Ackoff briefly characterizes the social function of a corporation early in this talk: 2005-02-28 An Afternoon With Russell Ackoff - Part 2 youtube 
https://www.youtube-nocookie.com/embed/Rz6Ifs190no?rel=0&start=162&end=270 HEIGHT 300 Ackoff sets out the social function of a corporation starting at 2m42s
Well first let's look at the ethical question. Remember I said that a system is defined by its function and the larger system of which it's a part.
What's the function of a corporation? Well you have to talk about what's its role in society?
Two roles: to produce and distribute wealth. That's what a corporation does.
It is the only known way to man of simultaneously producing and distributing wealth. Every other way of distributing wealth consumes it.
By constructive, by productive employment, we produce wealth as well as distribute it.
Now, how do we distribute wealth?
Well you put products out. You pay dividends. You pay interest on loans.
But what do you think is the major way that any corporation distributes wealth?
Employment. It's compensation for labor.
Therefore, in order to perform a social function, it must maintain or increase employment.
Downsizing is immoral.
Now, I've had executive after executive say to me "What the hell are you talking about? I've got 15,000 extra people. What do you expect me to do? Keep them on payroll and go bankrupt?"
Of course not.
But I do expect them to do something they don't ever do. And you say "What's that?"
And I say "think."
I'll give you example after example of executives confronted with the problem of extra people who didn't have to lay them off because they took seriously their social responsibility of maintaining or increasing employment.