. Target lost many customers and finds all kinds of ways to maintain customers loyalty. Even though Target has been doing everything they can, customers are still moving to other alternatives. According to ... ... middle of paper ... ...rding to Kant, the outcome that systems were not fixed immediately, doesn’t not mean Target has the intension of deliberately to avoid use the right information and technology to protect the customers. Target has been trying hard to maintain customers’ loyalty and satisfy their needs. So under Kant’s perspective, with the good intention of protecting customers and maintaining good customer relationships, Target Company is ethically good. Utilitarian Perspective Utilitarianism aims at a goal of greatest happiness and justifies any act that achieves that goal. It is a consequentialism, which means it solely, completely based on the outcome. This ethical concept believes that the greatest good for the greatest number. So the right thing to do is when we bring the best and most happiness for the majority, and is necessary to prevent the greatest amount of unhappiness.