Even Friedman's Dictum to Maximize Profits Is Subject to the Limits

question 19

Essay

Even Friedman's dictum to maximize profits is subject to the limits of the law and ethical custom, both of which leave a gray area between what is clearly responsible and what is clearly irresponsible. Under such circumstances, where should managers obtain guidance from?

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Definitions:

Progeria

Severe retardation of growth after the first year accompanied by a senile appearance and death at an early age.

Parturition

The process of childbirth or the act of giving birth.

Physiological Changes

Modifications or adjustments in the functions or activities of the body as a response to various stimuli or environmental conditions.

Homozygous Dominant

A genetic condition where an individual has two identical dominant alleles for a particular trait.