The 'social contract' (or community licence to operate)is considered to be an implied contract constituted by the expectations that society holds about the conduct of an organisation.

Question

Quizplus · Accepted Answer

The statement is true. The social contract is an unwritten agreement between an organization and society that defines the ethical and social responsibilities of the organization towards the community in which it operates. It is an implied contract because it is not legally binding but is rather based on the societal expectations of corporate behavior.

The 'Social Contract' (Or Community Licence to Operate)is Considered to Be