The modern social contract approach argues that since a corporation depends on society for its existence and continued growth,there is an obligation for that corporation to meet the demands of society rather than the demands of a targeted group of customers only.

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The modern social contract approach emphasizes the responsibility of corporations towards society as a whole and not just towards a particular group of customers. Hence, it argues that corporations have an obligation to meet the demands of society.

The Modern Social Contract Approach Argues That Since a Corporation