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The modern business corporation is both a wonder and a villain. They are wonders for the liquidity they impart to the stock market, enabling investors to plough in their capital to promote innovative projects that produce technological miracles. They must be admired for their corporate structure, which encourages people to invest their money confidently , leaving to professional managers the responsibility for operating the enterprise. And for the enormous wealth they create, which has given many people the time and freedom to pursue their personal aspirations and dreams.

But it is also a villain. For the way that the limited liability system allows it to dump the cost of production on the customers. And for often being the cause of ecological imbalance and environmental pollution. It is also sometimes party to massive layoffs and lock-outs to achieve oblique business objectives and, in a worst case scenario, uses reasons of profitability to dispense with entire communities that have grown around these corporates, as a consequence of downsizing.

The basic reason for this is the constant drive to maximise the market value of the share prices. It is unfortunate that investors, on their part, often lose their focus on the business corporations in which they invest. Most of them transact with an invisible and faceless market. shifting their investments with no compunction whatsoever, the moment they find the share prices declining.

The business corporation is an economic, social, and cultural institution. People go to work not only to make a living, but also to find and fulfil some fraternal and interactive needs. A truly sustainable and socially responsible business-house will thrive and survive only with long-term vision and a social mission.

R. Devarajan

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