Final answer:
L'Oréal and Trzaska likely catered to multiple stakeholders, guided by the stakeholder theory that dictates balancing various interests, including employees and the community, beyond just shareholder value.
Step-by-step explanation:
In the context of L'Oréal and the decisions made by its management and Trzaska, it is evident they had to consider multiple stakeholders. Stakeholder theory posits that a company should balance the interests of all parties with a stake in the firm, which can include shareholders, employees, customers, and even the community at large.
This philosophy suggests that, rather than focusing solely on shareholder primacy, L'Oréal's management likely aimed to address the concerns and well-being of its employees, consumers, and other parties influenced by its operations. This is especially apparent in contemporary discussions regarding corporate responsibility and the importance of workplace safety and community impact.
The concept of duty within shareholder primacy would suggest a primary focus on enriching shareholders. In practice, however, companies often navigate a landscape where they must also consider safety standards such as those imposed by OSHA, and the broader socio-economic impact they have, as informed by historical shifts in business regulations and ethical considerations.