The Role of Business in Society

1779 Words4 Pages
bulb-icon

Recommended: How business affects society

The problem to be investigated is that of understanding Dr. Novak’s discussions of the role business plays in society. The discussion centers around the topics of understanding the origins of the corporation, understanding the difference between corporations in the United States and Britain, understanding the different definitions of stakeholders, understanding the differences between democracy and social democracy, and understanding the evolving role of business. (Jennings, 2009) Furthermore, viewpoints from Plato, Cicero and Weaver are integrated to add depth to the discussion.

The problem to be investigated is that of understanding Dr. Novak’s discussions of the role business plays in society. The discussion centers around the topics of understanding the origins of the corporation, understanding the difference between corporations in the United States and Britain, understanding the different definitions of stakeholders, understanding the differences between democracy and social democracy, and understanding the evolving role of business. (Jennings, 2009) Furthermore, viewpoints from Plato, Cicero and Weaver are integrated to add depth to the discussion.

Origins of the Corporation

Corporations began in the early middle ages through humbled societies and later developed as monasteries, towns, and universities. These corporations were exclusive and closely controlled by the state. In America in 1636, Harvard University began as a corporation. (Jennings, 2009) This was much to the dismay of those located across the Atlantic, as US citizens’ desired independence from royal charters and wanted to create corporations to meet their needs. By 1750, the American colonies had six universities, while England stil...

... middle of paper ...

...fferent times to the needs of its creators. (Jennings, 2009)

Conclusion

Dr. Novak has strong and well thought out viewpoints of the role of the corporation in society. His belief is that the corporation in the United States is a stronger and better society because of its ability to provide rewards to stakeholders rather than society as a whole. Dr. Novak further adds to his argument that by understanding the differences between corporations and between stakeholders in the United States and Britain he can identify the motivations and strengths of corporations. (Jennings, 2009) Novak’s beliefs can be further supported by others on the topic including: Plato, Cicero, Aristotle (Henderson et al, 2009) and Weaver. (Weaver 2008) Dr. Novak also includes a discussion with the understanding the evolving role of business. (Jennings, 2009)

Show More
Related

  • Capitalism And Capitalism Essay

    1251 Words  | 3 Pages

    Every business can operate because of five essential parts; Product creation, Marketing, Sales, Finance, and Delivery of your Product. Throughout this essay we will be juxtaposing the different aspects of the parts above and showing how each of them relate to capitalism and communism and how each of the essential parts can be shown differently through both capitalism and communism. Business varies extremely when in different environments and these two environments are drastically different and the most different environments that are possible. This essay will help understand how drastic the differences really are between the two markets.

    Read More

  • Portion of Capitalism: Dead Peasants Life Insurance

    903 Words  | 2 Pages

    Michael Moore’s film of Capitalism: A Love Story is an examination on how much of a financial impact that corporation has on the lives of Americans. Capitalism seems to emulate a love affair gone wrong, with lies, abuse and betrayal towards the American people. Moore moves the film from Middle America, to the halls of power in Washington, to the global financial epicenter in Manhattan in order to answer the question of what price do Americans pay for the affection of capitalism. There is irony in the title of this film because there is certainly nothing to love about capitalism when families have to pay the price with losing their jobs, their homes and their savings as a result of the risky investments that the rich and powerful have at their disposal. With more than 14,000 jobs being lost, residents being evicted from their homes and banks stealing away families’ savings, one must wonder if there is an upside to capitalism at all. True democracy is the biggest threat to corporate America because of the one person one vote system. In order for this to take place, the growing number of people would have to come together and expose capitalism for what it truly is, a corrupt and greedy system for the wealthy.

    Read More

  • Reactionary Essay To If Aristotle Ran General Motors, By Tom Morris

    1257 Words  | 3 Pages

    ...d ultimately helps to create a root system that digs deep into the soil of commerce. It places that organization on a firm foundation of good management principles and exhibits the true spirit of greatness that has been lacking in the corporate world for a long time. And I am firmly convinced that until American business leaders toss aside situation ethics and replace them with good old-fashioned morality, our nation will continue to slide down the proverbial rabbit hole into obscurity and decay. Until corporate America, and indeed the entire global corporate world, embraces this concept and operates upon its principles, we will not see any sort of economic revival until Jesus comes.

    Read More

  • Conscious Capitalism In John Mackey's Whole Foods Market

    2764 Words  | 6 Pages

    The terms “conscious” and “capitalism” are seldom used together; however, John Mackey, the Co-CEO of Whole Foods Market, has started a movement known as Conscious Capitalism that has the power to change the way businesses operate. For years, many vilify businesses due to their reputation of merciless methods of earning profits. In fact, the Merriam Webster dictionary defines capitalism as, “an economic and political system in which a country’s trade and industry are controlled by private owners for profit”. Mackey introduces a new concept and meaning for businesses in his book Conscious Capitalism: Liberating the Heroic Spirit of Business stating that there is a higher purpose for companies than generating profit. Higher purpose, conscious leadership, conscious culture, and stakeholder orientation are the four key tenants of practice to becoming a conscious capitalist company. After attending the trips on the Dallas Study Tour, I was able to witness how various companies operated and how their cultures were aligned with conscious capitalism.

    Read More

  • The 1787 Constitutional Convention

    1940 Words  | 4 Pages

    Jennings, Marianne M. Business: Its Legal, Ethical, and Global Environment. Mason, Ohio: Cengage Learning, 2008. Print.

