The document outlines the obligations and responsibilities of corporations to their employees, customers, and managerial staff. For employees, corporations should ensure fair employment practices and an empowering, inclusive work environment. With customers, the focus is on quality products and services at affordable prices to ensure satisfaction. Managerial obligations include protecting company assets, ethical government interactions, and addressing issues raised by agency theory such as agency costs through solutions like transparent financial disclosures and an independent board of directors.

1. Obligations or responsibilities of
corporates

2. Obligations or responsibilities to
EMPLOYEES
1. Fair employment practises
2. Equal opportunities employer
3. Encouraging whistle blowing
4. Humane treatment
5. Empowerment
6. Equity and inclusiveness
7. Participation
8. Collaborative environment

3. Obligations or responsibilities to
customers
1. Quality of products and services
2. Products at affordable prices
3. Unwavering commitment to customer
satisfaction

4. Managerial obligations
1. Protecting company’s assets
2. Behaviour towards government agencies
3. Control
4. Consensus oriented
5. Gifts and donations
6. Role and responsibilities of corporate board and
directors
7. Direction and management must be
distinguished
8. Managing and whole-time directors

5. Agency theory
 Agents
 Agency problem
 Agency costs
 Agency loss

6. Problems with agency theory….
solutions
1. Fair and accurate financial disclosures
2. Efficient and independent board of directors
Some suggestion to overcome the agency
problem.