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to this theory is the divergent interest of stakeholders which led to the problem in solving conflicts that arise between different stakeholders (Burton & Dunn, 1996, p. 133-147). While solving these conflicts different theories where proposed by different theorists like the Feminist Ethics, the Common Good Theory, the Integrative Social Contracts Theory and many more.

The Integrative Social Contracts Theory
This theory was initially developed by Thomas Donaldson and Thomas Dunfee. This is a contextual approach that lies in domain of Business ethics. This theory was published in two articles in the year 1994-95. Within just ten years, this theory became an integrated part of specialised decision making theory. The book called Ties That Binds, published in 1999 by the originator of this theory contains all the detailed description regarding the theory. This theory is based on hypothetical social contracts (Dunfee, 2006, p. 1-3). The author of this theory tried to prove that world is rational a knowledgeable, the human knowledge is bounded and economical activities are compatible with divergent culture, regional attitude and philosophy. These factors lead to formation of micro-social contracts which are affected by ethical issues. These contracts are the foundation of community's existing culture, philosophy and values related to religion. Frame work of the theory provides foundation for ethical decision making process. These micro social contracts need consideration and tolerance in norms and value that leads to ethical decision making process. The first set for making ethical decision making requires identification of stakeholders. Later on the micro contracts have to be identified which are based on implicit agreement. Identification of the norms that exist in the society is very important. It should be identified that these norms are legitimate and these norms assists in decision making process. For verification of a norm that whether it is legitimate or not, it has to be compared against the hyper norm. These hyper norms are ideal norms. This theory plays vital role in exploring ethical problem and then for searching an appropriate alternative solution (Lucas, 2001, p. 414-421). It can b concluded that this theory provides guidance to managers for making decision on basis of ethical ground. Soon this theory got criticised by many researches. They raised different questions related to this theory related to nature and value; practicality of the theory which assists managers for making vital ethical decisions; theory's robustness and many more. Few asked for reform in hyper norms so that hey can play vital role in decision making process (Hartman et al.,

2003). Need for modification in hyper norms was required as it was not clear that where they can be identified for solving a real problem, are they justifiable as per social contract, and it was also questionable that are these hyper contact are necessary at all? After a great degree of research, it was conclude that hyper norms are highly hypothetical and they cannot be determined. But this theory was applied to wide range of ethical issues including gender discrimination, privacy and direct marketing, marketing of family planning in Bangladesh, bank's marketing of credit cards to college students and more (Dunfee, 2006, p. 11).

Development of Corporate Social Responsibility
The history of Corporate Social Responsibility is