Economic Responsibilities. The business enterprise is first and foremost an economic
institution. Investors expect an adequate return for their risk capital. Creditors expect the
firm to repay its debts. Consumers expect safe products and services at appropriate prices
and quality. Suppliers expect to be paid in full and on time. Governments expect the firm
to pay taxes and to manage natural resources such as air and water under a decent stewardship.
To accomplish all this, firms must obey the law and act ethically in their quest to gain
and sustain competitive advantage.