The guidelines for a student-industry action committee represent an attempt by the authors to reverse the trend of mistrust demonstrated by the American public toward business and industry. Twelve chapter presidents of Delta Sigma Pi, a university business fraternity, met initially with representatives of the National Association of Manufacturers in October 1971. They began developing a joint committee plan for improving understanding between the business community and students through dialogue and interaction in areas of mutual interest and concern. The plan was pilot tested on the students' respective campuses (a list of universities is provided) prior to being offered as a guide for the development of similar programs. Included are suggestions for a first joint meeting, general and specific guidelines for dialogue, topics for dialogue, and possible action projects which might be undertaken to further cooperation of student and business groups and benefit the community. (KH)