The basic agreement between a business and its society that defines the broad duties of the business that are needed to retain the support of society is called a(n)_______.

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The term "social contract" refers to the unwritten agreement between a business and society, outlining the responsibilities of the business to maintain support from the larger community. This can include obligations around ethics, environmental responsibility, fair labor practices, and other key factors that impact the public's perception of the organization. Businesses that uphold their social contract are often viewed as socially responsible and contribute positively to their communities, whereas those that breach this contract may face backlash and criticism.

The Basic Agreement Between a Business and Its Society That