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Corporate profits conflicts with welfare of the nation

This topic has 1 member reply
rmcguire7 Junior | Next Rank: 30 Posts Default Avatar
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Test Date:
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Target GMAT Score:
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Corporate profits conflicts with welfare of the nation

Post Tue Jul 26, 2011 1:09 pm
Elapsed Time: 00:00
  • Lap #[LAPCOUNT] ([LAPTIME])
    I think that this is a good topic for getting an approach to Analysis of an Issue

    I am wondering if anyone can review the below repose to the following essay:


    "The desire of corporations to maximize profits creates conflict with the general welfare of the nation at large."
    Discuss the extent to which you agree or disagree with the opinion stated above. Support your views with reasons and/or examples from your own experience, observations or reading.


    Corporations have been both vilified and praised for their contributions to society with good reasons for both sides. There are numerous historical examples that, when taken out of context and when the most extreme are picked, represent corporations as greedy money machines that provide little positive contributions to society. However, despite these extreme examples, corporations provide many important positive and essential pieces to the general welfare of the nation.

    First, corporations search for profits promotes ingenuity and efficiency and is an important part to an effective capitalist economy. The assembly line is one of the most important illustrations of a corporations search for maximum profit resulting in a positive effect on society. Henry Ford’s innovation resulted in the automobile being accessible to the middle class and changed the face of both the USA and the world. Without his search for a means to maximize profit, the world would be a much less traveled and diverse place.

    The next reason why corporations search for maximum profit is beneficial to the general welfare of the nation is that it provides important tax revenue that ultimately benefits society through public services and government employment. The more money any business brings in, the more taxes it will pay. Without corporations focus on ways to maximize profits, there would be much less money for essential services such as law enforcement, water treatment, and public roadways to name but a few.

    Finally, corporations with high profit margins are in a position to provide needed services to the public that the government does not. For example, the Bill and Melinda Gates Foundation, a charity that was started and is maintained through the profits of Microsoft, has filled many critical education gaps in the USA and in developing countries. Many important and influential Universities, such as the University of Chicago and Carnegie-Mellon, were started from the profits of corporations.

    Corporations provide many important positive and essential pieces to the general welfare of the nation as illustrated by numerous examples. Their profits promote ingenuity and efficiency in a capitalistic society, provides important tax revenue for public services, and give back directly to society. The aged idea that corporate profits equal reckless abandonment of the masses needs to be replaced with the idea that corporate profits benefit society.

    Thanks for the help and I hope this helps anyone looking for help on their Issue AWA!

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    mnagrik94 Newbie | Next Rank: 10 Posts
    Joined
    14 May 2017
    Posted:
    1 messages
    Post Sun May 14, 2017 3:05 am
    Government corporations main aim is to work for the welfare of their people.Although
    sometimes they can desire to maximize the profit for increasing the revenue but if people are
    not satisfied by their works, then people revolt against the corporation creating resentment. The
    issue states that if corporations always aim of their profits without giving due consideration to
    development of nation then people are sure to revolt and create conflict. I totally agree with the
    statement assuming that corporation desire is only to maximize the profit and not welfare of
    nation.
    To support my viewpoint on the issue, let me give an example currently very trending in India.
    The corporation of Mumbai dreams to build the tallest statue of the great king Shivaji in Mumbai
    coast. The budget of the project is more than 3000 crores of Rupees. Though the project seems
    to be appealing but there is lot of opposition from the people. Citizens opined that such large
    amount of money can be instead diverted for the problems Mumbai is facing like the sanitation,
    road development, poverty, slum rehabilitation. If the corporation uses that money efficiently
    then people will not conflict and be grateful to the corporation.
    While maximizing the profit, corporations should understand the views of the public. They
    should also consider the suggestions stated by the public. In India, the corporation aimed to
    construct the nuclear power plant in Jaitapur without considering the public opinion. Though
    project offers a lot of opportunity to the residents nearby, but still the project is suffering the
    opposition only because it could not fathom the general sentiments of the public. The land was
    confiscated without taking the due consideration of the owners and thus they raised conflicts
    against the project.
    Though many times the corporation's want for increasing the profits consequently leads to
    welfare of nation, the corporation should assimilate and acquiesce the public's view if possible
    and contemplate their opinions. They should have a balanced approach and giving equal
    weight to both profit as well as welfare of nation.

    Kindly evaluate it. This was my first issue topic. I think its not upto the mark. Please help me to improve it.

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