Which of the following statements is true of the social contract approach to corporate management?

Multiple Choice

• The primary focus of the old social contract laid emphasis on equal advancement in the quality of life and economic growth.

• The modern social contract approach argues that there is an obligation for the corporation to meet the demands of society rather than just the demands of a targeted group of customers.

• The consequences of the modern social contract approach to corporate management is growth at the expense of rising costs, wages growing at a lower rate than inflation, and so on.

• The main focus of the old social contract was to maintain a longer-term perspective than just the delivery of quarterly earnings numbers.