As a business students, it has been drilled into our minds that the primary purpose of business is to create value for shareholders. A recent incident made me question this. My grandmother inherited some money from her father, and a banker convinced her to deposit it all into one of the bank’s mutual funds. This helped him to meet his sales quota, but even a freshman in business school knows that this is not a wise investment for a 65-year old. Wasn’t it unethical of him to take advantage of my grandmother’s trusting nature?
Contributed by a business student.
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