Two minority shareholders, John and Horace Dodge, sued to require payment of the dividend. The Michigan Supreme Court upheld management’s right to make decision for the benefit of company (the...

Two minority shareholders, John and Horace Dodge, sued to require payment of the dividend. The Michigan Supreme Court upheld management’s right to make decision for the benefit of company (the business judgment rule, discussed in chapter 30, “Corporations: Formation and Organization”); however, the court said that “the corporation is a business, not a charity,” and found for the Dodges because Henry Ford’s decision was to benefit the public instead of shareholders. Question: Which moral philosophy approach describes Henry Ford’s stated action? Explain