The paper "Are Corporations Too Powerful and Presenting as a Threat to Global Economies, Civil Societies and the Environment" is an outstanding example of business coursework. Corporations have become very powerful and influential in society. Presently, big multinational companies have acquired a lot of power that they use to influence the economic, social and environmental aspects of the society. However, there has been a growing concern that, as the transnational businesses become more powerful, this threatens the global economies, civil societies and the environment. The report has demonstrated the extent to which corporations have been using their power to cause harm to the global economies, civil societies and the environment under the watch of government agencies.
It emerged from the analysis that these corporations are well-connected to the powerful political elites whom they bankroll that they use as protection against any move made against them by the civil societies and the public. However, the government needs to rain on the corporations to ensure that they do not use their powers to cause harm to the global economies, civil societies and the environment for the betterment of the future generation. Introduction Companies play a critical role in the development of a country is it politically, socially and economically.
Most countries that have developed have been able to achieve such developments largely because of the growth of businesses. However, Sciulli (2001, p. 7) notes that the global economies, civil societies and the environment have become under increased threats from corporations. The activities of some powerful corporations have adversely affected the global economies by triggering a global financial crisis that the world has experienced in the past and are still exposed to even today (Grant 1998, p.
37). In many countries, civil societies have become under increased target by unscrupulous powerful corporations whenever they are criticized by civil societies. At the same time, the environment has also become under increased threat from unscrupulous businesses that pollute the environment, thus causing serious environmental degradation. Unfortunately, Campbell (2015) argues that these corporations are presenting a threat to the global economies, civil societies and the environment under the watch of governments and law enforcement agencies that are expected to provide protection.
The aim of this paper is to explore the extent to which corporations have become too powerful and presented as a threat to global economies, civil societies and the environment using case studies. Corporations as a Threat to Global Economies The economies of most countries have experienced remarkable growth in the past few decades. Quite a number of countries that were once classified as poor countries have moved up the ladder and are currently ranked as middle-income, industrialized or developed economies. The growth of the economies has been fueled by corporations that have a huge influence on the global economies (Grant 1998, p.
37). The growth of these businesses results in the growth of local economies that in turn results in the growth of the global economies. Nevertheless, corporations have become a threat to global economies. World economies have been under an increased threat of experiencing economic downturn because of the activities of corporations. The concept of corporate social responsibility requires that a company promotes not just the interest of its stakeholders by maximizing wealth, but also the economic, social and environmental wellbeing (Mohr et al.
2001, p. 45). Friedman states that the corporate social responsibility of a company is to maximize wealth for the shareholders to promoting even the economic, social and environmental sustainability (Friedman 1990, p. 14). Unfortunately, the actions of some corporations in the recent past show that companies are too powerful and present a threat to the global economies. Many corporations have engaged in corporate frauds in the recent past that have had adverse effects on the global economies. In the 2000s, quite a number of American companies engaged in corporate scandals that aimed at defrauding the companies and their investors.
Among the companies that engaged in corporate scandals included Adelphia, WorldCom and Enron just to name but a few. These scandals badly affected the United States economy and the economies of those countries that depended on the products and services provided by these companies whose operations seized as a result of the fraudulent acts. Evidence has also linked the Great Depression that occurred in the United States in the 1930s to the conflicts of interest and corporate fraud.
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