Clarence C. Walton has suggested the following models of business conduct.
- The Austre Model: In this model a business firm exclusively emphasizes owners ’ interest and profit motive. Such a business is always cost-conscious in every activity. This is a conservative outlook.
- The Household Model: The firm adopting this model employs a paternalistic approach with its employees. It is analogous to a family or household wherein the genuine needs of family members are provided for.
- The Vender Model: In this model, the interests and rights of customers are given top priority. Consumer satisfaction is considered of supreme importance.
- The Investment Model: This model focuses on the long-term profits and survival of the enterprise. Social investment is given recognition along with economic investments.
- The Civic Model: This model makes a positive commitment to social needs its slogan is corporate citizenship and social responsibility is accepted.
- The Artistic Model : In this model the enterprise is encouraged to become a creative instrument for serving the cause of civilization and improving the quantity of life. Creative ideas are generated and used for this purpose.