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Essay Topic >>
The desire of corporations to maximize profits creates conflict with the general welfare of the nation at large. "
Discuss the extent to which you agree or disagree with the opinion stated above. Support your views with reasons and/or examples from your own experience, observations or reading.
Essay >>
Profits are the life line of companies as companies thrive on profits they earn. Earning profit is one of the main objectives of corporations. If a company starts earning less or no profits then its main objective might get hindered. As a result, they start employing techniques which engender more profits for them. This might make companies act against the common welfare of the public.
It is possible that the company starts degrading the quality of its product in order to maximize its profit. for example, a lot of companies use artificial flavours in their drinks so that they are saved from the cost of using natural flavours, thus increasing profit. But they tend to ignore the fact that these flavours could prove to be harmful for the citizens of the nation.
Also, another step that the corporation might take is restructuring the employees. This leads to unemployment and this is a very egregious move on the part of the corporations. For example, like we have seen that the company TCS restructured its employees and let go of highly paid employees of its own. These employees had been working for the company for more than 10 years. This lifted the trust of the employees from the company and from themselves and some of them might even start doubting themselves. And it also lead to unemployment.
Another fact is that the companies dispose off their waste in an unethical and irresponsible way. They do so because disposing their waste in an environment-friendly manner tends to increase their expenditure. This leads to harmful effects on the environment. For example, various cement and brick manufacturing companies dispose off the harmful chemicals into the air which leads to air pollution.
No doubt, earning profits is the backbone of any company and the corporation might have to face a shut down if it does not generate profits. But generating profits in unethical ways is not the solution. The government can step in by investing into the companies which produce goods with high quality. And thier should be proper check that no corporations earn profits at the expense of the health of common man.
Thus, it is important to keep a check on the companies as it is possible and has been seen in the past that companies and business houses tend to maximize their profits by manipulating their way of functioning. Thus may conflict with the welfare of the nation at large.