Clearly, a company has a responsibility to make a profit and grow the business—in capitalistic, or market, economies, management's fiduciary duty to create value for shareholders is not a matter for serious debate. Just as clearly, a company and its personnel also have a duty to obey the law and play by the rules of fair competition. But does a company have a duty to operate according to the ethical norms of the societies in which it operates—should it be held to some standard of ethical conduct? And does it have a duty or obligation to contribute to the betterment of society independent of the needs and preferences of the customers it serves? Should a company display a social conscience and devote a portion of its resources to bettering society?

The focus of this chapter is to examine what link, if any, there should be between a company's efforts to craft and execute a winning strategy and its duties to (1) conduct its activities ethically and (2) demonstrate socially responsible behavior by being a committed corporate citizen and directing corporate resources to the betterment of employees, the communities in which it operates, and society as a whole.