In this paper, I have applied a “back to basics” concept to specify the role & responsibilities of business Organization for social well being. Three “basics” things comprise this concept. First principal of business is Morality for not harming others on the cost of own business profit; business managers have to ensure this responsibility while operating business affairs. The second principle is portraying the role of business in the society by taking account of values of the contemporary society & reflection of the business or economic activity i.e. markets and firms. The third one is having basic institutions that should restrict undesirable business activities. The purpose is to develop a framework for managerial decision making that could respects the fact of value of pluralism in a current global economy to foster meaningful criticism of current business practices while remaining sufficiently grounded in contemporary circumstances so as to be relevant for managers. I have also given focus on managerial role & model code of Business Conduct & Ethics for society.

KEYWORDS: Business Organization, Society Well Being, Ethics, Harm, Managerial Decision Making.