The claim that Marcoux views shareholder-oriented businesses as unethical is False. Shareholder theory, endorsed by Milton Friedman, asserts the responsibility of businesses to maximize shareholder profits; it does not necessarily equate to unethical conduct. Stakeholder theory offers a broader ethical framework, considering all stakeholders' interests as well.
The statement 'Marcoux argues that shareholder-oriented businesses are unethical' is False. When discussing the ethics of business practices, shareholder theory and stakeholder theory present contrasting perspectives. Shareholder theory, as championed by Milton Friedman, emphasizes that the moral responsibility of businesses is to increase profits for their shareholders. This is underpinned by the deontological notion that corporate executives have a duty to act in the shareholders' best interests, as they have invested capital and own a portion of the company. In contrast, stakeholder theory posits that managers should balance the interests of all stakeholders, not just shareholders.
While the shareholder theory gives primacy to the financial interests of shareholders, it does not inherently suggest any form of ethical misconduct, assuming businesses operate within legal and social norms. However, critics of this approach argue that focusing on shareholder interests alone can lead to neglecting the welfare of other stakeholders, which can raise ethical concerns. It is the role of government regulation, such as the standards set by OSHA for workplace safety, to ensure that corporations do not act detrimentally to society while pursuing profit. In essence, whether shareholder-oriented businesses are deemed unethical depends on the broader context and balancing mechanisms such as government oversight and societal norms.