How can we ensure corporations are held accountable for their actions “ethically” and “legally”?
The way of perceiving the world has changed gradually over the past 20 years. However corporate design is maintained in term of creating wealth for their owners and avoids responsibilities and the worst part of this is that this is causing big damage that in some cases it is well-known for everyone.
Corporations are supported by the market as an arbitrator and at the same time they look for legal strategies to gain benefits. To ensure that corporations are held accountable for their actions there should be stronger penalties such as establishing an income tax to cover damage resulting from the development of its business, confiscation of their assets, temporary closures of factories, etc. This is in order to influence corporations’ thoughts about a doubt whether they should respect the law or wait for the government punishments.
Further the government requiring of annual returns filed by the premise of putting their own interests above others, there must be also a require reports of interventions and contributions in benefits societies and environmental care and also on reducing damages and last the plan for change.
Kline, John M. 2006. “MNCs and Surrogate Sovereignty.” Brown Journal of World Affairs 13, no. 1:123-133.
The Corporation. 2011. http://www.youtube.com/watch?v=Bkr-paaAYJ8 . Accessed: 28th February 2010.
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