Эссе на тему: "Corporate corruption is a social phenomenon"

1) Corporate corruption is a social phenomenon that implies an illegal use of one’s authority for one’s own selfish purposes causing harm to the functioning of a corporation. Let’s analyze it.
The rapid development of different countries can be explained by a positive contribution of corruption that helps the corporations to avoid conflicts and be more flexible. However, it is a direct violation of corporate and criminal laws. Besides, corruption causes much harm to the functioning of the corporation hindering its overall performance. In this regard, it should be noted that corporate corruption is associated with not only economic benefits for a person involved in corruption, but also administrative and political ones. This means that corporate corruption causes damage to different spheres of social life. Thus, there should be taken measures to eliminate it.
Nevertheless, some say that corporate corruption helps to examine the real correlation of supply and demand for the goods and services provided by a given corporation. However, many studies indicate several other negative economic consequences of corporate corruption. First, the resources gained by means of bribes often take a form of property or personal savings kept in foreign banks, which negatively affects the performance of a corporation. Second, the counterproductive projects are financed by ineffective sponsors. Third, corruption hinders the flow of material resources, which are often relocated. Fourth, corruption interferes with the realization of macroeconomic policy. This means that corporate corruption encourages the realization of personal interests, rather than the interests of a corporation. Furthermore, corruption leads to the deformation of the structure of expenditures, so that the strict control of the money flow becomes impossible. Finally, bribes and other forms of corruption result in additional taxation. As a result, corporate corruption hinders the adequate flow of investments, especially investments in foreign businesses.
To sum it I would like to say that despite possible benefits from corporate corruption it must definitely be eliminated for it damages the company’s image and can be of ill consequences for ones involved in it.
2) Businesses have always sought to make a profit, but it is becoming increasingly common to hear people talk about the social obligations that companies have. I completely agree with the idea that businesses should do more for society than simply make money.
On the one hand, I accept that businesses must make money in order to survive in a competitive world. It seems logical that the priority of any company should be to cover its running costs, such as employees’ wages and payments for buildings and utilities. On top of these costs, companies also need to invest in improvements and innovations if they wish to remain successful. If a company is unable to pay its bills or meet the changing needs of customers, any concerns about social responsibilities become irrelevant. In other words, a company can only make a positive contribution to society if it is in good financial health.
On the other hand, companies should not be run with the sole aim of maximising profit; they have a wider role to play in society. One social obligation that owners and managers have is to treat their employees well, rather than exploiting them. For example, they could pay a “living wage” to ensure that workers have a good quality of life. I also like the idea that businesses could use a proportion of their profits to support local charities, environmental projects or education initiatives. Finally, instead of trying to minimise their tax payments by using accounting loopholes, I believe that company bosses should be happy to contribute to society through the tax system.
In conclusion, I believe that companies should place as much importance on their social responsibilities as they do on their financial objectives.