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02 Video 1 The History of Corporation

The document discusses the history of corporate social responsibility and regulation of corporations. It notes that while the law requires corporations to prioritize shareholder interests over social responsibility, it does not explicitly prohibit social responsibility spending if it does not reduce profits. Additionally, early corporations were established by governments to pursue objectives that benefited the nation, but were limited in scope and duration, unlike modern limitless corporations that no longer feel responsible to the public interest.

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Abegail Maupoy
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350 views1 page

02 Video 1 The History of Corporation

The document discusses the history of corporate social responsibility and regulation of corporations. It notes that while the law requires corporations to prioritize shareholder interests over social responsibility, it does not explicitly prohibit social responsibility spending if it does not reduce profits. Additionally, early corporations were established by governments to pursue objectives that benefited the nation, but were limited in scope and duration, unlike modern limitless corporations that no longer feel responsible to the public interest.

Uploaded by

Abegail Maupoy
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Maupoy, Abegail G.

BSHM704

The History of Corporation

“The law requires corporation to “prioritize the interests of their companies and
shareholders above all other and forbid them from being socially responsible – at least
genuinely so” (Bakan, 2004, p.35).”
To ensure the loyalty of the companies and shareholders, the law forbids them
from spending any money or reducing profits by being socially responsible. By doing so,
companies and shareholders would get a guaranteed financial support and they will also
make a profit out of it.
It does not prohibit them from being socially responsible, but it has been clarify as
prohibiting them from spending any money or profits by being socially responsible which
results to being the same thing.
“Issues relating to corporate social responsibilities are not new and the history of the
corporation includes a cycle of regulation and corporate response.”
As I understand the statement, corporations were designed as a bounded liability
enterprise that allowed private businesses to pursue objectives that the government thought
was in the absorption. For the reason of government allowing these early corporations to
scope interest of the nation. The main essential to the newly-founded corporation was that it
was narrow in terms of the liability-basically that means the owners of the company could
not be held responsible for unexpected damages that they did.
It was bounded in terms of the time that the engagement was forced. So, the
corporation could pursue its goals for 5 to 10 years depending, but after that, it needed to
apply for a new engagement.
The contemporary corporation which has limitless amount of time to pursue what it wants
and doesn't feel that it is any longer responsible to the nation which engaged to the
something that has become horrible.
The reality that we give the corporation the comparable philosophical position as a
personhood and allow them to spend their extensive pocket funds to sway political opinions
is absolutely not in the public enjoyment.

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