“There is one and only one responsibility of business: to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game.” Milton Friedman

The game rules had changed since 1980 from an active government policy approach to control corporations, protect communities to a laissez-faire approach shaped by its reaction to the downturn of the economy and bending to a management principle of value-based management or managing for value. The concept of the social contract between business and society declared by the Committee for Economic Development in 1971, rooted in the famous Plato dialogue, The Republic, began to subside to corporations' power. It argues that government intervention imposes high costs on private industries, which has slowed down the growth of productivity and hampered companies' abilities to compete in international markets. Many believe that the loss of competitiveness leads to declining exports, increasing imports, and a long-term manufacturing capacity movement from the United States to other countries globally, particularly in pollution-intensive industries. As a consequence of globalization, MNCs operate transnationally in a globalized economy. The proliferation of private regulations has enabled corporations to elude domestic systems; nether international law helps governance as non-state actors lie outside its legal jurisdiction. The concept of Good Corporate Citizen is drawing both the corporation and academic world to strive to develop a transformational corporate governance structure of laws that would foster sustainable economic development that centers on protecting stakeholders' interests. I shall follow what many prominent academics have concluded and suggested in their academic papers that the existing corporate governance structure based on self-regulation and the current legal protection for stakeholders is ineffective to achieve their desired objectives. I firmly believe that the most important and effective means to strengthen corporate governance are to increase transparency and accountability by numeric measurement. What gets measured gets done, and the appeal of indicators lies in their ability to translate social phenomena into a numerical representation that is transparent, easy to understand, and comparable across actors. The question is how we can measure return and impact from the social investment? This room is opened to all who want an answer.
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