Business and Society - Assignment Example

Growth of industries and corporations in the modern world helps to generate greater employment opportunities and increases the per capita income level of individuals (Elliot, 2011). Thus, the corporations help to shape up economic welfare of the individuals. Corporate social activities of the modern organizations help to improve the quality of environment and society. However, these companies often utilize their own financial power for manipulating the policies established by the regulatory authorities (Langeland, 2013).

Such activities are conducted through the lobbying practices of the corporations. Thus, industries and corporations in the modern era possess the power to shape the political, social, cultural and economical aspects of the world. Most of the corporations try to maximize their profitability and revenue in business. However, unique strategies of some companies create significant impact on the social and economic environment of some individuals. For instance, Ben & Jerry, a popular ice cream company of United States provides extensive attention on social and environmental improvement aspects (Roach, 2007).

In 2001, the company had used all unbleached paperboard pints for packaging purposes. In its popular One Sweet Whirled crusade, the company tried to address over the issue of global climatic change. Such social responsibility related activities of Ben & Jerry helps to improve the social and net welfare across different economies (Roach, 2007). Giant multinational companies such as Apple Inc., generates employment opportunities for thousands of individuals. However, lobbying practices of the multinational companies diminishes social welfare.

Companies like Samsung spend almost $900,000 for manipulating the telecommunication property rights related regulations introduced by the Federal government (Langeland, 2013). Business, government and society are three highly interrelated factors in the current epoch.