Union Carbide: The Unfinished Business at Bhopal - Case Study Example

Download file to see previous pages Even the crucial and vital concerns like statutory provisions, environmental laws, social norms, business ethics, and general well being of the society are more than often compromised by the corporations to achieve their financial and marketing targets (Chris 16). Any well-informed citizen with reasonable levels of exposure to the print and digital media will conclusively testify to the fact that more then often corporations have been found to be willing to damage the world to make more money. This deliberate willingness to hurt the human values by any individual or institution definitely deserves the concern and intervention of a civil society based on democratic values and ideals.

The US-based corporations, being a part of a thriving capitalist and democratic society, ought to be held responsible for the breach of statutory provisions and public trust committed by them. However, the primary problem hampering this ideal is the fact that the corporations have over the years, assimilated themselves into the society in a way that does not extend the people with specific rights and mechanisms to facilitate close scrutiny of their day-to-day operations. The very framework and design of the corporations extend them with the ability and power to sidestep or sideline the public intervention or interference. Public institutions run by the taxpayers' money are constitutionally accountable to the masses and the people do have the power to comment on the validity of the decisions taken by them, though indirectly through the provision of voting and adult franchise. The private corporations tend to differ from the state institutions in the sense that they are not liable to seek the approval and validation of the masses as they are privately funded and managed. Besides the enormous funds and political power that they have at their disposal makes them practically immune to public opinion and concern. In fact, such an arrangement stands to be a grave injustice to any free and democratic society. The society can not and should not be denied the right to have a say in the affairs of such big and powerful concerns like private-sector corporations.

This heavy-handedness of the US-based MNCs becomes even more unrestrained when it comes to doing business in the third world nations. Not only the statutory and monitoring arrangements in the third world countries are often vulnerable to outside influences and powers, but the rampant corruption in such nations makes it relatively easier for the private corporations to bypass and ignore the public well being, environmental laws and business ethics (Basu 34). Even if their misdeeds and blunders get exposed owing to the media activism, the massive clout and influence that the US corporations enjoy in the federal and state legislatures facilitate them with ample government backing and support, which is sometimes sufficient to snub or scare away the state and private objections and resistance. At the end of the day, corporations have to prove it to their stockholders that they are making huge profits. ...Download file to see next pagesRead More