Ryan Jay Robiso

BSIT BLOCK C
THE CONTEMPORARY WORLD

Explain the following statements:

1. 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).

 What I have understood from the statements above is that corporations are special
kinds of persons for example, who have no moral conscience. They are designed by law
to be concerned only for their stockholders. The individuals participating in
[corporations] may be the nicest guys you can imagine, but in their institutional role,
they are monsters because the institution is monstrous. There is no organization on this
planet that can neglect its economic foundation, even someone living under a barong-
barong.

2. Issues relating to corporate social responsibilities are not new and the history of the
corporation includes a cycle of regulation and corporate response.

 The statements above indicate that corporate social responsibilities have existed for a
long time and that the cycle of regulations and corporate responses has evolved through
time. There's a lot of trial and error involved, and it may have a huge effect on our
society, and also the life of our nature. Waves of corporate governance reform and
increased regulation occur during periods of recession, corporate collapse, and re-
examination of the viability of regulatory systems.