Question

Determine which moral standard of social responsibility the business is observing. Earl's company wants to change the material it uses for its products to a cheaper, less-durable material. Processing the material causes more waste and the final products will not be as safe for customers, but the company will make more money overall.

A) Ethical
B) Legal
C) Economic
D) Philanthropic

Answer 1

The business in the scenario is observing the Economic standard of social responsibility, focused on profit over ethical considerations or customer safety.

Step-by-step explanation:

In the scenario presented, the moral standard of social responsibility the business is observing could be classified as Economic. The decision to change to a cheaper, less-durable material that causes more waste and results in products that are not as safe for customers is driven by the aim to increase profits. This choice is primarily aligned with the economic interests of the business, potentially at the expense of ethical considerations, customer safety, and environmental care. Milton Friedman's perspective might support this as he argued that the moral responsibility of businesses is to increase profits. However, this view contrasts with the emerging consumer demand for corporate responsibility and ethical behavior.