Corporations
In a capitalistic economy, the word corporation is thrown around without much sense of the actual meaning of the word. A corporation was designed to be a business with oversight from a separate body of people, to give independent advice and make independent decisions. Today, the "separate" body of independent reviewers is no longer as separate as they once were.
The corporate board is now very much interconnected to the entire business. They own large parts of the company, can hire and fire the CEO of the company by vote, and can make great amounts of money with their stock holdings in the company.
Corporations also have their own laws on the books, because they not only have the business to be responsible for, but the board of directors, as well as the stock holders. The stock holders hold a very important role in corporations, because it is these people who invest the major capital in the company, giving the corporation a starting and consistent capital. If the stock holders feel like the company is losing money and failing, they can sell their stock, pull out their money and leave the company high and dry.
As the corporate world becomes more interdependent within itself, the original idea of having an independent board is beginning to fade away. With more corporate scandals in the news everyday, the corporate world needs a new, better face.
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