Bakan argues that corporations are not only a part of our society but have become the most important factor in it. The book explores how companies, governments and other institutions use or abuse their power over individual people to benefit themselves at their expense.
The “the corporation documentary summary pdf” is a book that was written by Joel Bakan. It talks about the history of corporations and how they have changed society.
Are you seeking for a synopsis of Joel Bakan’s book The Corporation? You’ve arrived to the correct location.
After reading Joel Bakan’s book, I wrote down a few significant takeaways.
If you don’t have time, you don’t have to read the whole book. This book synopsis summarizes all you can take away from it.
Let’s get this party started right now.
I’ll go through the following points in my synopsis of The Corporation: The Pathological Pursuit of Profit and Power:
What is the purpose of the corporation?
The Company, which received the Audience Award for Best Documentary at the 2004 Sundance Film Festival, says that the corporation is structured by law to act similarly to a psychopathic personality, whose destructive behavior, if left uncontrolled, leads to scandal and catastrophe.
Corporations are basically psychopaths, since they have been given the status of a ‘person’ under US law and are legally obligated to prioritize the pursuit of profit for their stockholders above all other considerations.
Bakan claims that we need to modify the corporation’s essential legal foundation in order for the corporate sector to operate with more social responsibility and sustainability in the future. This is a fascinating book that examines the fundamental foundations of corporate business behavior in the world today, based on interviews from across the political spectrum.
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Who Is The Corporation’s Author?
Professor of law Joel Bakan teaches at the University of British Columbia. He has legal degrees from Oxford, Harvard, and Dalhousie Universities and was a Rhodes Scholar and former law clerk to Chief Justice Brian Dickson of the Supreme Court of Canada.
Bakan is an internationally recognized legal scholar who has published extensively on law and its social and economic implications. He is the co-creator and writer of The Corporation, a documentary film and television miniseries based on the book.
Summary of The Corporation
The Corporation is a different perspective on business, arguing that companies have become fundamentally harmful entities as a result of their legal standing during the previous century or so.
It’s a fascinating and difficult book for anybody who has ever thought whether the corporate sector requires complete and total overhaul to be fit for purpose.
One of the most pleasant aspects of Bakan’s book is that he specifically avoids criticizing corporate employees. He also drew on discussions with figures from both sides of the political aisle, including Milton Friedman, Noam Chomsky, and business expert and author Peter Drucker.
Corporations have been given the legal status of a ‘person’ for very sensible reasons: the notion of limited liability allows shareholders to be protected while taking acceptable risks.
Corporations, on the other hand, are regulated by rules that oblige them to base their whole business activity on profit. Apart from adhering to government-imposed restrictions, their only aim is to maximize profit at whatever cost to society or the environment.
This is their legal obligation to their shareholders. Modern corporations may make a big deal about the sustainable or worthwhile initiatives they’re launching in poor communities or in developing countries, but they also have to present these endeavors to shareholders as purely profit-oriented, undermining any claims or desires to do genuine good through philanthropic or charitable activities.
Similarly worrisome are reports of automakers doing cost-benefit analyses to determine if the expense of correcting a defective fuel-tank design that might kill drivers and passengers exceeds the price of paying out on lawsuits to the families of those who may be murdered. In such ruthless mathematics, ethics takes a back seat to efficiency and profit.
As a consequence, Bakan compares the contemporary company to a psychopath, since they are driven to act psychopathically, chasing private benefit at the expense of other entities in the world. And he believes that public outcry and pressure will not be enough to alter this since the corporation’s psychopathic character is inherent in its legal standing.
This is an interesting read for a small or medium business owner because of the contrast between the behavior expected of corporate boards and managers and the relative freedom smaller businesses have to pursue a more sustainable path – it would certainly make anyone considering taking a private company public wonder if they were doing the right thing.
Anyone who believes their small or local firm is threatened by corporate competition is likely to find the argument that businesses are inherently defective attractive. When a customer has to choose between a local and a global company, this may provide an additional incentive to choose the smaller company.
Even for the most ardent free-market capitalist, the explanation of how international processes have been twisted to favor one particular sort of company should cause concern. Bakan’s recommendations for corporate change are insightful and diverse. He proposes, for example, that social responsibility be included into business charters.
He also opposes the notion that governments can always enhance efficiency by outsourcing services to companies, which makes sense given that any efficiency gains are more likely to be passed on to shareholders as profits than than returned to taxpayers.
Some of his good recommendations may seem utopian, but they have the advantage of being based on legal expertise and a realistic knowledge of the challenges, rather than extreme dogma or an anti-capitalist posture.
Given recent instances, such as Enron and the global financial crisis, it is probable that there will be many more corporate scandals and catastrophes in the coming years, making this book predictive to future readers.
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Additional Reading
If you like The Corporation, you may be interested in the following book summaries:
The Corporation is available for purchase.
If you wish to acquire The Corporation, you may do so via the following links:
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“The Corporation” is a book by Joel Bakan that was released in 2003. It is a nonfiction work that examines the corporation, and how it has changed society. The author uses various examples to show how corporations are not just about profit, but also about power. He argues that corporations have become so large and powerful that they have transformed society into a “bureaucratic-authoritarian dictatorship.” Reference: the corporation documentary essay.
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