What is externalize? How is externalize related to CSR? What is a social contract? Explain social contract in the context of Legitimacy Theory. Compare and contrast between Legitimacy theory and Stakeholder theory. How can a business entity minimize the risk of breaching its social contract? What measures a business entity can take after it is found to have breached its social contract? Explain Institutional theory and the various processes of isomorphism. How is CSR reporting potentially related to firm performance?