Assignment task:
For managers to maximize shareholder value from a ethical constraint basically means that the manager when making decisions on day to day should consider the responsibility to the shareholders. Shareholders have a stake in the company through stock value that must be considered by managers. A manager usually must realize their are four categories to apply when making decisions: social responsibility, fairness and justice, transparency and accountability and Integrity. Each one of these categories play a large role for the manager when making decisions.
Social responsibility includes the community and the environment that will be affected by product. Transparency and accountability involve making sure that product is not undermining the community or not representing what the company value are in the community. A manager must be able to make sure of the fairness and justice the product will be centered around. Integrity of the community will not include fraud or misleading of the product with the vision.
Ethical considerations that might factor into decisions is the quality of the product and the value to the community.
Reference:
Donaldson, T., & Preston, L. E. (1995, January). The stakeholder theory of the corporation: Concepts, evidence - JSTOR. JSTOR.