A corporation is a company or companies identified as a single entity. Corporations affect societies in a way that it may improve or hinder developments. Corporations may intensively seek profits, and merge to form super corporations. When corporations become large, they tend to become greedy for more money and can do anything for money. These big corporations would rather take the risk to gain more at cost of quality of products, health, and environment of the society. Corporations are also known to be used by the rich people in the society to influence politics and hence leadership in a society. With power on their hands, they are able to implement policies which favor their interests. As a result, the rich continue benefiting whereas the people from lower class are disadvantaged, such corporations have aided in creating a high level of inequality. (Higgins, 2010)
However, corporations have positive effects on the society since they provide high-quality goods and services at reduced costs; they also increase market share and sales. Others corporations care for the welfare of members of the society by providing medical and agricultural remedies to problems that largely affect the society. Corporations have the ability to draw, keep and motivate employees and appeal more to investors. (Epstein & Buhovac, 2014)
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Corporations have aided in developments and modernization which if it were not for the case, we would still be in Stone Age era. The products we purchase on daily basis are provided by corporations. These corporations are incorporated into small businesses, and given that small businesses are good for the society. (Cowen et al., 1987)Corporations prove to show more good than harm to the society. Only a few big corporations pose threat to right standing in the society.
References
Epstein, M. J., & Buhovac, A. R. (2014). Making sustainability work: Best practices in managing and measuring corporate social, environmental, and economic impacts . Berrett-Koehler Publishers.
O’Higgins, E. R. (2010). Corporations, civil society, and stakeholders: An organizational conceptualization. Journal of Business Ethics , 94 (2), 157-176.
Cowen, S. S., Ferreri, L. B., & Parker, L. D. (1987). The impact of corporate characteristics on social responsibility disclosure: A typology and frequency-based analysis. Accounting, Organizations and society , 12 (2), 111-122.
