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Ethical theories

4.2 Explanation

Content What it contains

Pristine capitalist Underpinning value is shareholder wealth maximisation

Expedients Recognise some social responsibility expenditure may be
necessary to strategically position an organisation so as to
maximise profits

Proponents of Businesses enjoy a licence to operate granted by society so long
social contract as the business acts in an appropriate way

Social ecologist Recognises that a business has a social and environmental
footprint and therefore bears responsibility for minimising that
footprint

Socialist Actions of business are those of the capitalist class oppressing
other classes of people

Radical feminist Society and business should be based on feminine characteristics
such as equity, dialogue, compassion and fairness

Deep ecologist Humans have no more intrinsic right to exist that any other
species

Illustrations and further practice

Now try TYU question 3

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