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This 4 page paper looks at how and why corporations have risen to power, the role of corporations and the challenges that they face in the future as their role, the market and the general environment change. The bibliography cites 4 sources.
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4 pages (~225 words per page)
File: TS14_TErisecorp21.rtf
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held power as employers as well as key players in an economy. The rise of the corporation may be attributed to a number of factors, including the way in which
modern consumerist economies have developed and rely on firms, as well as their access to resources, including inputs as well as resources such as lobbyists, marketing strategies and a willingness
to leverage economic power (Nace, 2003). The rise of the corporation can be traced back historically through the development of guilds and
then emerges in a format similar to those seen today during the industrial revolution, where there was a focus on increasing efficacy and profit by the new industrialists. Corporations were
able to employ large numbers of employees, giving them an important role in the community. However, despite this role their main function was to make a profit for the owners,
many times with little consideration for issues such as employee welfare or environmental issues. The early corporation were aligned with the later ideas of Friedman, who states the role of
the corporation is to satisfy its primary stakeholders, who are the owners or shareholders, by increasing profit. Milton Friedman was a capitalist and an unwavering supporter of Laissez faire capitalism
that is freedom from intervention of any sort save that of force in the preservation of freedom (Chryssides et al, 1999). It may be argued that this approach was
one where business was broadly unregulated and allowed to increase in size and power. Strategies followed by corporation have been guided by the desire to increase sales and profits, this
is true from the reason why Ford adopted the scientific management model to the reasons why firms such as McDonalds use Disney toys in their happy meals. Even apparent altruistic
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