The value of a business to society is the wealth and employment it creates and the marketable products and practices it provides to consumers at a reasonable price commensurate with quality. To create such value, a business must maintain its own economic health and viability, but survival is not a sufficient goal.
Businesses have a role to play in improving the lives of all their customers, employees, and shareholders by sharing with them the wealth they have created. Suppliers and competitors as well should expect businesses to honor their obligations in a spirit of honesty and fairness As responsible citizens of the local, national, regional, and global communities in which they operate, businesses share a part in shaping the future of those communities.
Businesses established in foreign countries to develop, produce or sell should also contribute to the social advancement of those countries by creating productive employment and helping to raise the purchasing power of their citizens. Businesses also should contribute to human rights, education, welfare, and vitalization of the countries in which they operate. Businesses should contribute to economic and social development not only in the countries in which they operate, but also in the world community at large, through effective and prudent use of resources, free and fair competition and emphasis upon innovation in technology, production methods, marketing and communications.
While accepting the legitimacy of trade secrets, businesses should, recognize that sincerity, keeping of promises and transparency contribute not only to their own credibility and stability but also to the smoothness and efficiency of business transactions, particularly on the international level.
To avoid trade frictions and to promote freer trade, equal conditions for competition, and fair and equitable treatment for all participants, businesses should respect international and domestic rules. In addition, they should recognize that some behavior although legal, may still have adverse consequences.
Businesses should support the multilateral trade systems of the (GATT/World Trade Organization and similar international agreements. They should cooperate in efforts to promote the progressive and judicious liberalization of trade, and to relax those domestic measures that unreasonably bin der global commerce, while giving due respect to national policy objectives.
A business should protect and, where possible, improve the environment, promote sustainable development, and prevent the west for use of natural resources.
A business should not participate in at condone bribery, money laundering, or other corrupt practices: indeed, it should seek cooperation with others to eliminate them. It should not trade in arms or other materials used for terrorist activities, drug traffic or other organized crime.