Corporate Reputation Management in the Post Truth Era and the Age of Fake News
February 12, 2025
Brand identity stems from an organization, i.e., an organization is responsible for creating a distinguished product with unique characteristics. It is how an organization seeks to identify itself. It represents how an organization wants to be perceived in the market. An organization communicates its identity to the consumers through its branding and marketing strategies. A […]
What are the United Nations Millennium Development Goals? The United Nations (UN) Millennium Development goals (MDGs) are a set of goals that were signed into an agreement with the member countries of the UN related to human development, eradication of poverty, providing access to basic services like food, shelter, and clean water to the underprivileged […]
Being a good Salesman does not come easily to everyone. Out of thousands who take up a career in sales, there are a few hundreds who turn out to be mediocre salesmen pushing the product and chasing sales target and many more leave the field altogether. There are few, who carve out a brilliant trajectory […]
The past few decades has seen unprecedented growth of service industry. In fact we can today say that the service industry is at its maturity stage. The gamut of services that make up for the significant contribution towards the GDP of the economy are numerous ranging from financial services, health care, hospitality, travel, insurance, information […]
If internet has had far reaching impact on all walks of life, E trade has had similar impact on all types of businesses. No Organisation big or small, whether a global organisation or an individual owned enterprise can afford to ignore e commerce and e marketing scene. Normally we see people using internet to make […]
The corporation has been defined in many ways as interpreted by individuals; however lawyers and economists call it a nexus of contracts. This means that a corporation is nothing but a sum of all the agreements which lead to its creation. Corporations are also defined as a device for obtaining individual profit without individual responsibility.
To define it more visually, a corporation is a structure established wherein different parties come together and each provides capital, labor or expertise to maximize profits for all of them. A corporation has wide variety of constituents and it needs to relate to all of them; like investors, shareholders, customers, employees, suppliers, creditors, government and finally the community.
Legally, a corporation is identified as a fictional person for some purposes however the corporation itself is separate from its owners and employees. This means, what is owed to the corporation cannot be owed to the people who make the corporation. So is a corporation is sued or gets bankrupt, the individual members of the corporation are not liable to pay the debts.
Let us explore the evolution of corporations into the form we know today. To begin with, in the earlier times, the educational and religious corporations were given considerable independence and perpetual existence to evade the all encompassing power of the king. Later, corporations were set to address state’s specific needs like establishing colonies during the colonial era.
Initially, corporations were characterized by a few wealthy people who negotiated amongst themselves, invested capital and worked towards maximizing profits. However later in the nineteenth century; the rapid technological progress brought the idea of having larger firms employing hundreds and sometimes thousands of people.
The other significant aspect was the need for the capital which was earlier provided by a few wealthy members but now proved inadequate to support the operations of such large firms. The ramification of these changes was the emerging acceptance of the concept of private property which was hitherto unknown as all properties were considered to be belonging to the state or the religious institutions like churches.
There are certain critical features of the corporation which helped its popularity and laid the foundation for the modern day form as we know today.
Lastly the society can regulate corporate actions through taxes and fines and direct them to pursue not just economic but social goals as well. Corporations have also gone through the Darwinian principle of natural selection and evolution. So the processes and systems keep changing with the time and context in which the corporations operate.
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