ABSTRACT
In the past few years Americans have witnessed an increased concern with the noneconomic aspects of their society. At the national level, there is a reexamination of the nation’s goals for economic performance and growth. The emphasis has shifted to the allocation of resources for solving social problems and achieving social goals. 1 This concern is not restricted to the federal government but focuses upon all institutions including business. The Committee for Economic Development stated it succinctly.
Today it is clear that the terms of the contract between society and business are, in fact, changing in substantial and important ways. Business is being asked to assume broader responsibilities to society than ever before and to serve a wider range of human values. Business enterprises, in effect, are being asked to contribute more to the quality of American life than just supplying quantities of goods and services. In as much as business exists to serve society, its future will depend on the quality of management’s response to the changing expectations of the public. 2
