• Use of Resources: Society bestows upon businesses, the authority town and use land and natural resources. In return, In return, society has the right to expect that productive organization (i.e. business enterprises) will cater to the general interests of consumers employees and community.
  • Fairness: Society may also expect that business enterprises honour existing rights and limit their activities within the bounds of justice, equity and fairness.
  • Implied Contract: All productive enterprises can be viewed as engaging in an implied contract with the Society. So, under this “social contract” between society and business, the behaviour of business enterprises is guided by “Business Ethics”.
  • Corporate governance: in the process of corporate decision – making, managers contribute, consciously or unconsciously to the shaping of human society – it is not a choice between profits and ethics, but profits in an ethical manner. This has lead to the evolution of “corporate governance”.


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