The first option would provide the greatest good for the largest number of stakeholders but Joe. To put it more precisely, employees will benefit from the consistent improvement in the company brought by banks’ support. Banks and other investors would benefit from this options, for they will be able to take control over the business and manage the company more effectively than Joe did. In such a situation, Joe’s duty is to do the best for his business and stakeholders. He cannot put his personal interests and ambitions above the life of employees, who are likely to lose their jobs in case of his failure, as well as other stakeholders, such as banks and other investors.