The broad duties of a business that are needed to obtain the support of society are called its social contract.

Question

Quizplus · Accepted Answer

The concept of a social contract refers to the expectations and responsibilities that a business has towards society, beyond its economic objectives. These can include ethical and environmental considerations, as well as providing fair employment practices and contributing to the community in which it operates. By fulfilling these broader responsibilities, a business can earn and maintain the support of its stakeholders, including customers, employees, investors, and the wider community.

The Broad Duties of a Business That Are Needed to Obtain