With a new emphasis on social role of management , the concept of Trusteeship emerged . The Principle of Stewardhip helped to change the views on Social Responsibility of Management ( SRM) , Many groups both inside and outside the firm put their claims and needs . Thus, the job of Corporate Managers was to maintain an Equitable Balance among the competing interest of all groups with a stake in the business . These groups also compelled managers to expand some of the corporate money to meet social needs . Thus , it is expected that there are so many SRM towards , Own , Employees , Shareholders , Suppliers , Customers and Public etc. So we can say that Which is good for an Enterprise , is good for the Whole Nation".
