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Integrative Social Contracts Theory.

Corporations enhance the Welfare of Society through the Satisfaction of Consumers and interest of Workers by
Leveraging Corporations Special Advantages. This is the Moral Foundation of the Corporation.

The Social Contract also serves as a Tool to measure the Performance of Productive Organizations.

When such Organizations fulfill the terms of the Social Contract, they are Morally justified. When they do not,
they should be condemned.

Hyper Norms are Universal and impose certain conditions on all Business Activity.

The Macro-Social Contract functions at Global Level, provided specific conditions under which Micro-Social
Contracts may be developed.

Micro Social Contracts are Community Contracts developed to guide Business Activity.
The Essentials of Social Contracts theory are shown below:
Hyper Norms. Universal.

1. Personal Freedom.
2. Physical Security.
3. Political Participation.
4. Informed Consent.
5. Ownership of Property.
6. Right of Subsistence.
7. Equal Dignity to All Humans.
Macro Social Contract.
Globally Based.

1. Moral Free Space.


2. Free Consent with Right to Exist.
3. Compatible with Hyper Norms.
4. Priority Levels.
Micro Social Contract. Community Based.

Individual Norms:

1. Do Not Lie In Negotiations.


2. Honor All Contracts.
3. Give Job Preference To Natives.
4. Give Preference To Local Suppliers.
5. Provide A Safe Work Place.
Hyper Norms are Universal Norms that are equally applicable to all persons Worldwide. Hyper Norms provide the Basis
for evaluating all other Norms.
They stand for the Basic Principles that are Fundamental to Human Existence: Example- Human Rights,
Ownership of Property, Right to Live etc.

2) Justice Principles:

Justice is associated with issues of Rights, Fairness, and Equality. A Just Act respects your Rights. A Just Act
treats you Fairly.

Principles of Justice may be divided into Three Types- Distributive- Justice, Retributive Justice, and
Compensatory Justice.

1) Distributive Justice: Society has many benefits like Income, Wealth, Jobs, Education, Leisure, etc and burdens
like Work, Taxes, Social and Civil Obligations, which can be allocated based on a) Equal Share to Each Person b)
Based on Need c) Based on Effort d) Based on Merit e) Based on Social Contribution.
2) Retributive Justice: Retributive Justice is concerned with Punishment for Wrong Doing. The severity of
Punishment should be in proportion to the magnitude of the Crime.
3) Compensatory Justice: Compensatory Justice is concerned with compensating the Party Injured by the Wrongful
Act. This includes necessary Medical Treatment and Services and Goods that are needed to Rectify the Injury.

The Global Business Standards Codex (The GBS Codex).

For Companies that want to assess their Code Of Conduct or Craft a New One, Professors in Harvard University,
Boston, USA offer the Global Business Standards Codex, a round up of widely endorsed Conduct Guidelines for
Companies around the World.

They have arranged the Standards according to Eight underlying Ethical Principles:

1.
2.
3.
4.
5.
6.
7.
8.

Fiduciary Principle.
Property Principle.
Reliability Principle.
Transparency Principle.
Dignity Principle.
Fairness Principle.
Citizenship Principle.
Responsiveness Principle.

1) Fiduciary Principle:

Act as a Fiduciary for the Company and its Investors.

Carry out the Companys Business in a Diligent and Loyal manner.

2) Property Principle:

Respect Property and the Rights of those who own it.

Refrain from Theft and Misappropriation, avoid waste, and safeguard the Property entrusted to you.

3) Reliability Principle:

Honor Commitments.

Be faithful to your word and follow through on Promises, Agreements, and other Voluntary Undertakings,
whether embodied in Legally Enforceable Contracts or not.

4) Transparency Principle:

Conduct Business in a Truthful and Open manner. Refrain from Deceptive Acts and Practices, Keep Accurate
Records, and make timely disclosures of material information, while respecting Obligations of Confidentiality &
Privacy.

5) Dignity Principle:

Respect the Dignity of all People.

Protect the Health, Safety, Privacy, and Human Rights of others.

Refrain from Coercion and Adopt Practices that Enhance Human Development in the Work Place, Market Place
and the Community.

6) Fairness Principle:

Engage in Free and Fair Competition, deal with all parties Fairly and Equitably, and Practice Nondiscrimination
in Employment and Contracting.

7) Citizenship Principle:

Act as Responsible Citizens of the Community. Respect the Law, Protect Public Goods, Co-Operate with Public
Authorities, avoid Improper Involvement in Politics and Government and Contribute to Community Betterment.

8) Responsiveness Principle:

Engage with parties who may have Legitimate Claims and Concerns relating to the Companys Activities, and be
Responsive to Public Needs while Recognizing the Governments Role and the Jurisdiction in Protecting the
Public Interest.