Answer to Question #287266 in Economics for saleemaslam

Question #287266

Read the case to answer the following questions:

Case: The Ford Pinto | Business Ethics (uncg.edu)

Suppose you are trying to determine whether to go ahead with the existing Pinto design or to delay production and redesign. Taking a shareholder approach (Friedman), what action should you take given the information you have at the time of the decision and why? Taking a stakeholder approach (Freeman), what action should you take, and why?

Word Limit: 430 words


1
Expert's answer
2022-01-13T13:30:45-0500

Taking a shareholder approach (Friedman) the goal of the firm is to maximize returns to shareholders, so the company will delay production and redesign.

Taking a stakeholder approach (Freeman) businesses are driven not just by profits, but by purpose, values, and ethics, so the company will go ahead with the existing Pinto design.


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