Essay on Corporate Malfeasance: Its Affects of Modern Society

2483 Words 10 Pages
Modern Businesses are becoming increasingly powerful. In fact, some businesses have so much influence, that they believe they can act above the law and become over-controlling of certain aspects of people’s lives, such as healthcare (Boylan 289), and computer and military technology, with influences even extending into politics (Brenkert 1). Many Businesses boast to be run by the best moral and ethical standards, yet these businesses are still being faced with legal suits against them. The argument that is made by these companies is that they did whatever it was that they did, in order to bring about some other ‘good’. I believe that these types of businesses should be better policed on upholding their own ethical policies that …show more content…
How does this affect the consumer? Poor working conditions could be the cause of a poorly crafted product or a defective product. If these products are sold in the market, the consumer may be at risk, health or otherwise. This is also intolerable conduct. When consumers buy a product, they trust that the company’s product was created or manufactured in a safe and fair manner. In modern society, there are more and more calls for corporate responsibility; “… [Companies] are being exhorted to provide their employees with safe working conditions, to produce safe products, and to market their goods in a responsible manner” (Brenkert 2). Business organizations and other associations are trying to develop some universal standards for a code of business ethics.

There are also instances of internal illegal and unethical activity within corporations. These types of activities might include executives squandering corporate assets for personal use, failure to report significant factors to shareholders, or ‘beefing-up’ reports to the public so the company doesn’t look quite as bad as it is. This does not affect consumers in the same direct way as stated before. When numbers are being tampered with and insider trading occurs, these executives are gaining unfair knowledge of the marketplace, and have an unfair advantage to make profit. This leaves all the shareholders, employees and consumers with stock ‘high and dry’. For example, say ‘Company A’ is on the
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