    Read More

  • Alan Trachtenberg's Incorporation Of America

    711 Words  | 2 Pages

    Alan Trachtenberg’s theme of Incorporation of America is to study the “effects of the corporate system on culture, on values and outlooks, on the way of life” By “the incorporation of America”, he means, “the emergence of a change, more tightly structured society with new hierarchies of control, and also changed conceptions of the society, of America itself.” He contends that America experienced cultural and social changes due to the growth of industrialization and urbanization following the Civil War, arguing that corporations were the dominated reason for social change.

    Read More

  • Analysis About the Phenomenon of Racial and Gender Discrimination

    1011 Words  | 3 Pages

    Deal, J. T., & Kennedy, A. A. (1992). Corporate cultures: The rites and rituals of corporate life. Reading, MA: Addison- Wesley.

    Read More

  • Political Analysis of an Organization

    1883 Words  | 4 Pages

    The political analysis of an organization begins with the identification of the stakeholders “groups that have a shared ‘stake’ that is affected by what the organization is and how it carries out its activities (Ancona et al., 2005: M-2, 35)” The CEO of Dynacorp is ultimately responsible for the turnaround of the company and its success versus its competition. The front end of the company is divided into three geographic areas. Carl Greystone, Executive Vice President of US Customer Operations, manages the largest of the geographic areas (Dynacorp Revisited, 2005: M-2, 86-87). The geographic areas are divided further into regions; Ben Walker is a Vice President overseeing the Northeast Region and reports to Greystone (Dynacorp Revisited, 2005: M-2, 87).

    Read More

  • Why Corporations Are Bad for America

    862 Words  | 2 Pages

    A corporation was originally designed to allow for the forming of a group to get a single project done, after which it would be disbanded. At the end of the Civil War, the 14th amendment was passed in order to protect the rights of former slaves. At this point, corporate lawyers worked to define a corporation as a “person,” granting them the right to life, liberty and property. Ever since this distinction was made, corporations have become bigger and bigger, controlling many aspects of the economy and the lives of Americans. Corporations are not good for America because they outsource jobs, they lie and deceive, and they knowingly make and sell products that can harm people and animals, all in order to raise profits.

    Read More

  • Friedman vs Freeman

    1937 Words  | 4 Pages

    This paper will have a detailed discussion on the shareholder theory of Milton Friedman and the stakeholder theory of Edward Freeman. Friedman argued that “neo-classical economic theory suggests that the purpose of the organisations is to make profits in their accountability to themselves and their shareholders and that only by doing so can business contribute to wealth for itself and society at large”. On the other hand, the theory of stakeholder suggests that the managers of an organisation do not only have the duty towards the firm’s shareholders; rather towards the individuals and constituencies who contribute to the company’s wealth, capacity and activities. These individuals or constituencies can be the shareholders, employees, customers, local community and the suppliers (Freeman 1984 pp. 409–421).

    Read More

  • Business Anthropology As A Discipline

    587 Words  | 2 Pages

    Business anthropology is a practice or inquiry within the business field that is based on substantive knowledge or methodology, anthropological epistemology, or a blend of these (Jordan, 89). In the beginning of the twentieth century, as a discipline, business anthropology was reinvigorated and fully supported by the business interests in America to build up as an experientially founded social science that could offer a scientific source for social welfare (Kuklick, 134). To some extent, because of this inspiration, the problem-solving and research interests of the American anthropologists in the business field concentrated predominantly on manufacturing efficiency, and they were formed by the customs and conducts of other disciplines, for instance industrial psychology, by means of the Human Relations school. Moreover, following the Second World War, anthropological exploration of industries turned out to be more intellectually independent and split into more than a few literary streams, together with neo-Marxian methods and industria...

    Read More

  • Compare and Contrast Religion in Two Works

    1859 Words  | 4 Pages

    Ribuffo, L. (1981). Jesus christ as business statesman: bruce barton and the selling of corporate capitalism. American Quarterly, 33(2), 206-231.

    Read More

  • Stakeholders in Airport Decision Making

    1401 Words  | 3 Pages

    Stakeholders are those groups or individual in society that have a direct interest in the performance and activities of business. The main stakeholders are employees, shareholders, customers, suppliers, financiers and the local community. Stakeholders may not hold any formal authority over the organization, but theorists such as Professor Charles Handy believe that a firm’s best long-term interests are served by paying close attention to the needs of each of these stakeholders. The modern view is that a firm has responsibilities to all its stakeholders i.e. everyone with a legitimate interest in the company. These include shareholders, competitors, government, employees, directors, distributors, customers, sub-contractors, pressure groups and local community. Although a company’s directors owes a legal duty to the shareholders, they also have moral responsibilities to other stakeholder group’s objectives in their entirely. As a firm can’t meet all stakeholders’ objectives in their entirety, they have to compromise. A company should try to serve the needs of these groups or individuals, but whilst some needs are common, other needs conflict. By the development of this second runway, the public and stakeholders are affected in one or other way and it can be positive and negative.

    Read More

  • Analysis of the Movie, The Insider

    1442 Words  | 3 Pages

    It seems obvious that large corporations have a tendency to ignore the negative effects of their actions in favor of profit. This example, although sensationalized, still says to me that with power comes responsibility. It affirmed my belief that a corporation’s goal cannot be just to provide profit to shareholders, but there must also be an element of social responsibility.

    Read More

  • Corporations And Social Problems Essay

    1062 Words  | 3 Pages

    Corporations have far more power than most Americans know of. Large and powerful corporations dominate the American economy. Corporations have a lot of power and influence in the government, it’s possible that they have more influence than government. With so much power and control, corporations are involved with many factors of everyday life. Corporations are involved in food, jobs, water and even our healthcare system. With so much power and control comes problems. Corporations cause major issues in all of these areas.

    Read More

More about The Role of Business in Society

Open Document